Cheap Apartments for Rent in Knoxville, IL from $400 (33 Rentals)

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

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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Williamsburg Apartments
1 to 2 Bedroom Apartments

Williamsburg Apartments

1072 Olive StGalesburg, IL 61401
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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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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301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536

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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Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free
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Elm Haven
1 to 2 Bedroom Apartments

Elm Haven

101 N Rose StElmwood, IL 61529
Senior Living

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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Knoxville, IL Local Guide

Cheapest Available Knoxville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Knoxville, IL is a 2 Beds unit found at Mayfair Manor priced from $525. Hollow Hills in the Windchime neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here is today’s list of the most affordable Knoxville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mayfair Manor2x12BR,1BA$525
Hollow HillsStudioStudio,1BA$700
Willow Knolls ApartmentsStudioStudio,1BA$750
PARKWAY ESTATES2 Bedroom 1 Bath2BR,1BA$805
Nordic Villa ApartmentsLoft1BR,1BA$825
Forest Hill Apartments1x11BR,1BA$950
ASPEN BLUFF APARTMENTSTwo Bedrooms Two Bathroom2BR,2BA$969
Flats at DunlapOne Bedroom, One Bathroom1BR,1BA$975
Hillcrest Apartments2 BR / 1 BA2BR,1BA$979
Westporte ApartmentsWP2B2BR,1BA$1,030

Best Value Apartments for Rent in Knoxville, IL and Nearby

As of April 26, 2026 the best value apartment in the Knoxville 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 Knoxville 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 Knoxville 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
ASPEN BLUFF APARTMENTSThree Bedrooms Two Bathroom3BR,2BA$1.14
PARKWAY ESTATES2 Bedroom 1 Bath2BR,1BA$0.86
Forest Hills Apartments1x11BR,1BA$1.12
Dunlap Lakeside2 Beds, 1 Baths2BR,1BA$1.29
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Westporte ApartmentsWP2B2BR,1BA$1.27
Nordic Villa ApartmentsLoft1BR,1BA$1.18

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

Explore Knoxville, IL Rentals by Map

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See the most popular apartments and homes in Knoxville, IL

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Frequently Asked Questions about Cheap Knoxville Apartments

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

The lowest price for a Cheap One Bedroom Knoxville Apartment is $825 at Nordic Villa Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Knoxville is starting from $525 at Mayfair Manor.

What is the most affordable Knoxville Three Bedroom Apartment?

The best deal on a cheap Knoxville Three Bedroom Apartment rental is at PARKWAY ESTATES and starts from $915.

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.