Cheap Apartments for Rent in Oakwood, IL from $500 (35 Rentals)

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

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Brookhaven
$525 - $1,275
Total Monthly Price

Total Monthly Price

Base Rent
$400 - $1,150
Required Monthly Fees
$125
Total Monthly Price
$525 - $1,275
Studio to 3 Bedroom Apartments Available Now

Brookhaven

18 Lynn DrWestville, IL 61883
  • Verified
  • Customer Reviewed
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Waterview Estates
$730 - $830
Total Monthly Price

Total Monthly Price

Base Rent
$640 - $740
Required Monthly Fees
$90
Total Monthly Price
$730 - $830
1 to 2 Bedroom Apartments Available Now

Waterview Estates

2320 N Vermilion StDanville, IL 61832
  • Verified
  • Customer Reviewed
  • Utilities Included

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

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University Park
$850 - $995
Total Monthly Price

Total Monthly Price

Base Rent
$805 - $950
Required Monthly Fees
$45
Total Monthly Price
$850 - $995
1 to 2 Bedroom Apartments Available Now

University Park

908 N Broadway AveUrbana, IL 61801
Pet Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included

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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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
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2204 Alpha Dr
1 Bedroom Apartments

2204 Alpha Dr

2204 Alpha DrDanville, IL 61832

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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106 N gregory
1 Bedroom Apartments

106 N gregory

106 N Gregory StUrbana, IL 61801

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.

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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included
Showing Results 1-35, Page 1 of 1

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. The Linc Apartments has the second lowest priced unit, which is a 4 Beds apartment currently listed from $675. Here is today’s list of the most affordable Oakwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
The Linc Apartments4x44BR,4BA$675
Waterview Estates1x1Waterview Estates1BR,1BA$730
The Verander1Br1BR,1BA$732
Golfview VillageThe Gilmore2BR,1BA$750
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$795
Urbana Estates1x1Urbana Estates1BR,1BA$800
Aspen CourtThe Beech1BR,1BA$825

Best Value Apartments for Rent in Oakwood, IL and Nearby

As of April 04, 2026 the best value apartment in the Oakwood area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Oakwood apartment is the 2 Bed 2 Bath Private Entry Model at Devonshire Village starting at $1,450 with a $1.21 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.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
Eastland Apartments2 Bedroom2BR,2BA$1.28
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Golfview VillageThe Gilmore2BR,1.5BA$0.75
University ParkTwo Bedroom2BR,1BA$1.17
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
The Grove2BR2BR,1BA$1.30
Waterview Estates1x1Waterview Estates1BR,1BA$1.09
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

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.

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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!

Explore Oakwood, IL Rentals by Map

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Frequently Asked Questions about Cheap Oakwood Apartments

What is the Cheapest Studio apartment in Oakwood?

Currently the most affordable Cheap Studio Apartment in Oakwood is at Brookhaven listed at $525.

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

The lowest price for a Cheap One Bedroom Oakwood Apartment is $717 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 $750 at Golfview Village.

What is the most affordable Oakwood Three Bedroom Apartment?

The best deal on a cheap Oakwood Three Bedroom Apartment rental is at Urbana Estates and starts from $1,000.

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 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.

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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.