
Cheap Homes for Rent in Magnolia, IL from $700 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Magnolia.


921 1st St

150-152 Fauber Ln

108 S 3rd Ave
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.

1014 Bratton Ave

205 Sandra Ave

5012 N Ogden Ave

246 Broadway St

3119 W Willow Knolls Dr
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.

345 6th St

1431 E Paris Ave
Magnolia, IL Local Guide

How much does it cost to rent a home in Magnolia?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Magnolia 2 Bedroom Homes for Rent | $1,333 | $800 | $2,950 |
Magnolia 3 Bedroom Homes for Rent | $1,763 | $1,150 | $2,700 |
Browse Top Homes for Rent in Magnolia
Explore Magnolia
Magnolia, IL Local Guide
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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. Knoxville Manor Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Magnolia apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Colonial Village | 1 Bedroom | 1BR,1BA | $625 |
Knoxville Manor Apartments | Garden Level | 1BR,1BA | $675 |
Willow Knolls Apartments | Studio | Studio,1BA | $700 |
Winkler Village Apartments | 1BD 1BTH | 1BR,1BA | $725 |
Woods + Meadow Apartments | Studio Apartment in North Peoria | Studio,1BA | $775 |
Best Value Apartments for Rent in Magnolia, IL and Nearby
As of May 28, 2025 the best value apartment in the Magnolia area is the $1.14 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the in the Northmoor Knolls neighborhood starting from $1,550. The second greatest value Magnolia apartment is the 3 Bed 1 Bath Model at 1512 E Gardner Ln starting at $795 with a $0.66 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Magnolia apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Eagle Point Apartments | 3 Bedroom 2 Bath | 2BR,2BA | $1.14 |
1512 E Gardner Ln | 3 Bed 1 Bath | 3BR,1BA | $0.66 |
The Flats at Dunlap | 2B2B-Original | 2BR,2BA | $1.05 |
The Grove Apartments | Signature 2 Bed / 1.5 Bath | 2BR,1.5BA | $1.13 |
504 S Sweetbriar Dr | Model | 2BR,1BA | $1.11 |
Phoenix Apartments of Pontiac | One Bedroom Deluxe | 1BR,1BA | $0.94 |
Brighton Woods | 1Bed1Bath | 1BR,1BA | $1.06 |
Versailles Apartments | Tradition - 1BR / 1BA | 1BR,1BA | $1.10 |
Winkler Village Apartments | 1BD 1BTH | 1BR,1BA | $1.06 |
Colonial Village | 1 Bedroom | 1BR,1BA | $1.14 |
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.
Frequently Asked Questions about Magnolia
What type of rentals are currently available in Magnolia?
There are currently 41 Apartments for Rent in Magnolia, IL with pricing that ranges from $650 to $2,675. There are also 31 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnolia ranging from $775 to $2,950.
What is the current price range for Rental Homes in Magnolia?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Magnolia ranges from $775 to $2,950 with an average monthly rent of $1,222.
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.

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.

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.

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.

Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.