40 Mahoning Ave
RantoulIL61866
Cheap Homes for Rent in Melvin, IL from $400 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Melvin.
409 E Campbell Ave
RantoulIL61866
1088 Eastview Dr
RantoulIL61866
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.
418 N High St
RantoulIL61866
1217 W Bradley Ave
ChampaignIL61821
1303 Brian Pl
UrbanaIL61802
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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Melvin, IL Local Guide
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How much does it cost to rent a home in Melvin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Melvin 2 Bedroom Homes for Rent | $1,469 | $425 | $2,325 |
| Melvin 3 Bedroom Homes for Rent | $1,941 | $1,350 | $2,550 |
| Melvin 4 Bedroom Homes for Rent | $2,740 | $1,950 | $3,145 |
| Melvin 5 Bedroom Homes for Rent | $2,800 | $2,100 | $3,500 |
| Melvin 7 Bedroom Homes for Rent | $6,000 | $6,000 | $6,000 |
Browse Top Homes for Rent in Melvin
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Melvin, IL Local Guide
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Cheapest Available Melvin Apartments for Rent and Nearby
The cheapest available apartment rental in Melvin, IL is a 1 Bed unit found at Parker Glen priced from $499. Falcon Way Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $758. Here is today’s list of the most affordable Melvin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Parker Glen | 1Bdrm | 1BR,1BA | $499 |
| Falcon Way Townhomes | One Bedroom | 1BR,1BA | $758 |
| Phoenix Apartments of Pontiac | One Bedroom Deluxe | 1BR,1BA | $795 |
Best Value Apartments for Rent in Melvin, IL and Nearby
As of June 04, 2026 the best value apartment in the Melvin area is the $1.32 price per square foot Cates 3x2.5 Model at Timber Wolf and Cates Crossing in the starting from $2,160. The second greatest value Melvin apartment is the Pacific-Level 2 Model at Watersedge starting at $1,750 with a $1.30 price per square foot . Here is today’s list of the best values for Melvin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Timber Wolf and Cates Crossing | Cates 3x2.5 | 3BR,2.5BA | $1.32 |
| Watersedge | Pacific-Level 2 | 3BR,2BA | $1.30 |
| Tuscany Ridge Townhomes | 3 Bedroom Townhome (Standard Unit) | 3BR,2.5BA | $1.08 |
| Parker Glen | 2 Bdrm | 2BR,1BA | $1.29 |
| The Linc Apartments | 2x2 | 2BR,2BA | $0.88 |
| Town Center Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.14 |
| Phoenix Apartments of Pontiac | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.05 |
| University Park | Two Bedroom | 2BR,1BA | $1.17 |
| Capstone Quarters | Two Bedroom Select | 2BR,2BA | $0.80 |
| 808 N Lincoln Ave. Urbana, IL | 2 Bed / 1 Bath | 2BR,1BA | $1.28 |
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
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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Explore Melvin, IL Rentals by Map
See the most popular apartments and homes in Melvin, IL
Frequently Asked Questions about Melvin
What type of rentals are currently available in Melvin?
There are currently 43 Apartments for Rent in Melvin, IL with pricing that ranges from $499 to $2,345. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melvin ranging from $425 to $6,000.
What is the current price range for Rental Homes in Melvin?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Melvin ranges from $425 to $6,000 with an average monthly rent of $2,646.
How much are larger Three and Four Bedroom Rentals in Melvin?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Melvin range from $785 to $2,035, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,350 to $2,550. Four Bedroom Single-Family rentals are also available starting from $1,950 and Four Bedroom Apartments start at $635.
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
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
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.
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.