Cheap Apartments for Rent in Lincoln, IL from $300 (58 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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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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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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215 N 3rd St
1 to 2 Bedroom Apartments

215 N 3rd St

215 N 3rd StHartsburg, IL 62643

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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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
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Lake Shore Apartments
1 to 2 Bedroom Apartments

Lake Shore Apartments

110 W Lake Shore DrSpringfield, IL 62703
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Oak Creek Plaza
2 Bedroom Apartments

Oak Creek Plaza

108 Oak Creek PlzBloomington, IL 61704
  • Utilities Included

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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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 Lincoln Senior Flats priced from $400. Roosevelt School Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $502. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lincoln Senior Flats1 Bed 1 Bath1BR,1BA$400
Roosevelt School ApartmentsStudioStudio,1BA$502
Washington Senior ApartmentsStudioStudio,1BA$546
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$600
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$600
The Hickox CollectionThe Abe LincolnStudio,1BA$718
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$785
Safe Harbor Properties1 Bdr/ 1 Bath Private Balcony Capitol Views1BR,1BA$895
Capitol Plaza ApartmentsOne Bedroom, One Bath1BR,1BA$896
The Grove at Main2 Bed / 1 Bath - URB2BR,1BA$899

Best Value Apartments for Rent in Lincoln, IL and Nearby

As of August 20, 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
Traditions BloomingtonTwo Bedroom - Market2BR,2BA$1.18
The Grove at Main2 Bed / 1 Bath 1906L Tracy2BR,1BA$1.09
Currency Commons Apartments2B1B2BR,1BA$1.00
Safe Harbor Properties2 Bdr 1 Bath with Balcony. Capitol View.2BR,1BA$1.08
Oakwood EstatesTwo Bedroom One Bath2BR,1BA$0.87
Lincoln Senior Flats2 Bed 1 Bath2BR,1BA$0.97
2474 N Florian62BR,1.5BA$1.14
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16

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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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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

Explore Lincoln, IL Rentals by Map

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Frequently Asked Questions about Cheap Lincoln Apartments

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

The lowest price for a Cheap One Bedroom Lincoln Apartment is $400 at Lincoln Senior Flats.

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 Whispering Pines Apartments.

What is the most affordable Lincoln Three Bedroom Apartment?

The best deal on a cheap Lincoln Three Bedroom Apartment rental is at Sunset Hills Apartments and starts from $925.

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.

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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.