Cheap Apartments for Rent in La Fayette, IL from $400 (32 Rentals)

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

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
property at 5917 W Plank Rd

$650 - $775

1 To 2 Bedroom Rentals

Available Now

5917 W Plank Rd

BellevueIL61604
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Williamsburg Apartments
1 to 2 Bedroom Apartments

Williamsburg Apartments

1072 Olive StGalesburg, IL 61401
Corporate Housing
  • Utilities Included
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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
property at 1016 N Maple St

$775

1 Bedroom, 1 Bath Home for Rent

Available Now

1016 N Maple St

PrincetonIL61356

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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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

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 1-32, Page 1 of 1

La Fayette, IL Local Guide

Cheapest Available La Fayette Apartments for Rent and Nearby

 

The cheapest available apartment rental in La Fayette, IL is a 2 Beds unit found at Mayfair Manor priced from $550. 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 La Fayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mayfair Manor2x12BR,1BA$550
Hollow HillsStudioStudio,1BA$700
Willow Knolls ApartmentsStudioStudio,1BA$750
PARKWAY ESTATES2 Bedroom 1 Bath2BR,1BA$805
Nordic Villa ApartmentsLoft1BR,1BA$875
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$880
Haymeadow ApartmentsSpringhouse1BR,1BA$949
Forest Hills Apartments1x11BR,1BA$950
Hillcrest Apartments2 BR / 1 BA2BR,1BA$979
Woodsage Apartments1 Bedroom Unit1BR,1BA$1,145

Best Value Apartments for Rent in La Fayette, IL and Nearby

As of June 19, 2026 the best value apartment in the La Fayette 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 La Fayette apartment is the Three Bedrooms, Two Bathrooms Model at Flats at Dunlap starting at $1,595 with a $1.28 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for La Fayette apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
Flats at DunlapThree Bedrooms, Two Bathrooms3BR,2BA$1.28
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
The Grove ApartmentsSignature 2 Bed / 1.5 Bath2BR,1.5BA$1.32
PARKWAY ESTATES2 Bedroom 1 Bath2BR,1BA$0.86
Nordic Villa ApartmentsTownhouse2BR,1.5BA$1.28
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Forest Hills Apartments1x11BR,1BA$1.12
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$1.13
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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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!

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Frequently Asked Questions about Cheap La Fayette Apartments

How much is rent for a Cheap One Bedroom La Fayette Apartment?

The lowest price for a Cheap One Bedroom La Fayette Apartment is $875 at Nordic Villa Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in La Fayette is starting from $550 at Mayfair Manor.

What is the most affordable La Fayette Three Bedroom Apartment?

The best deal on a cheap La Fayette 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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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.