Cheap Apartments for Rent near Lexington, IL from $530 (26 Rentals)

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

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Cortez Apartments
$825 - $940
Total Monthly Price

Total Monthly Price

Base Rent
$825 - $940
Total Monthly Price
$825 - $940
1 Bedroom Apartments Available Now

Cortez Apartments

2506-2512 E Washington StBloomington, IL 61704
Affordability
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314 Mecherle
1 to 2 Bedroom Apartments

314 Mecherle

314 Mecherle DrBloomington, IL 61701

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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property at 505 E Locust St

$795 - $850

1 To 2 Bedroom Rentals

Available Now

505 E Locust St

BloomingtonIL61701
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2 Curtis Ct
2 Bedroom Apartments

2 Curtis Ct

2 Curtis CtNormal, IL 61761
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Parkview Apartments
1 to 3 Bedroom Apartments

Parkview Apartments

101 Northfield DrNormal, IL 61761
  • Utilities Included

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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Showing Results 1-26, Page 1 of 1

Lexington, IL Local Guide

Cheapest Available Lexington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lexington, IL is a 3 Beds unit found at 701 Franklin in the Downtown Normal neighborhood priced from $530. Cortez Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
701 FranklinApt 13BR,1BA$530
Cortez ApartmentsUnfurnished1BR,1BA$825
Class Act Realty1 Bedroom1BR,1BA$835
Broadmoor Park Apartments1BR/1.0BA1BR,1BA$845
CollegePlace Uptown2BR/1BA - Upgrade2BR,1BA$860
East Douglas Apartments2BR/ 1BA2BR,1BA$900
Arbors at EastlandThe Oak1BR,1BA$925
Ironwood Gardens ApartmentsStudioStudio,1BA$982
Lancaster HeightsOne Bedroom1BR,1BA$1,000
The Apartments on Christopher Way2 Bed / 2 Bath (1st and 2nd Floor)2BR,2BA$1,175

Best Value Apartments for Rent in Lexington, IL and Nearby

As of August 24, 2026 the best value apartment in the Lexington area is the $0.49 price per square foot 4 Balcony Renovated Model at The Social on Hovey in the in the Downtown Normal neighborhood starting from $749. The second greatest value Lexington apartment is the 4x4 Furnished Townhome Model at The Social at Illinois State starting at $699 with a $0.47 price per square foot in the Downtown Normal neighborhood. Here is today’s list of the best values for Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Social on Hovey4 Balcony Renovated4BR,4BA$0.49
The Social at Illinois State4x4 Furnished Townhome4BR,4BA$0.47
The Social NormalThe Reggie Renovated4BR,4BA$0.54
East Douglas Apartments2BR/ 1BA2BR,1BA$0.75
3 Stortz DriveAll units2BR,2BA$1.08
701 FranklinApt 13BR,1BA$0.48
Ekstam Apartments2 Beds 2 Bath2BR,2BA$1.14
The Apartments on Christopher Way2 Bed / 2 Bath (1st and 2nd Floor)2BR,2BA$1.15
Rainbow Circle Apartments2 Bed / 2 Bath2BR,2BA$1.20
700 N Adelaide StRent Per Student for 22BR,1.5BA$0.77

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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Frequently Asked Questions about Cheap Lexington Apartments

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

The lowest price for a Cheap One Bedroom Lexington Apartment is $825 at Cortez Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lexington is starting from $850 at Class Act Realty.

What is the most affordable Lexington Three Bedroom Apartment?

The best deal on a cheap Lexington Three Bedroom Apartment rental is at 701 Franklin and starts from $530.

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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.