Cheap Apartments for Rent in Olney, IL from $300 (22 Rentals)

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

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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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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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

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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Olney, IL Local Guide

Cheapest Available Olney Apartments for Rent and Nearby

 

The cheapest available apartment rental in Olney, IL is a 3 Beds unit found at The Millennium Apartments priced from $505. Melrose and Brooklyn Heights Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $585. Here is today’s list of the most affordable Olney apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Millennium Apartments3 Bedroom3BR,1BA$505
Melrose and Brooklyn Heights Apartments2 Bed 1 Bath2BR,1BA$585
OldeTowne Apartments1 Bed/1 Bath1BR,1BA$629
1905 12th St1BDR1BR,1BA$650
Lakewood Flats and Townhomes2 small wd2BR,1BA$670

Best Value Apartments for Rent in Olney, IL and Nearby

As of December 11, 2025 the best value apartment in the Olney area is the $1.05 price per square foot 3BR Villa Model at Circle Point Villas in the starting from $1,615. The second greatest value Olney apartment is the 3 Bedroom Model at The Millennium Apartments starting at $505 with a $0.41 price per square foot . Here is today’s list of the best values for Olney apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Circle Point Villas3BR Villa3BR,2BA$1.05
The Millennium Apartments3 Bedroom3BR,1BA$0.41
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
Vail Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
Chesterfield Village2 Bedroom 1 Bathroom2BR,1BA$1.19
The Brickyard ApartmentsKeystone1BR,1BA$1.16
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR,1.5BA$0.95
Mission Viejo VillasB- Barcelona1BR,1BA$1.16
North ParkMcCallister1BR,1BA$1.10
600 Marshall Ave1/11BR,1BA$1.17

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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Quick Rent Budget Calculator

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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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Best Local Schools in
Olney, IL

School data provided by Great Schools

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

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Getting Around Olney, IL

Walk Score®

44 / 100

Car-Dependent

Most errands require a car

Bike Score®

41 / 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 Olney Apartments

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

The lowest price for a Cheap One Bedroom Olney Apartment is $629 at OldeTowne Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Olney is starting from $585 at Melrose and Brooklyn Heights Apartments.

What is the most affordable Olney Three Bedroom Apartment?

The best deal on a cheap Olney Three Bedroom Apartment rental is at The Millennium Apartments and starts from $505.

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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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.

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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! 

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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.