Cheap Apartments for Rent in Decatur, IL from $300 (16 Rentals)

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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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Southern Oaks Apartments
1 to 2 Bedroom Apartments

Southern Oaks Apartments

1730-1760 S Fairview AveDecatur, IL 62521
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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545 W Main St
1 Bedroom Apartments

545 W Main St

545 W Main StDecatur, IL 62522
  • Utilities Included
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Edgewood Apartments
Studio to 2 Bedroom Apartments

Edgewood Apartments

2707-2898 Jaymar TrlDecatur, IL 62521
  • Utilities Included
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Willow Heights
1 to 2 Bedroom Apartments

Willow Heights

1460 E Wellington WayDecatur, IL 62526
Senior Living
  • Utilities Included
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777 W Prairie St
1 to 3 Bedroom Apartments

777 W Prairie St

777 W Prairie StDecatur, IL 62522

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Decatur, IL Local Guide

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Local Guide Expert

Cheapest Available Decatur Apartments for Rent

 

The cheapest available apartment rental in Decatur, IL is a Studio unit found at Roosevelt School Apartments priced from $502. RESERVE AT LAKEVIEW has the second lowest priced unit, which is a 2 Beds apartment currently listed from $507. Here is today’s list of the most affordable Decatur apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Roosevelt School ApartmentsStudioStudio,1BA$502
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$600
Timber CoveThe RegattaStudio,1BA$690
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$785

Best Value Apartments for Rent in Decatur, IL

As of June 15, 2026 the best value apartment in the Decatur area is the $0.87 price per square foot Two Bedroom One Bath Model at Oakwood Estates in the starting from $785. The second greatest value Decatur apartment is the Two Bedrooms One Bathroom Model at RESERVE AT LAKEVIEW starting at $507 with a $0.60 price per square foot . Here is today’s list of the best values for Decatur apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$0.87
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
2474 N Florian102BR,1.5BA$1.13
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16
Timber CoveThe RegattaStudio ,1BA$1.50

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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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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Quick Rent Budget Calculator

How much rent can you afford?

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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Decatur Overview

If you are looking for a fun, affordable city to call home, you might be thinking about Decatur, Illinois. This is a city known for its low cost of living, thriving job market, and friendly people. As a result, you might be interested in living in apartments in Decatur, Illinois. What do you need to know about Decatur? Learn more below, and rely on someone with local knowledge to help you find your next Decatur apartment.

Why live in Decatur, IL?

There are plenty of reasons why so many people are choosing to move to Decatur, Illinois. First, the school system is relatively strong, making it a great location for families with children. Second, the cost of living in Decatur is relatively low, particularly when compared to other major cities nearby, including Saint Louis and Chicago. Finally, Decatur is also a great place to live because the people who live there are very friendly. It is easy for people to get around, and it is a great place to get to know your neighbors. For all of these reasons, you might want to consider making Decatur your next home as well.

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

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Frequently Asked Questions about Cheap Decatur Apartments

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

The lowest price for a Cheap One Bedroom Decatur Apartment is $600 at Stones Crossing Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Decatur is starting from $507 at RESERVE AT LAKEVIEW.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.