Cheap Apartments for Rent near Magnolia, IL from $625 (39 Rentals)

How Many Bedrooms?Done
Price OptionsDone
Price Range
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
close
View Me
Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
close
View Me
Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
close
View Me
Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free
property at 137 N 4250th Rd
$800
1 Bedroom, 1 Bath Home for Rent
Available Now

137 N 4250th Rd

MendotaIL61342
  • Smoke Free

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.

Read Article
property at 134 Marquette St
$850
2 Bedroom, 1 Bath Home for Rent
Available Now

134 Marquette St

La SalleIL61301
  • Smoke Free
close
View Me
1512 E Gardner Ln
1 to 3 Bedroom Apartments

1512 E Gardner Ln

1512 E Gardner LnPeoria Heights, IL 61616
close
View Me
The Hillsides
1 to 2 Bedroom Apartments

The Hillsides

4731 N Galena RdPeoria Heights, IL 61616
  • Utilities Included

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.

Read Article
close
View Me
1101 Cambridge Dr
2 Bedroom Apartments

1101 Cambridge Dr

1101 Cambridge DrWashington, IL 61571
  • Utilities Included
Showing Results 1-39, Page 1 of 1

Magnolia, IL Local Guide

Cheapest Available Magnolia Apartments for Rent and Nearby

 

The cheapest available apartment rental in Magnolia, IL is a 1 Bed unit found at Colonial Village priced from $625. Winkler Village Apartments in the Woodford County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Magnolia apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Colonial Village1 Bedroom1BR, 1BA$625
Winkler Village Apartments1BD 1BTH1BR, 1BA$725
Willow Knolls ApartmentsStudio / 1 BathStudio, 1BA$799
Knoxville Manor1BR/1.0BA1BR, 1BA$850
Nordic Villa ApartmentsLoft1BR, 1BA$875
1512 E Gardner Ln1BR/1.0BA1BR, 1BA$875
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR, 1BA$895
The Village on UniversityTucker Remodel Garden Level1BR, 1BA$955
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR, 1BA$975
Hillcrest Apartments2 BR / 1 BA2BR, 1BA$979

Best Value Apartments for Rent in Magnolia, IL and Nearby

As of September 20, 2026 the best value apartment in the Magnolia area is the $1.18 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the Northmoor Knolls neighborhood starting from $1,600. The second greatest value Magnolia apartment is the 2x2 Model at Cedar Creek Apartments starting at $1,395 with a $1.16 price per square foot. Here is today’s list of the best values for Magnolia apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR, 2BA$1.18
Cedar Creek Apartments2x22BR, 2BA$1.16
Camden Hills Apartments2 Bedroom, 2 Bath2BR, 2BA$1.23
The Mallard Way Rental Community1 bed 1 bath1BR, 1BA$1.22
Nordic Villa ApartmentsTownhouse2BR, 1.5BA$1.28
Hillcrest Apartments2 BR / 1 BA2BR, 1BA$1.15
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR, 1BA$1.05
Knoxville Manor1BR/1.0BA1BR, 1BA$1.21
Winkler Village Apartments1BD 1BTH1BR, 1BA$1.06
Colonial Village1 Bedroom1BR, 1BA$1.14

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.

Read Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Magnolia, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Magnolia, IL

View Map
Magnolia, IL Apartments Map
View Map
Magnolia, IL Rental Homes Map

Frequently Asked Questions about Cheap Magnolia Apartments

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

The lowest price for a Cheap One Bedroom Magnolia Apartment is $625 at Colonial Village.

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

Today's best deal for a Cheap Two Bedroom Apartment in Magnolia is starting from $895 at Phoenix Apartments of Pontiac.

What is the most affordable Magnolia Three Bedroom Apartment?

The best deal on a cheap Magnolia Three Bedroom Apartment rental is at The Mallard Way Rental Community and starts from $1,200.

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

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.

decorative image for How Commercial-to-Residential Property Conversions Help the Housing Crisis article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

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.