
Cheap Apartments for Rent in Lima, IL from $300 (18 Rentals)
Search the lowest-cost Apartments available for rent right now in Lima.


Macomb Rentals
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.

112 E Franklin St

Smith and Royer Apartments

Aspen Court

PARKWAY ESTATES

Monroe City Senior Housing 62+

1500 N Carolina St
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.

19584 IL-96

226 Locust St

304 S 2nd St

106 S Washington St
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.
Lima, IL Local Guide

How much does it cost to rent an apartment in Lima?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Lima Studio Apartments | $894 | $390 | $1,200 |
Lima 1 Bedroom Apartments | $857 | $510 | $1,800 |
Lima 2 Bedroom Apartments | $1,107 | $450 | $1,800 |
Lima 3 Bedroom Apartments | $1,423 | $340 | $1,900 |
Lima 4 Bedroom Apartments | $1,375 | $600 | $1,800 |
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Lima, IL Local Guide
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Cheapest Available Lima Apartments for Rent and Nearby
 The cheapest available apartment rental in Lima, IL is a 2 Beds unit found at Cedar Creek Crossing Apartments priced from $300. Macomb Rentals has the second lowest priced unit, which is a Studio apartment currently listed from $390. Here is today’s list of the most affordable Lima apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Cedar Creek Crossing Apartments | 2 Bed 2 Bath | 2BR,2BA | $300 |
Macomb Rentals | Studio, 1 bath | Studio,1BA | $390 |
Mayfair Manor | 2x1 | 2BR,1BA | $525 |
Smith and Royer Apartments | 1 Bedroom | 1BR,1BA | $550 |
Williamsburg Apartments | 1 Bedroom/1 Bath | 1BR,1BA | $675 |
Best Value Apartments for Rent in Lima, IL and Nearby
As of July 30, 2025 the best value apartment in the Lima area is the $0.89 price per square foot Churchill Lofts - 316 Model at Churchill Lofts in the in the Ginger Ridge neighborhood starting from $1,498. The second greatest value Lima apartment is the Three Beds Two Baths Model at Emerson Garden Apartments starting at $1,400 with a $1.08 price per square foot . Here is today’s list of the best values for Lima apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Churchill Lofts | Churchill Lofts - 316 | 2BR,1BA | $0.89 |
Emerson Garden Apartments | Three Beds Two Baths | 3BR,2BA | $1.08 |
River Oaks Trails | 2 Beds, 2 baths | 2BR,2BA | $0.90 |
1500 N Carolina St | 3x2 | 3BR,2BA | $1.00 |
Nexus TownHomes | 510 Layne Drive | 2BR,1BA | $1.28 |
Cedar Creek Crossing Apartments | 2 Bed 2 Bath | 2BR,2BA | $0.31 |
Blaul Lofts | Blaul Lofts - 312 | 1BR,1BA | $0.98 |
Bel Aire Apartments | 1 Bedroom | 1BR,1BA | $1.28 |
Williamsburg Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.24 |
Monroe City Senior Housing 62+ | 1 Bed 1 Bath | 1BR,1BA | $1.14 |
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Lima, IL
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 $300 at Cedar Creek Crossing Apartments.
What is the most affordable Lima Three Bedroom Apartment?
The best deal on a cheap Lima Three Bedroom Apartment rental is at Cedar Creek Crossing Apartments and starts from $340.
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.

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.