Cheap Apartments for Rent in Mattoon, IL from $413 (45 Rentals)

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

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17th Place Apartments
1 to 2 Bedroom Apartments

17th Place Apartments

2200 S 17th StMattoon, IL 61938
  • Utilities Included
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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938
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616 S 6th St
Studio to 2 Bedroom Apartments

616 S 6th St

616 S 6th StMattoon, IL 61938

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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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
  • Utilities Included

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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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • 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.

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1905 12th St
1 to 3 Bedroom Apartments

1905 12th St

1905 12th StCharleston, IL 61920
Student Housing
  • 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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Mattoon, IL Local Guide

Cheapest Available Mattoon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Mattoon, IL is a 1 Bed unit found at Country Place-Moweaqua I & ll priced from $497. 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 Mattoon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Country Place-Moweaqua I & ll1 Bedroom1BR,1BA$497
Roosevelt School ApartmentsStudioStudio,1BA$502
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
Westport ApartmentsTwo Bedroom2BR,2BA$554
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$600
Arthur Ave Apartments1x11BR,1BA$610
Timber CoveThe Yawl1BR,1BA$790
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
Campus Suites1 Bed 1 Bath1BR,1BA$830
Park Place1639, 2 bed + study2BR,1BA$850

Best Value Apartments for Rent in Mattoon, IL and Nearby

As of September 12, 2026 the best value apartment in the Mattoon area is the $0.99 price per square foot 3 Bed 2.5 Bath Model at Panther Heights in the starting from $1,380. The second greatest value Mattoon apartment is the Millennium Apartments 2BR/2BA 26/27 Waiting List Model at The Millennium Apartments starting at $610 with a $0.51 price per square foot . Here is today’s list of the best values for Mattoon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Panther Heights3 Bed 2.5 Bath3BR,2.5BA$0.99
The Millennium ApartmentsMillennium Apartments 2BR/2BA 26/27 Waiting List2BR,2BA$0.51
Melrose on 4thMelrose Apartments 2BR/2BA 26/27 Waiting List2BR,2BA$0.55
Westport ApartmentsTwo Bedroom2BR,2BA$0.58
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR,1.5BA$0.38
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
Park Place1627, Large 3 Bed3BR,1BA$1.15
Timber CoveThe Yawl1BR,1BA$1.13
Country Place-Moweaqua I & ll1 Bedroom1BR,1BA$0.76
Arthur Ave Apartments1x11BR,1BA$0.97

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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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.

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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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Best Local Schools in
Mattoon, IL

School data provided by Great Schools

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

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Frequently Asked Questions about Cheap Mattoon Apartments

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

The lowest price for a Cheap One Bedroom Mattoon Apartment is $497 at Country Place-Moweaqua I & ll.

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

Today's best deal for a Cheap Two Bedroom Apartment in Mattoon is starting from $507 at RESERVE AT LAKEVIEW.

What is the most affordable Mattoon Three Bedroom Apartment?

The best deal on a cheap Mattoon Three Bedroom Apartment rental is at Park Place and starts from $945.

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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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.

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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.