Cheap Apartments for Rent in Montgomery, IL from $700 (58 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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 Montgomery.

close
View Me
Building H & I
1 to 2 Bedroom Apartments

Building H & I

89 Hillstone RdMontgomery, IL 60538
  • Utilities Included
close
View Me
Building A
1 Bedroom Apartments

Building A

100 Rocky WayMontgomery, IL 60538
  • Utilities Included
close
View Me
55 E Mill St
1 Bedroom Apartments

55 E Mill St

55 E Mill StMontgomery, IL 60538
  • Utilities Included

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
property at 2100 Light Rd

$1,395

Total Monthly Price

Total Monthly Price

Base Rent
$1,395
Total Monthly Price
$1,395

1 Bedroom, 1 Bath Condo for Rent

Available Now

2100 Light Rd, Unit 210

2100 Light Rd
OswegoIL60543

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
Downer Place Lofts
$1,695 - $1,850
Total Monthly Price

Total Monthly Price

Base Rent
$1,695 - $1,850
Total Monthly Price
$1,695 - $1,850
1 Bedroom Apartments Available Now

Downer Place Lofts

220 E Downer PlAurora, IL 60505
Eco-Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included
close
View Me
Deville Manor
1 to 2 Bedroom Apartments

Deville Manor

110 5th StOswego, IL 60543
Senior Living
close
View Me
Silver Oaks At Waterford
1 Bedroom Apartments

Silver Oaks At Waterford

1819 Silver Oaks CirAurora, IL 60504
Senior Living
  • 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.

Read Article
close
View Me
Autumnwood Apartments
1 to 3 Bedroom Apartments

Autumnwood Apartments

734 N Gladstone AveAurora, IL 60506
  • Utilities Included
close
View Me
Village West Apartments
1 to 2 Bedroom Apartments

Village West Apartments

1971 Lilac LnAurora, IL 60506
Corporate Housing
  • Utilities Included
close
View Me
Forest Ridge
1 to 3 Bedroom Apartments

Forest Ridge

1213-1215 2nd AveAurora, IL 60505
  • Utilities Included
close
View Me
Monroe Street Apartments
Studio to 2 Bedroom Apartments

Monroe Street Apartments

89 Polk StOswego, IL 60543
  • Utilities Included
  • Smoke Free
close
View Me
Keystone Lofts
1 Bedroom Apartments

Keystone Lofts

30 S Stolp AveAurora, IL 60506

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

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.

Read Article
Showing Results 1-50, Page 1 of 2

Montgomery, IL Local Guide

Cheapest Neighborhoods for Apartments in Montgomery, IL

Pricing Updated: 08/01/2026

Current apartment rentals in the Montgomery, IL area range in price from $600 to $4,177 with an overall median price of $2,996. Here is today’s list neighborhoods with the lowest median pricing for Montgomery Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Blackberry Crossing West$2,982$1,200116
Orchard Prairie North$2,982$1,070117
Aurora$3,100$60031

Cheapest Available Montgomery Apartments for Rent

 

The cheapest available apartment rental in Montgomery, IL is a 1 Bed unit found at Wedgewood Manor Active Senior Living in the Ashcroft Place neighborhood priced from $1,070. Deville Manor in the Prescott Mill Crossings neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,250. Here is today’s list of the most affordable Montgomery apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wedgewood Manor Active Senior LivingB1BR,1BA$1,070
Deville Manor1 Bedroom1BR,1BA$1,250
The Reserve at Hudson CrossingHarrisonStudio,1BA$1,450
The Mayan ApartmentsLuna1BR,1BA$1,545
The LUXE Residences of Aurora 55+ CommunityOne Bedroom Small (LRA-1S)1BR,1BA$1,550
Fox Pointe2B2B2BR,2BA$1,589
Springs At OswegoStudio Grand OverlookStudio,1BA$1,615
Willow + Wren ApartmentsSanctuary2BR,1BA$1,683
Downer Place Lofts1 Bed/1 Bath1BR,1BA$1,695
ReNew AuroraBennett2BR,2BA$1,750

Best Value Apartments for Rent in Montgomery, IL

As of August 01, 2026 the best value apartment in the Montgomery area is the $1.94 price per square foot DTH La Belle Model at Heyday Aurora in the in the West Side Aurora neighborhood starting from $3,050. The second greatest value Montgomery apartment is the Accera Model at Bristol Bay of Yorkville starting at $2,595 with a $1.74 price per square foot in the Blackberry Crossing West neighborhood. Here is today’s list of the best values for Montgomery apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Heyday AuroraDTH La Belle3BR,2.5BA$1.94
Bristol Bay of YorkvilleAccera2BR,2.5BA$1.74
430 Grand Ave, Unit 1430 Grand Ave3BR,1BA$1.42
The Reserve at SummerfieldEiffel - Classic2BR,2BA$1.67
Redwood OswegoForestwood2BR,2BA$1.93
Fox Pointe2B2B2BR,2BA$1.72
Downer Place Lofts1 Bed/1 Bath1BR,1BA$1.96
Willow + Wren ApartmentsSanctuary2BR,1BA$1.96
Deville Manor1 Bedroom1BR,1BA$1.82
Wedgewood Manor Active Senior LivingB1BR,1BA$1.78

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

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 Montgomery, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Montgomery, IL

View Map
Montgomery, IL Apartments Map
View Map
Montgomery, IL Rental Homes Map

Frequently Asked Questions about Cheap Montgomery Apartments

What is a cheap apartment in Montgomery?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Montgomery is under $1,750.

What is the price of a cheap apartment in Montgomery?

The cheapest apartment in Montgomery is Wedgewood Manor Active Senior Living which is listed at $1,070, while the average apartment in Montgomery costs $2,996.

What types of apartments are the cheapest in Montgomery?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 4 regular apartments in Montgomery that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Montgomery?

Cheap apartments in Montgomery have an average cost of $113 which is $2,883 cheaper than the average rent for all rentals in Montgomery.

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 First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.