Cheap Apartments for Rent in Lane, IL from $400 (43 Rentals)

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

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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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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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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314 Mecherle
1 to 2 Bedroom Apartments

314 Mecherle

314 Mecherle DrBloomington, IL 61701
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Fairmont Apartments
1 to 2 Bedroom Apartments

Fairmont Apartments

717 Fairmont DrBloomington, IL 61704
  • Utilities Included

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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Oak Creek Plaza
2 Bedroom Apartments

Oak Creek Plaza

108 Oak Creek PlzBloomington, IL 61704
  • Utilities Included
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1 White Place
Studio to 2 Bedroom Apartments

1 White Place

1 White PlBloomington, IL 61701
Showing Results 1-43, Page 1 of 1

Lane, IL Local Guide

Cheapest Available Lane Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lane, IL is a Studio unit found at Roosevelt School Apartments priced from $502. RESERVE AT LAKEVIEW has the second lowest priced unit, which is a 2 Beds apartment currently listed from $507. Here is today’s list of the most affordable Lane apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Roosevelt School ApartmentsStudioStudio,1BA$502
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
Stones CrossingNice one bedroom efficiency apartment1BR,1BA$600
Bradlee Park ApartmentsStudioStudio,1BA$650
Timber CoveThe RegattaStudio,1BA$690
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$785
Broadmoor ParkCortez 1 Bedroom 1 Bath1BR,1BA$795
Cortez ApartmentsUnfurnished1BR,1BA$825
Currency Commons Apartments1B1B1BR,1BA$840
Arbors at EastlandThe Oak1BR,1BA$845

Best Value Apartments for Rent in Lane, IL and Nearby

As of June 11, 2026 the best value apartment in the Lane area is the $0.96 price per square foot 3BR/1.5BA Model at Decatur Flats in the starting from $1,199. The second greatest value Lane apartment is the 2BR/ 1BA Model at East Douglas Apartments starting at $900 with a $0.75 price per square foot in the Downtown Bloomington neighborhood. Here is today’s list of the best values for Lane apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Decatur Flats3BR/1.5BA3BR,1.5BA$0.96
East Douglas Apartments2BR/ 1BA2BR,1BA$0.75
3 Stortz DriveAll units2BR,2BA$1.08
Oak Creek Plaza2/1 Vaulted Ceilings LVP Flooring2BR,1BA$1.04
Meadowview Apartments - MahometThree Bedroom Two Bathroom3BR,2BA$0.87
Ekstam Apartments2 Beds 2 Bath2BR,2BA$1.14
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$0.87
The Oaks2 Bed - Oaks2BR,1BA$1.11
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
2474 N Florian102BR,1.5BA$1.13

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

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 Lane, IL Rentals by Map

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See the most popular apartments and homes in Lane, IL

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Frequently Asked Questions about Cheap Lane Apartments

What is the Cheapest Studio apartment in Lane?

Currently the most affordable Cheap Studio Apartment in Lane is at Roosevelt School Apartments listed at $502.

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

The lowest price for a Cheap One Bedroom Lane Apartment is $600 at Stones Crossing.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lane is starting from $507 at RESERVE AT LAKEVIEW.

What is the most affordable Lane Three Bedroom Apartment?

The best deal on a cheap Lane Three Bedroom Apartment rental is at Meadowview Apartments - Mahomet and starts from $960.

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 How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.