Cheap Apartments for Rent in Lancaster, IL from $300 (39 Rentals)

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

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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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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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
  • Utilities Included
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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included
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1900 N Willow Rd
1 to 3 Bedroom Apartments

1900 N Willow Rd

1900 N Willow RdEvansville, IN 47711

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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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included
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Eastland Apartments
1 to 2 Bedroom Apartments

Eastland Apartments

5308 Eden DrEvansville, IN 47715
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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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 $695. Fairway Plaza in the Business 41 neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $715. Here is today’s list of the most affordable Lancaster apartments for rent:

Apartment ListingModel NameBed/BathPriced From
SPRING VALLEY FLATSThe Redbud1BR,1BA$695
Fairway Plaza2 Bedroom2BR,1BA$715
Foxfire West Apartments1 Bedroom 1 Bath1BR,1BA$785
The Timbers ApartmentsThe Oak 1 BR 1 BA1BR,1BA$800
The Forge on MainStudio AStudio,1BA$800
Elmdale Apartments1 bed 1 bath1BR,1BA$800
Market Street ApartmentsStudio Apartment Home in Historic BuildingStudio,1BA$865
North ParkBerkshire2BR,1BA$899
Lakewood Flats2 Bedroom2BR,1BA$900
Copper Creek TownhomesA-1 Bedroom Ranch1BR,1BA$900

Best Value Apartments for Rent in Lancaster, IL and Nearby

As of October 27, 2025 the best value apartment in the Lancaster area is the $1.04 price per square foot 3BR Villa Model at Circle Point Villas in the starting from $1,595. The second greatest value Lancaster apartment is the Baron Model at The Brickyard Apartments starting at $1,540 with a $1.16 price per square foot in the Howell 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 Villas3BR Villa3BR,2BA$1.04
The Brickyard ApartmentsBaron2BR,2.5BA$1.16
Apartments@412BR/2.0BA2BR,2BA$1.11
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.50
Vail Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
North ParkHarrington2BR,1BA$1.02
Fairway Plaza2 Bedroom2BR,1BA$0.79
Mission Viejo VillasB- Barcelona1BR,1BA$1.13
Lakewood Flats2 Bedroom2BR,1BA$1.17
Copper Creek TownhomesA-1 Bedroom Ranch1BR,1BA$1.20

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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The 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.

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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 The Forge on Main listed at $800.

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

The lowest price for a Cheap One Bedroom Lancaster Apartment is $695 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 $880 at Foxfire West Apartments.

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 starts from $1,150.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.