Cheap Apartments for Rent near Hammond, IL from $421 (44 Rentals)

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

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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Colony Court
$1,135 - $1,285

Total Monthly Price

Base Rent$1,135 - $1,285
Total Monthly Price$1,135 - $1,285
2 to 3 Bedroom Apartments Available Soon

Colony Court

502 S Mattis AveChampaign, IL 61821
Affordability
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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
  • Utilities Included

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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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938
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616 S 6th St
Studio to 2 Bedroom Apartments

616 S 6th St

616 S 6th StMattoon, 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

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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Barrington
1 Bedroom Apartments

Barrington

2541-2553 W Springfield AveChampaign, IL 61821
Corporate Housing
  • 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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State & Cedar
1 to 2 Bedroom Apartments

State & Cedar

1407 S State StChampaign, IL 61820
Student Housing
  • Utilities Included
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Parkstone Villas
1 to 2 Bedroom Apartments

Parkstone Villas

600 E FicklinTuscola, IL 61953
Showing Results 1-44, 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 Country Place-Moweaqua I & ll priced from $497. Roosevelt School Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $502. Here is today’s list of the most affordable Hammond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Country Place-Moweaqua I & ll1 Bedroom1BR, 1BA$497
Roosevelt School ApartmentsStudioStudio, 1BA$502
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR, 1BA$507
Westport ApartmentsTwo Bedroom2BR, 2BA$554
Oakwood EstatesTwo Bedroom One Bath2BR, 1BA$785
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR, 1BA$825
Stones Crossing Apartments2 BDRM Wellington2BR, 1BA$865
2474 N Florian62BR, 1BA$900
West Mound Apartments2 Bedroom 1 Bathroom2BR, 1BA$945
Southwest Apartments1902 Karen Ct2BR, 1BA$950

Best Value Apartments for Rent in Hammond, IL and Nearby

As of September 20, 2026 the best value apartment in the Hammond area is the $1.08 price per square foot 3 Bedroom Townhome (Standard Unit) Model at Tuscany Ridge Townhomes starting from $1,375. The second greatest value Hammond apartment is the Two Bedroom Model at Westport Apartments starting at $554 with a $0.58 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.
Tuscany Ridge Townhomes3 Bedroom Townhome (Standard Unit)3BR, 2.5BA$1.08
Westport ApartmentsTwo Bedroom2BR, 2BA$0.58
Colonial VillageCharleston2BR, 1BA$1.03
West Mound Apartments2 Bedroom 1 Bathroom2BR, 1BA$1.04
Oakwood EstatesTwo Bedroom One Bath2BR, 1BA$0.87
Stones Crossing Apartments2 BDRM Wellington2BR, 1BA$1.01
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR, 1BA$0.60
Bristol Gardens2 Bedroom2BR, 1BA$1.24
2474 N Florian62BR, 1.5BA$1.13
Country Place-Moweaqua I & ll1 Bedroom1BR, 1BA$0.76

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 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 $497 at Country Place-Moweaqua I & ll.

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 $507 at RESERVE AT LAKEVIEW.

What is the most affordable Hammond Three Bedroom Apartment?

The best deal on a cheap Hammond Three Bedroom Apartment rental is at Colonial Village and starts from $1,100.

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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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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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.