Cheap Apartments for Rent near Colfax, IL from $530 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in Colfax.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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314 Mecherle
1 to 2 Bedroom Apartments

314 Mecherle

314 Mecherle DrBloomington, IL 61701

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Fairmont Apartments
1 to 2 Bedroom Apartments

Fairmont Apartments

717 Fairmont DrBloomington, IL 61704
  • Utilities Included
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2 Curtis Ct
2 Bedroom Apartments

2 Curtis Ct

2 Curtis CtNormal, IL 61761
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Parkview Apartments
1 to 3 Bedroom Apartments

Parkview Apartments

101 Northfield DrNormal, IL 61761
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Showing Results 1-29, Page 1 of 1

Colfax, IL Local Guide

Cheapest Available Colfax Apartments for Rent and Nearby

 

The cheapest available apartment rental in Colfax, IL is a Studio unit found at Bradlee Park Apartments priced from $650. Cortez Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Colfax apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bradlee Park ApartmentsStudioStudio,1BA$650
Cortez ApartmentsUnfurnished1BR,1BA$825
Class Act Realty1 Bedroom1BR,1BA$840
Broadmoor Park Apartments1BR/1.0BA1BR,1BA$845
Ironwood Gardens ApartmentsStudioStudio,1BA$850
CollegePlace Uptown2BR/1BA - Upgrade2BR,1BA$860
Arbors at EastlandThe Oak1BR,1BA$925
Currency Commons Apartments2B1B2BR,1BA$1,000
Lancaster HeightsOne Bedroom1BR,1BA$1,000
Brookridge Heights ApartmentsStudio - ClassicStudio,1BA$1,050

Best Value Apartments for Rent in Colfax, IL and Nearby

As of September 10, 2026 the best value apartment in the Colfax area is the $0.49 price per square foot 4 Balcony Renovated Model at The Social on Hovey in the in the Downtown Normal neighborhood starting from $749. The second greatest value Colfax apartment is the 4x4 Furnished Townhome Model at The Social at Illinois State starting at $699 with a $0.47 price per square foot in the Downtown Normal neighborhood. Here is today’s list of the best values for Colfax apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Social on Hovey4 Balcony Renovated4BR,4BA$0.49
The Social at Illinois State4x4 Furnished Townhome4BR,4BA$0.47
Hershey Clearwater Townhomes3 Bed / 1.5 Bath (Remodel)3BR,1.5BA$1.14
Lincoln Square Apartments3 Bedroom 1.5 Bathroom Townhouse3BR,1.5BA$0.90
3 Stortz DriveAll units2BR,2BA$1.08
701 FranklinApt 13BR,1BA$0.48
Ekstam Apartments2 Beds 2 Bath2BR,2BA$1.14
Currency Commons Apartments2B1B2BR,1BA$1.00
700 N Adelaide StRent Per Student for 22BR,1.5BA$0.76
The Social NormalThe Redbird Renovated2BR,2BA$0.95

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Colfax, IL Rentals by Map

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Frequently Asked Questions about Cheap Colfax Apartments

What is the Cheapest Studio apartment in Colfax?

Currently the most affordable Cheap Studio Apartment in Colfax is at Bradlee Park Apartments listed at $650.

How much is rent for a Cheap One Bedroom Colfax Apartment?

The lowest price for a Cheap One Bedroom Colfax Apartment is $825 at Cortez Apartments.

What is the lowest price for a Cheap Two Bedroom Colfax Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Colfax is starting from $850 at Class Act Realty.

What is the most affordable Colfax Three Bedroom Apartment?

The best deal on a cheap Colfax Three Bedroom Apartment rental is at Lincoln Square Apartments and starts from $1,090.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.