
Cheap Apartments for Rent in La Fayette, IL from $300 (13 Rentals)
Search the lowest-cost Apartments available for rent right now in La Fayette.


PARKWAY ESTATES

Willow Knolls Apartments

Hollow Hills

Woods + Meadow Apartments

Versailles Apartments
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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.

Willow Way

Swing's Leisure Apartments

Tiffany Pointe

305 N Pleasant View St

Williamsburg Apartments

43 W North St
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.

109 E Jackson St
La Fayette, IL Local Guide

How much does it cost to rent an apartment in La Fayette?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| La Fayette Studio Apartments | $785 | $700 | $1,102 |
| La Fayette 1 Bedroom Apartments | $1,086 | $690 | $1,580 |
| La Fayette 2 Bedroom Apartments | $1,321 | $525 | $1,841 |
| La Fayette 3 Bedroom Apartments | $1,218 | $915 | $1,907 |
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La Fayette, IL Local Guide
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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 $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 La Fayette apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Mayfair Manor | 2x1 | 2BR,1BA | $525 |
| Hollow Hills | Studio | Studio,1BA | $700 |
| Willow Knolls Apartments | Studio | Studio,1BA | $700 |
| Woods + Meadow Apartments | Studio Apartment in North Peoria | Studio,1BA | $725 |
| Versailles Apartments | Monarch - 1BR / 1BA | 1BR,1BA | $740 |
Best Value Apartments for Rent in La Fayette, IL and Nearby
As of February 01, 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 Two Bedrooms, Two Bathrooms Model at Flats at Dunlap starting at $1,075 with a $1.08 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Eagle Point Apartments | 3 Bedroom 2 Bath | 2BR,2BA | $1.18 |
| Flats at Dunlap | Two Bedrooms, Two Bathrooms | 2BR,2BA | $1.08 |
| 504 S Sweetbriar Dr | 2 Beds, 1 Baths | 2BR,1BA | $0.95 |
| PARKWAY ESTATES | 2 Bedroom 1 Bath | 2BR,1BA | $0.86 |
| Hillcrest Apartments | 2 BR / 1 BA | 2BR,1BA | $1.12 |
| Forest Hill Apartments | 1x1 | 1BR,1BA | $1.12 |
| Nordic Villa Apartments | Loft | 1BR,1BA | $1.18 |
| Hollow Hills | Studio | Studio ,1BA | $1.08 |
| Woods + Meadow Apartments | Studio Apartment in North Peoria | Studio ,1BA | $1.12 |
| Versailles Apartments | Monarch - 1BR / 1BA | 1BR,1BA | $1.17 |
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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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Cheap La Fayette Apartments
What is the Cheapest Studio apartment in La Fayette?
Currently the most affordable Cheap Studio Apartment in La Fayette is at Willow Knolls Apartments listed at $700.
How much is rent for a Cheap One Bedroom La Fayette Apartment?
The lowest price for a Cheap One Bedroom La Fayette Apartment is $740 at Versailles 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 $525 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

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.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.