Cheap Apartments for Rent in Lebanon, IL from $600 (60 Rentals)

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

property at 428 W Dee St

$1,075

Total Monthly Price

Total Monthly Price

Base Rent
$1,075
Total Monthly Price
$1,075

2 Bedroom, 2 Bath Condo for Rent

Available Sep 4

428 W Dee St, Unit 52

428 W Dee St
LebanonIL62254
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Up Towne Apartments
2 to 3 Bedroom Apartments

Up Towne Apartments

110 Northtowne StLebanon, IL 62254
  • Utilities Included

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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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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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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Lakewood Estates
1 to 2 Bedroom Apartments

Lakewood Estates

1114 E 3rd StO'Fallon, IL 62269
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215 anderson lane A
1 to 2 Bedroom Apartments

215 anderson lane A

215-223 Anderson LnShiloh, IL 62221
  • Utilities Included
property at 106 Lee Dr

$950

2 Bedroom Rentals

Available Now

106 Lee Dr

O'FallonIL62269

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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Lebanon, IL Local Guide

Cheapest Available Lebanon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lebanon, IL is a 2 Beds unit found at Cedars of Lebanon Apartments in the Metro East neighborhood priced from $200. Bouse Apartment Homes in the Belleville neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here is today’s list of the most affordable Lebanon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cedars of Lebanon ApartmentsTwo Bedroom2BR,1BA$200
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$845
Wilson ApartmentsTwo Bedroom - Laundry In Unit2BR,1BA$875
Linwood ApartmentsTwo Bed One Bath2BR,1BA$1,000
Shiloh Commons HoldingsA1 1 Bed | 1 Bath1BR,1BA$1,009
Shadow Ridge Apartments1 Bed- 600 sq ft1BR,1BA$1,025
The Meadows at Shadow Ridge1.1- 612 sq ft1BR,1BA$1,050
Storyboard on Park TerracePark Terrace B12BR,1BA$1,150
Storyboard on Lake ChristineLake Christine B12BR,1BA$1,160
Reside Here Apartments & Rentals2BR/1.5BA2BR,1BA$1,195

Best Value Apartments for Rent in Lebanon, IL and Nearby

As of August 12, 2026 the best value apartment in the Lebanon area is the $1.20 price per square foot Hayden B1 Model at Storyboard on Hayden in the in the Metro East neighborhood starting from $1,500. The second greatest value Lebanon apartment is the Park Entrance B2 Model at Storyboard on Park Entrance starting at $1,430 with a $1.19 price per square foot in the O'Fallon neighborhood. Here is today’s list of the best values for Lebanon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Storyboard on HaydenHayden B12BR,2.5BA$1.20
Storyboard on Park EntrancePark Entrance B22BR,2BA$1.19
Statewood ManorDuplex2BR,1BA$1.32
1118 E 3rd St2 Beds, 1 bath2BR,1BA$1.18
Linwood ApartmentsTwo Bed One Bath2BR,1BA$0.91
Reside Here Apartments & Rentals2BR/1.5BA2BR,1.5BA$1.09
Storyboard on Lake ChristineLake Christine B12BR,1BA$1.16
Metro Apartments At Collinsville2BR/1.5B TH Upgraded2BR,1.5BA$1.25
Wilson ApartmentsTwo Bedroom - Laundry In Unit2BR,1BA$1.17
Cedars of Lebanon ApartmentsStudioStudio ,1BA$0.44

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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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 Lebanon, IL Rentals by Map

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Frequently Asked Questions about Cheap Lebanon Apartments

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

The lowest price for a Cheap One Bedroom Lebanon Apartment is $200 at Cedars of Lebanon Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lebanon is starting from $200 at Cedars of Lebanon Apartments.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.