Cheap Apartments for Rent in Montrose, IL from $300 (23 Rentals)

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

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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Timber Cove
$680 - $1,021
Total Monthly Price

Total Monthly Price

Base Rent
$515 - $856
Required Monthly Fees
$165

Total Monthly Price
$680 - $1,021
Studio to 2 Bedroom Apartments Available Now

Timber Cove

1707 S Country Club RdDecatur, IL 62521
Family Friendly
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616 S 6th St
$699 - $749
Total Monthly Price

Total Monthly Price

Base Rent
$649 - $699
Required Monthly Fees
$50

Total Monthly Price
$699 - $749
Studio to 2 Bedroom Apartments Available Now

616 S 6th St

616 S 6th StMattoon, IL 61938
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Highland
1 to 3 Bedroom Apartments

Highland

1526 Edgar DrCharleston, IL 61920

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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Historic Walnut Square
1 to 3 Bedroom Apartments

Historic Walnut Square

200 S 6th StTerre Haute, IN 47807
  • Utilities Included
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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

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

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included

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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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938

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 RESERVE AT LAKEVIEW priced from $421. OldeTowne Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $629. Here is today’s list of the most affordable Montrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$421
OldeTowne Apartments1 Bed/1 Bath1BR,1BA$629
616 S 6th St0/1Studio,1BA$699
1905 12th St1BDR1BR,1BA$700
Willow CrossingsPhase I - StudioStudio,1BA$720

Best Value Apartments for Rent in Montrose, IL and Nearby

As of February 19, 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 3 Bedroom Model at Springhill Apartments starting at $925 with a $0.84 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
Springhill Apartments3 Bedroom3BR,1.5BA$0.84
RiverfrontLayout 20 (East/Track View)2BR,2BA$1.33
Arbors at Honey Creek2x22BR,2BA$0.94
The Courtyard3 Bed 1 Bath3BR,1BA$1.27
Timber CoveThe Whitehall2BR,1BA$0.99
ANTHONY SQUARE SENIOR LIVING2 Bed 1 Bath2BR,1BA$0.94
2219 9th St2 Bed / 2 Bath2BR,2BA$1.35
Decatur Flats Apartments1 bed 1 bath Renovated1BR,1BA$1.07
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$0.69

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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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.

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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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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!

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Frequently Asked Questions about Cheap Montrose Apartments

What is the Cheapest Studio apartment in Montrose?

Currently the most affordable Cheap Studio Apartment in Montrose is at 616 S 6th St listed at $699.

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

The lowest price for a Cheap One Bedroom Montrose Apartment is $421 at RESERVE AT LAKEVIEW.

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 OldeTowne Apartments and starts from $799.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.