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

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

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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property at 107 N 1st St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

3 Bedroom, 2 Bath Home for Rent

Available Now

107 N 1st St

IndustryIL61440

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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630 N 6th St
Studio to 1 Bedroom Apartments

630 N 6th St

630 N 6th StBurlington, IA 52601
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Chateau Apartments
1 to 2 Bedroom Apartments

Chateau Apartments

114 26th StFort Madison, IA 52627
  • Utilities Included

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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Keokuk Family Flats
1 to 3 Bedroom Apartments

Keokuk Family Flats

2812 Lincoln AveKeokuk, IA 52632
  • Utilities Included
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601-605 W Orchard St
Studio to 3 Bedroom Apartments

601-605 W Orchard St

601-605 W Orchard StMacomb, IL 61455
Student Housing
  • 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.

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Showing Results 1-37, Page 1 of 1

Loraine, IL Local Guide

Cheapest Available Loraine Apartments for Rent and Nearby

 

The cheapest available apartment rental in Loraine, IL is a Studio unit found at Macomb Rentals priced from $390. Jacksonville Affordable Housing has the second lowest priced unit, which is a 1 Bed apartment currently listed from $485. Here is today’s list of the most affordable Loraine apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Macomb RentalsStudio, 1 bathStudio,1BA$390
Jacksonville Affordable Housing1 Bedroom 50%1BR,1BA$485
Smith and Royer Apartments1 Bedroom Side Apartment1BR,1BA$550
Bel Aire Apartments2 Bedroom2BR,1BA$695
Green Gable CottagesGreen Gable 1 Bedroom1BR,1BA$750
Park Madison Apartments1BR/1BA1BR,1BA$750
Caspian Village Apartments1 Bedroom, 1 Bathroom1BR,1BA$750
Summer Street ApartmentsStudioStudio,1BA$750
Laborer's Home Development IV, For Age 62+1 BR1BR,1BA$830
New Eastlawn ApartmentsTwo Bedroom2BR,1BA$850

Best Value Apartments for Rent in Loraine, IL and Nearby

As of May 23, 2026 the best value apartment in the Loraine area is the $0.85 price per square foot 3 BR / 2 BA Model at Creekside Park in the starting from $1,029. The second greatest value Loraine apartment is the Blaul Lofts - 402 Model at Blaul Lofts starting at $1,020 with a $1.00 price per square foot in the Ginger Ridge neighborhood. Here is today’s list of the best values for Loraine apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Creekside Park3 BR / 2 BA3BR,2BA$0.85
Blaul LoftsBlaul Lofts - 4021BR,1BA$1.00
Westland Village2x12BR,1BA$0.89
Churchill LoftsChurchill Lofts - 2051BR,1BA$1.08
Black Hawk Village2 bedroom2BR,1BA$1.19
School House Apartments1 Bedroom and 1 Bath1BR,1BA$1.06
New Eastlawn ApartmentsTwo Bedroom2BR,1BA$1.03
Park Madison Apartments1BR/1BA1BR,1BA$1.00
Bel Aire Apartments2 Bedroom2BR,1BA$1.11
Jacksonville Affordable Housing1 Bedroom 60%1BR,1BA$0.88

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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Quick Rent Budget Calculator

How much rent can you afford?

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 Loraine, IL Rentals by Map

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See the most popular apartments and homes in Loraine, IL

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Frequently Asked Questions about Cheap Loraine Apartments

What is the Cheapest Studio apartment in Loraine?

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

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

The lowest price for a Cheap One Bedroom Loraine Apartment is $485 at Jacksonville Affordable Housing.

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

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

What is the most affordable Loraine Three Bedroom Apartment?

The best deal on a cheap Loraine Three Bedroom Apartment rental is at Creekside Park and starts from $1,029.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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.