Cheap Apartments for Rent in Oakwood, IL from $500 (56 Rentals)

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705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

705 W Elm StUrbana, IL 61801
Corporate Housing
  • Utilities Included
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
Showing Results 1-50, Page 1 of 2

Oakwood, IL Local Guide

Cheapest Available Oakwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Oakwood, IL is a Studio unit found at Brookhaven priced from $525. Brunswick Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here is today’s list of the most affordable Oakwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
Brunswick ApartmentsStudioStudio,1BA$625
Town & Country ApartmentsCamden1BR,1BA$726
The Grove1BR1BR,1BA$783
Aspen CourtThe Beech1BR,1BA$825
Townway Place1 Beds, 1 Baths1BR,1BA$850
University ParkOne Bedroom1BR,1BA$850
Devonshire Village1 Bed 1 Bath1BR,1BA$900
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$925
Golfview VillageThe Palmer4BR,2BA$1,040

Best Value Apartments for Rent in Oakwood, IL and Nearby

As of November 15, 2025 the best value apartment in the Oakwood area is the $0.63 price per square foot The Palmer Model at Golfview Village in the starting from $1,040. The second greatest value Oakwood apartment is the 2 Bedroom/2.5 bath Model at 200 Vine St starting at $1,675 with a $1.07 price per square foot . Here is today’s list of the best values for Oakwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Golfview VillageThe Palmer4BR,2.5BA$0.63
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
Eastland Apartments2 Bedroom2BR,2BA$1.19
Campus OaksFloorplan A - Price per person4BR,2BA$0.65
University ParkTwo Bedroom2BR,1BA$1.17
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
The Grove2BR2BR,1BA$1.30
Town & Country ApartmentsDanbury1BR,1BA$1.39
The AtriumSingle (shared common area)1BR,1BA$1.33

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Location, Location, Location!

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Getting Around Oakwood, IL

Walk Score®

18 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

32 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Oakwood Apartments

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

The lowest price for a Cheap One Bedroom Oakwood Apartment is $650 at Brookhaven.

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

Today's best deal for a Cheap Two Bedroom Apartment in Oakwood is starting from $725 at Brookhaven.

What is the most affordable Oakwood Three Bedroom Apartment?

The best deal on a cheap Oakwood Three Bedroom Apartment rental is at Brookhaven and starts from $975.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.