Cheap Apartments for Rent in Hammond, IL from $400 (37 Rentals)

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

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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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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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
  • Utilities Included
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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938
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Hessel on the Park
2 Bedroom Apartments

Hessel on the Park

1601-1862 Valley RdChampaign, IL 61820
  • Utilities Included

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.

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Barrington
1 Bedroom Apartments

Barrington

2541-2553 W Springfield AveChampaign, IL 61821
Corporate Housing
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Showing Results 1-37, Page 1 of 1

Hammond, IL Local Guide

Cheapest Available Hammond Apartments for Rent and Nearby

 

The cheapest available apartment rental in Hammond, IL is a 1 Bed unit found at RESERVE AT LAKEVIEW priced from $421. Westport Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $484. Here is today’s list of the most affordable Hammond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$421
Westport ApartmentsOne Bedroom1BR,1BA$484
Roosevelt School ApartmentsStudioStudio,1BA$502
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$600
616 S 6th St0/1Studio,1BA$699
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$785
The Quarry ApartmentsRhyolite2BR,1BA$810
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
2474 N Florian102BR,1BA$900
Stonegate Village by Royse + BrinkmeyerThe Sandstone2BR,1BA$1,110

Best Value Apartments for Rent in Hammond, IL and Nearby

As of May 07, 2026 the best value apartment in the Hammond area is the $0.96 price per square foot 3BR/1.5BA Model at Decatur Flats Apartments in the starting from $1,199. The second greatest value Hammond apartment is the 2517 Leeper Dr Model at Southwest Apartments starting at $1,200 with a $1.00 price per square foot . Here is today’s list of the best values for Hammond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Decatur Flats Apartments3BR/1.5BA3BR,1.5BA$0.96
Southwest Apartments2517 Leeper Dr2BR,1.5BA$1.00
Prestwick Point ApartmentsImmediate Move-in: 2-Bedroom, 2-Bath Unit!2BR,2BA$1.16
The Cove At Boulder Ridge2 bedroom 2 bath2BR,2BA$1.09
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$0.87
2474 N Florian102BR,1.5BA$1.13
The Quarry ApartmentsRhyolite2BR,1BA$1.10
Westport ApartmentsOne Bedroom1BR,1BA$0.71
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$0.69
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16

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

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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 Hammond, IL Rentals by Map

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Frequently Asked Questions about Cheap Hammond Apartments

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

The lowest price for a Cheap One Bedroom Hammond Apartment is $421 at RESERVE AT LAKEVIEW.

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

Today's best deal for a Cheap Two Bedroom Apartment in Hammond is starting from $579 at Westport Apartments.

What is the most affordable Hammond Three Bedroom Apartment?

The best deal on a cheap Hammond Three Bedroom Apartment rental is at Westport Apartments and starts from $665.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.