Cheap Apartments for Rent in Hennepin, IL from $400 (39 Rentals)

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

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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Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
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Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
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1512 E Gardner Ln
3 Bedroom Apartments

1512 E Gardner Ln

1512 E Gardner LnPeoria Heights, IL 61616
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Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free

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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The Hillsides
1 to 2 Bedroom Apartments

The Hillsides

4731 N Galena RdPeoria Heights, IL 61616
  • Utilities Included
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1101 Cambridge Dr
2 Bedroom Apartments

1101 Cambridge Dr

1101 Cambridge DrWashington, IL 61571
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-39, Page 1 of 1

Hennepin, IL Local Guide

Cheapest Available Hennepin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Hennepin, IL is a Studio unit found at Hollow Hills in the Windchime neighborhood priced from $700. Winkler Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Hennepin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hollow HillsStudioStudio,1BA$700
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Willow Knolls ApartmentsStudioStudio,1BA$750
Nordic Villa ApartmentsLoft1BR,1BA$825
103 W Railroad St1 Bed, 1 bath1BR,1BA$850
The Village on UniversityCollins at Village South1BR,1BA$895
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$900
Knoxville Manor ApartmentsLevel 21BR,1BA$900
Flats at DunlapOne Bedroom, One Bathroom1BR,1BA$975
Hillcrest Apartments2 BR / 1 BA2BR,1BA$979

Best Value Apartments for Rent in Hennepin, IL and Nearby

As of April 27, 2026 the best value apartment in the Hennepin area is the $1.18 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the in the Northmoor Knolls neighborhood starting from $1,600. The second greatest value Hennepin apartment is the HCIV2D2FB Model at Hollow Creek IV Apartments starting at $1,400 with a $1.15 price per square foot in the Windchime neighborhood. Here is today’s list of the best values for Hennepin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
Hollow Creek IV ApartmentsHCIV2D2FB2BR,2BA$1.15
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Versailles ApartmentsCrown - 2BR / 1BA2BR,1BA$1.06
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$0.95
The Mallard Way Rental Community1 bed 1 bath1BR,1BA$1.22
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Dunlap Lakeside2 Beds, 1 Baths2BR,1BA$1.29
Nordic Villa ApartmentsLoft1BR,1BA$1.18
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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:
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Explore Hennepin, IL Rentals by Map

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See the most popular apartments and homes in Hennepin, IL

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Frequently Asked Questions about Cheap Hennepin Apartments

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

The lowest price for a Cheap One Bedroom Hennepin Apartment is $725 at Winkler Village Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Hennepin is starting from $895 at Nordic Villa Apartments.

What is the most affordable Hennepin Three Bedroom Apartment?

The best deal on a cheap Hennepin Three Bedroom Apartment rental is at The Mallard Way Rental Community and starts from $1,200.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.