Cheap Apartments for Rent in Lincoln, IL from $500 (29 Rentals)

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

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Plowfield Square
1 to 3 Bedroom Apartments

Plowfield Square

700 Malerich DrLincoln, IL 62656
  • Utilities Included
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Lincoln Village
1 to 2 Bedroom Apartments

Lincoln Village

1000 N College StLincoln, IL 62656
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Rivendell Estates
3 Bedroom Apartments

Rivendell Estates

13 Community DrLincoln, IL 62656
  • Utilities Included

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.

Read Article

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.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Included

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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Showing Results 1-29, Page 1 of 1

Lincoln, IL Local Guide

Cheapest Available Lincoln Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lincoln, IL is a Studio unit found at Washington Senior Apartments in the Downtown Bloomington neighborhood priced from $548. Stones Crossing Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Washington Senior ApartmentsStudioStudio,1BA$548
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$625
The Hickox CollectionThe HickoxStudio,1BA$628
Moundford Terrace2 Bedroom 1 Bath2BR,1BA$725
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
106 S 4th St2 bedroom2BR,1BA$800
Currency Commons Apartments1B1B1BR,1BA$820
Whispering Pines Apartments1 Bed, 1 Bath1BR,1BA$825
Safe Harbor Properties1 Bdr 1 Bath with Balcony. WiFi Included.1BR,1BA$845
Butler Place2 Beds, 1 Baths2BR,1BA$850

Best Value Apartments for Rent in Lincoln, IL and Nearby

As of June 24, 2025 the best value apartment in the Lincoln area is the $1.00 price per square foot 3BR/ 1BA Model at East Douglas Apartments in the in the Downtown Bloomington neighborhood starting from $1,200. The second greatest value Lincoln apartment is the Walk to work. Capitol View. WIFI Included. Model at Safe Harbor Properties starting at $925 with a $1.03 price per square foot in the Downtown Springfield neighborhood. Here is today’s list of the best values for Lincoln apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
East Douglas Apartments3BR/ 1BA3BR,1BA$1.00
Safe Harbor PropertiesWalk to work. Capitol View. WIFI Included.2BR,1BA$1.03
3TENB12BR,1BA$0.99
Traditions BloomingtonOne Bedroom - Income Restricted1BR,1BA$1.10
Danbury Court ApartmentsOne Bedroom, One Bath (affordable)1BR,1BA$1.08
2474 N Florian1st Floor2BR,1.5BA$1.13
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Moundford Terrace2 Bedroom 1 Bath2BR,1BA$1.06
106 S 4th St2 bedroom2BR,1BA$1.21
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16

Quick Rent Budget Calculator

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

Explore Lincoln, IL Rentals by Map

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See the most popular apartments and homes in Lincoln, IL

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Getting Around Lincoln, IL

Walk Score®

53 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

47 / 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 Lincoln Apartments

What is the Cheapest Studio apartment in Lincoln?

Currently the most affordable Cheap Studio Apartment in Lincoln is at Washington Senior Apartments listed at $548.

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

The lowest price for a Cheap One Bedroom Lincoln Apartment is $625 at Stones Crossing Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lincoln is starting from $725 at Moundford Terrace.

What is the most affordable Lincoln Three Bedroom Apartment?

The best deal on a cheap Lincoln Three Bedroom Apartment rental is at East Douglas Apartments and starts from $1,200.

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

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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.

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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.