Cheap Apartments for Rent near Knoxville, IL from $550 (40 Rentals)

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

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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Williamsburg Apartments
1 to 2 Bedroom Apartments

Williamsburg Apartments

1072 Olive StGalesburg, IL 61401
Corporate Housing
  • 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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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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Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free
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301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536
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Elm Haven
1 to 2 Bedroom Apartments

Elm Haven

101 N Rose StElmwood, IL 61529
Senior Living

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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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 $550. Willow Knolls Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here is today’s list of the most affordable Knoxville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mayfair Manor2x12BR,1BA$550
Willow Knolls ApartmentsStudio / 1 BathStudio,1BA$799
301 N Carole Ave1BR/1.0BA1BR,1BA$825
Forest Hills Apartments1x11BR,1BA$854
Nordic Villa ApartmentsLoft1BR,1BA$875
Hollow Hills Apartments1 Bed / 1 Bath (615 sqft)1BR,1BA$875
PARKWAY ESTATES3 Bedroom 2 Bath3BR,2BA$915
Haymeadow ApartmentsSpringhouse1BR,1BA$949
ASPEN BLUFF APARTMENTSTwo Bedrooms Two Bathroom2BR,2BA$969
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR,1BA$975

Best Value Apartments for Rent in Knoxville, IL and Nearby

As of September 09, 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 3 Bedroom 2 Bath Model at PARKWAY ESTATES starting at $915 with a $0.84 price per square foot . 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
PARKWAY ESTATES3 Bedroom 2 Bath3BR,2BA$0.84
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Nordic Villa ApartmentsTownhouse2BR,1.5BA$1.28
Kellogg Place Apartments2 Bed / 1 Bath2BR,1BA$1.17
ASPEN BLUFF APARTMENTSTwo Bedrooms Two Bathroom2BR,2BA$1.11
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Forest Hills Apartments1x11BR,1BA$1.00
301 N Carole Ave1BR/1.0BA1BR,1BA$1.03
Haymeadow ApartmentsSpringhouse1BR,1BA$1.32

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 Knoxville, IL Rentals by Map

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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 301 N Carole Ave.

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 $550 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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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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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.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.