Cheap Apartments for Rent near Lancaster, IL from $300 (47 Rentals)

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

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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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
  • Utilities Included
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SPRING VALLEY FLATS
1 to 2 Bedroom Apartments

SPRING VALLEY FLATS

4400 Spring Valley RdEvansville, IN 47710
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1900 N Willow Rd
1 to 3 Bedroom Apartments

1900 N Willow Rd

1900 N Willow RdEvansville, IN 47711

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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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included
property at 1520 Main St

$675 - $775

1 To 2 Bedroom Rentals

Available Now

1520 Main St

VincennesIN47591
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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included
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Princeton Court
Studio to 2 Bedroom Apartments

Princeton Court

103 Princeton CtEvansville, IN 47715

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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Eastland Apartments
1 to 2 Bedroom Apartments

Eastland Apartments

5308 Eden DrEvansville, IN 47715
  • 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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Showing Results 1-47, Page 1 of 1

Lancaster, IL Local Guide

Cheapest Available Lancaster Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lancaster, IL is a 1 Bed unit found at SPRING VALLEY FLATS in the Oakhill neighborhood priced from $599. Anchor Court in the Howell neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here is today’s list of the most affordable Lancaster apartments for rent:

Apartment ListingModel NameBed/BathPriced From
SPRING VALLEY FLATSThe Redbud1BR,1BA$599
Anchor Court1BR/1.0BA1BR,1BA$625
Fairway Plaza1 Bedroom1BR,1BA$640
Southern Meadows Senior Living1 Bed Apt1BR,1BA$650
1210 Char Lee Dr1bed1bath1BR,1BA$660
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
Princeton Court1 Bed 1 Bath1BR,1BA$700
Woodbridge Place Apartments1x1-7001BR,1BA$799
Market Street ApartmentsStudio Apartment Home in Historic BuildingStudio,1BA$820
The Forge on MainStudioStudio,1BA$845

Best Value Apartments for Rent in Lancaster, IL and Nearby

As of July 29, 2026 the best value apartment in the Lancaster area is the $1.07 price per square foot Prime Living at Its Finest: Luxurious Stand-Alo... Model at Circle Point Villas in the in the Gibson County neighborhood starting from $1,650. The second greatest value Lancaster apartment is the 1BR/1.0BA Model at Apartments@41 starting at $1,200 with a $1.19 price per square foot in the Business 41 neighborhood. Here is today’s list of the best values for Lancaster apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Circle Point VillasPrime Living at Its Finest: Luxurious Stand-Alo...3BR,2BA$1.07
Apartments@411BR/1.0BA1BR,1BA$1.19
Baldwin Heights2 Bedroom2BR,1BA$1.13
Vail Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.10
Mission Viejo VillasB- Barcelona1BR,1BA$1.16
North ParkMcCallister1BR,1BA$1.10
1210 Char Lee Dr1bed1bath1BR,1BA$0.88
Fairway Plaza1 Bedroom1BR,1BA$0.91
Princeton Court1 Bed 1 Bath1BR,1BA$1.22
Southern Meadows Senior Living1 Bed Apt1BR,1BA$1.19

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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Quick Rent Budget Calculator

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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 Lancaster, IL Rentals by Map

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See the most popular apartments and homes in Lancaster, IL

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Frequently Asked Questions about Cheap Lancaster Apartments

What is the Cheapest Studio apartment in Lancaster?

Currently the most affordable Cheap Studio Apartment in Lancaster is at Market Street Apartments listed at $820.

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

The lowest price for a Cheap One Bedroom Lancaster Apartment is $599 at SPRING VALLEY FLATS.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lancaster is starting from $899 at SPRING VALLEY FLATS.

What is the most affordable Lancaster Three Bedroom Apartment?

The best deal on a cheap Lancaster Three Bedroom Apartment rental is at Lakewood Flats and Townhomes and starts from $1,260.

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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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.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.