Cheap Apartments for Rent in Lincoln, IL from $300 (37 Rentals)

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

property at 715 S Jefferson St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850

Total Monthly Price
$850

2 Bedroom, 1 Bath Home for Rent

Available Now

715 S Jefferson St, Unit 715

715 S Jefferson St
LincolnIL62656
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Plowfield Square
1 to 3 Bedroom Apartments

Plowfield Square

700 Malerich DrLincoln, IL 62656
  • Utilities Included
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Rivendell Estates
1 to 3 Bedroom Apartments

Rivendell Estates

13 Community DrLincoln, IL 62656
  • Utilities Included
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Lincoln Village
1 to 2 Bedroom Apartments

Lincoln Village

1000 N College StLincoln, IL 62656

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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Whispering Pines Apartments
Rent Specials
$600 - $950
Total Monthly Price

Total Monthly Price

Base Rent
$585 - $935
Required Monthly Fees
$15

Total Monthly Price
$600 - $950
1 to 2 Bedroom Apartments Available Now

Whispering Pines Apartments

2473 Ladley CtSpringfield, IL 62703
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  • Customer Reviewed
  • Utilities Included
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Woodcrest Apartment Homes
$647 - $1,100
Total Monthly Price

Total Monthly Price

Base Rent
$572 - $1,025
Required Monthly Fees
$75

Total Monthly Price
$647 - $1,100
Studio to 2 Bedroom Apartments Contact Us For Availability

Woodcrest Apartment Homes

3903 Camelot CircleDecatur, IL 62526
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  • Customer Reviewed
  • Utilities Included
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Lincoln Tower Apartments
$799 - $1,510
Total Monthly Price

Total Monthly Price

Base Rent
$739 - $1,450
Required Monthly Fees
$60

Total Monthly Price
$799 - $1,510
1 to 2 Bedroom Apartments Available Now

Lincoln Tower Apartments

520 S 2nd StSpringfield, IL 62701
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  • Customer Reviewed
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Hickory Point Apartments
$800 - $925
Total Monthly Price

Total Monthly Price

Base Rent
$740 - $865
Required Monthly Fees
$60

Total Monthly Price
$800 - $925
1 to 2 Bedroom Apartments Available Feb 27

Hickory Point Apartments

189 W Hickory Point RdDecatur, IL 62526
55+ Active Adult
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  • Customer Reviewed

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.

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West Mound Apartments
$900
Total Monthly Price

Total Monthly Price

Base Rent
$800
Required Monthly Fees
$100

Total Monthly Price
$900
2 Bedroom Apartments Contact Us For Availability

West Mound Apartments

3707 N Northhaven CtDecatur, IL 62526
Family Friendly
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  • Customer Reviewed
  • Utilities Included

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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215 N 3rd St
1 to 2 Bedroom Apartments

215 N 3rd St

215 N 3rd StHartsburg, IL 62643
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Lake Shore Apartments
1 to 2 Bedroom Apartments

Lake Shore Apartments

110 W Lake Shore DrSpringfield, IL 62703
  • Utilities Included
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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Included

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.

Lincoln, IL Local Guide

Cheapest Available Lincoln Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lincoln, IL is a 1 Bed unit found at Roosevelt School Apartments priced from $496. Washington Senior Apartments in the Downtown Bloomington neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $546. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Roosevelt School Apartments1 Bedroom1BR,1BA$496
Washington Senior ApartmentsStudioStudio,1BA$546
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$600
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$625
Safe Harbor PropertiesStudioStudio,1BA$730
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$785
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
106 S 4th St2 bedroom2BR,1BA$800
3TENB12BR,1BA$805
Capitol Plaza ApartmentsOne Bedroom, One Bath1BR,1BA$896

Best Value Apartments for Rent in Lincoln, IL and Nearby

As of February 15, 2026 the best value apartment in the Lincoln area is the $0.71 price per square foot Sunset Hills Model at Sunset Hills Apartments in the starting from $925. The second greatest value Lincoln apartment is the 2BR/ 1BA Model at East Douglas Apartments starting at $900 with a $0.75 price per square foot in the Downtown Bloomington 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.
Sunset Hills ApartmentsSunset Hills3BR,2BA$0.71
East Douglas Apartments2BR/ 1BA2BR,1BA$0.75
108 Oak Creek Plaza2/1 Vaulted Ceilings LVP Flooring2BR,1BA$1.04
The Quarry ApartmentsSlate2BR,1.5BA$0.88
Currency Commons Apartments2B2B2BR,2BA$1.14
2474 N FlorianUnit 102BR,1.5BA$1.00
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$0.87
3TENB12BR,1BA$0.91
Roosevelt School Apartments1 Bedroom1BR,1BA$0.66
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

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

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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 Roosevelt School Apartments listed at $502.

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

The lowest price for a Cheap One Bedroom Lincoln Apartment is $496 at Roosevelt School 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 $585 at Roosevelt School Apartments.

What is the most affordable Lincoln Three Bedroom Apartment?

The best deal on a cheap Lincoln Three Bedroom Apartment rental is at Roosevelt School Apartments and starts from $662.

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

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.