Cheap Apartments for Rent in Lancaster, IL from $300 (45 Rentals)

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

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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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
  • Utilities Included

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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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
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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

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

Eastland Apartments

5308 Eden DrEvansville, IN 47715
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 $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
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
The Timbers ApartmentsThe Oak 1 BR 1 BA1BR,1BA$750
Lakewood Flats and Townhomes1sm wd1BR,1BA$765
Princeton Court1 Bed 1 Bath1BR,1BA$775
Foxfire West Apartments1.1 NS1BR,1BA$795
TERRA TRACEThe Dogwood1BR,1BA$799
Elmdale Apartments1 bed 1 bath1BR,1BA$800
Apartments@411BR/1.0BA1BR,1BA$800

Best Value Apartments for Rent in Lancaster, IL and Nearby

As of April 30, 2026 the best value apartment in the Lancaster area is the $0.47 price per square foot 4BR/2BA - Furnished Model at Eagle Village - Historical Access in the in the Evansville West Side neighborhood starting from $565. The second greatest value Lancaster apartment is the 2 Bed, 2 Bath Model at The Westcott starting at $1,283 with a $1.19 price per square foot in the Fielding Court 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.
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
The Westcott2 Bed, 2 Bath2BR,2BA$1.19
North ParkBerkshire2BR,1.5BA$1.12
Mission Viejo VillasB- Barcelona1BR,1BA$1.16
Southern Meadows Senior Living2 Bed Apt2BR,2BA$1.09
Copper Creek TownhomesA-1 Bedroom Ranch1BR,1BA$1.23
TERRA TRACEThe Eastern Redbud1BR,1BA$1.32
Woodbridge PlaceThe Flowering Pink Dogwood1BR,1BA$1.21
Foxfire West Apartments1.1 NS1BR,1BA$1.23
Valoré at Hidden HillsThe Pine - One Bedroom Apartment Home1BR,1BA$1.25

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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Quick Rent Budget Calculator

How much rent can you afford?

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

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 $850 at Southern Meadows Senior Living.

What is the most affordable Lancaster Three Bedroom Apartment?

The best deal on a cheap Lancaster Three Bedroom Apartment rental is at Baldwin Heights and starts from $1,280.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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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.