Cheap Apartments for Rent in Montgomery, IL from $700 (46 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
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 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

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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article
close
View Me
Silver Oaks At Waterford
1 Bedroom Apartments

Silver Oaks At Waterford

1819 Silver Oaks CirAurora, IL 60504
Senior Living
  • Utilities Included
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
TJC Apartments
Studio to 2 Bedroom Apartments

TJC Apartments

89 Polk StOswego, IL 60543
  • Utilities Included
  • Smoke Free

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.

Read Article

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.

Read Article
Showing Results 1-46, Page 1 of 1

Montgomery, IL Local Guide

Cheapest Neighborhoods for Apartments in Montgomery, IL

Pricing Updated: 05/02/2026

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

NeighborhoodMedian PriceMin PriceAvailable Units
Orchard Prairie North$2,447$1,07066
Blackberry Crossing West$2,499$1,32565
Aurora$3,050$90025

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. Leland Tower Apartments in the West Side Aurora neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. 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
Leland Tower ApartmentsBenton1BR,1BA$1,200
Lakeview ResidencesLakeview Residences Studio ApartmentStudio,1BA$1,325
Keystone LoftsPlan 11BR,1BA$1,395
ReNew AuroraAshford1BR,1BA$1,440
The Reserve at Hudson CrossingHarrisonStudio,1BA$1,450
Springs At OswegoStudio Grand OverlookStudio,1BA$1,540
The LUXE Residences of Aurora 55+ CommunityOne Bedroom Small (LRA-1S)1BR,1BA$1,550
Fox Pointe2B2B2BR,2BA$1,566
Downer Place Lofts1 Bed/1 Bath1BR,1BA$1,750

Best Value Apartments for Rent in Montgomery, IL

As of May 02, 2026 the best value apartment in the Montgomery area is the $1.74 price per square foot Accera Model at Bristol Bay of Yorkville in the in the Blackberry Crossing West neighborhood starting from $2,595. The second greatest value Montgomery apartment is the 2BR Vista Model at Avanterra Wolfs Crossing starting at $2,781 with a $2.04 price per square foot in the Prescott Mill Crossings 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.
Bristol Bay of YorkvilleAccera2BR,2.5BA$1.74
Avanterra Wolfs Crossing2BR Vista2BR,2.5BA$2.04
The Reserve at SummerfieldDaVinci2BR,2BA$1.87
Fox Pointe3B-S603BR,2BA$1.70
Keystone LoftsPlan 11BR,1BA$1.41
Monroe Street Apartments2BD/1BA - 955 Sq Ft2BR,1BA$2.07
Downer Place Lofts1 Bed/1 Bath1BR,1BA$2.02
Farmington Lakes ApartmentsHawthorn II1BR,1BA$2.33
The LUXE Residences of Aurora 55+ CommunityOne Bedroom Small (LRA-1S)1BR,1BA$2.31
Wedgewood Manor Active Senior LivingB1BR,1BA$1.78

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

Read Article
Decorative image

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

Read Article
Decorative image

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

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Decorative image

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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 $2,665.

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 7 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 $295 which is $2,370 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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.