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

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

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

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.