Cheap Apartments for Rent in Lima, IL from $300 (27 Rentals)

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

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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630 N 6th St
Studio Apartments

630 N 6th St

630 N 6th StBurlington, IA 52601

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Showing Results 1-27, Page 1 of 1

Lima, IL Local Guide

Cheapest Available Lima Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lima, IL is a Studio unit found at Macomb Rentals priced from $390. Mayfair Manor has the second lowest priced unit, which is a 2 Beds apartment currently listed from $525. Here is today’s list of the most affordable Lima apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Macomb RentalsStudio, 1 bathStudio,1BA$390
Mayfair Manor2x12BR,1BA$525
Smith and Royer Apartments1 Bedroom1BR,1BA$650
Bel Aire Apartments1 Bedroom1BR,1BA$695
Park Madison Apartments1BR/1BA1BR,1BA$700
1500 N Carolina St2X22BR,2BA$700
Green Gable CottagesGreen Gable - Memorial Park Rd1BR,1BA$750
The Burlington Apartments1BR/1BA1BR,1BA$795
School House Apartments1 Bedroom and 1 Bath1BR,1BA$800
Urbane424 ApartmentsS3 - Studio / 1 BathStudio,1BA$810

Best Value Apartments for Rent in Lima, IL and Nearby

As of May 01, 2025 the best value apartment in the Lima area is the $0.90 price per square foot Three Beds Two Baths Model at Emerson Garden Apartments in the starting from $1,400. The second greatest value Lima apartment is the 510 Layne Drive Model at Nexus TownHomes starting at $1,275 with a $1.28 price per square foot in the Ginger Ridge neighborhood. Here is today’s list of the best values for Lima apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Emerson Garden ApartmentsThree Beds Two Baths3BR,2BA$0.90
Nexus TownHomes510 Layne Drive2BR,1BA$1.28
Smith and Royer Apartments4 Bedroom 2 Bath4BR,2BA$1.46
Summer Street ApartmentsApartment 12BR,1BA$1.00
1500 N Carolina St2X22BR,2BA$0.78
School House Apartments1 Bedroom and 1 Bath1BR,1BA$0.89
Park Madison Apartments1BR/1BA1BR,1BA$0.93
Bel Aire Apartments2 Bedroom2BR,1BA$1.19
The Burlington Apartments1BR/1BA1BR,1BA$1.29
Stonegate Village ApartmentsOne Bedroom1BR,1BA$1.42

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lima, IL Rentals by Map

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See the most popular apartments and homes in Lima, IL

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Getting Around Lima, IL

Walk Score®

5 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

26 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lima Apartments

What is the Cheapest Studio apartment in Lima?

Currently the most affordable Cheap Studio Apartment in Lima is at Macomb Rentals listed at $390.

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

The lowest price for a Cheap One Bedroom Lima Apartment is $510 at Macomb Rentals.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lima is starting from $450 at Macomb Rentals.

What is the most affordable Lima Three Bedroom Apartment?

The best deal on a cheap Lima Three Bedroom Apartment rental is at 1500 N Carolina St and starts from $775.

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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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.