
Cheap Homes for Rent in La Fayette, IL from $700 (14 Rentals)
Search the lowest-cost Homes available for rent right now in La Fayette.


305 N Pleasant View St

43 W North St

109 E Jackson St

1003 6th St

611 W Matthews St

790 Arnold St
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.

591 Clark St

187 Silver St

3207 W Willow Knolls Dr

3500 Yorkshire

857 E Knox St

4130 N Rochelle Ln

816 W Virginia Ave
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.
La Fayette, IL Local Guide

How much does it cost to rent a home in La Fayette?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| La Fayette 2 Bedroom Homes for Rent | $1,114 | $700 | $1,700 |
| La Fayette 3 Bedroom Homes for Rent | $1,727 | $950 | $2,750 |
| La Fayette 4 Bedroom Homes for Rent | $2,333 | $2,099 | $2,600 |
Browse Top Homes for Rent in La Fayette
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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 |
| Willow Way | 1 bed 1 bath Unit 1 bldg 2 | 1BR,1BA | $800 |
Best Value Apartments for Rent in La Fayette, IL and Nearby
As of December 27, 2025 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 2 Bedroom, 2 Bath Model at Camden Hills Apartments starting at $1,300 with a $1.23 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 |
| Camden Hills Apartments | 2 Bedroom, 2 Bath | 2BR,2BA | $1.23 |
| 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 |
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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about La Fayette
What type of rentals are currently available in La Fayette?
There are currently 38 Apartments for Rent in La Fayette, IL with pricing that ranges from $525 to $1,957. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in La Fayette ranging from $700 to $2,750.
What is the current price range for Rental Homes in La Fayette?
Today's rental pricing for Homes for Rent, Condos and Townhomes in La Fayette ranges from $700 to $2,750 with an average monthly rent of $1,468.
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

How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!