Cheap Apartments for Rent in Montrose, IL from $300 (42 Rentals)

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

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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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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Historic Walnut Square
1 to 3 Bedroom Apartments

Historic Walnut Square

200 S 6th StTerre Haute, IN 47807
  • Utilities Included
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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included

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.

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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938

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.

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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.

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Montrose, IL Local Guide

Cheapest Available Montrose Apartments for Rent and Nearby

 

The cheapest available apartment rental in Montrose, IL is a 1 Bed unit found at Westport Apartments priced from $484. RESERVE AT LAKEVIEW has the second lowest priced unit, which is a 2 Beds apartment currently listed from $507. Here is today’s list of the most affordable Montrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Westport ApartmentsOne Bedroom1BR,1BA$484
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
Arbors at Honey Creek2x22BR,2BA$610
Arthur Ave Apartments1x11BR,1BA$610
The Annex of Terre HauteStudio CStudio,1BA$700
Southern Meadows Senior Living1 Bed Apt1BR,1BA$700
616 S 6th St1/11BR,1BA$729
THE GROVE AT FARRINGTON2 Bed 1 Bath2BR,1BA$750
Timber CoveThe Yawl1BR,1BA$780
Winston Terrace2BR/1BA2BR,1BA$795

Best Value Apartments for Rent in Montrose, IL and Nearby

As of May 20, 2026 the best value apartment in the Montrose 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 Montrose apartment is the 3BR/2.0BA Model at Decatur Flats Apartments starting at $1,299 with a $1.00 price per square foot . Here is today’s list of the best values for Montrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Panther Heights3 Bed 2.5 Bath3BR,2.5BA$0.99
Decatur Flats Apartments3BR/2.0BA3BR,2BA$1.00
Lake Land Living3 Bedroom 1 baths3BR,1BA$0.47
Arbors at Honey Creek2x22BR,2BA$0.57
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR,1.5BA$0.38
Winston Terrace2BR/1BA2BR,1BA$0.94
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
THE GROVE AT FARRINGTON2 Bed 1 Bath2BR,1BA$0.90
Timber CoveThe Yawl1BR,1BA$1.11
Westport ApartmentsOne Bedroom1BR,1BA$0.71

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

Explore Montrose, IL Rentals by Map

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See the most popular apartments and homes in Montrose, IL

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Frequently Asked Questions about Cheap Montrose Apartments

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

The lowest price for a Cheap One Bedroom Montrose Apartment is $484 at Westport Apartments.

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

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

What is the most affordable Montrose Three Bedroom Apartment?

The best deal on a cheap Montrose Three Bedroom Apartment rental is at Westport Apartments and starts from $665.

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.

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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.

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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.