10455 Old Hwy 62 E
Mount VernonIN47620
Cheap Homes for Rent in Olney, IL from $500 (12 Rentals)
Search the lowest-cost Homes available for rent right now in Olney.
1207 Tree Top Ln
EvansvilleIN47712
108 E Main St
PetersburgIN47567
1520 Main St
VincennesIN47591
626 E Curry Dr
Terre HauteIN47802
510 Ellen Dr
CarmiIL62821
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
404 N Carroll St
Norris CityIL62869
10065 Main St
StoyIL62464
815 N Main St
FloraIL62839
574 N Virgil St
JasonvilleIN47438
102 N Seminary St
PrincetonIN47670
101 E Alabama St
OblongIL62449
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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Olney, IL Local Guide
Whittle Street in Olney by Nyttend is licensed under Internal
How much does it cost to rent a home in Olney?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Olney 2 Bedroom Homes for Rent | $968 | $675 | $1,395 |
| Olney 3 Bedroom Homes for Rent | $1,878 | $1,349 | $2,800 |
| Olney 4 Bedroom Homes for Rent | $1,933 | $900 | $2,800 |
| Olney 5 Bedroom Homes for Rent | $2,200 | $1,200 | $3,200 |
Browse Top Homes for Rent in Olney
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Olney, IL Local Guide
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Cheapest Available Olney Apartments for Rent and Nearby
The cheapest available apartment rental in Olney, IL is a 1 Bed unit found at Arthur Ave Apartments priced from $610. Southern Meadows Senior Living has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Olney apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Arthur Ave Apartments | 1x1 | 1BR,1BA | $610 |
| Southern Meadows Senior Living | 1 Bed Apt | 1BR,1BA | $650 |
| Valoré at Hidden Hills | The Dogwood - One Bedroom Apartment Home | 1BR,1BA | $675 |
| Cine Senior Apartments | Two Bedroom | 2BR,1BA | $690 |
| 616 S 6th St | 0/1 | Studio,1BA | $699 |
Best Value Apartments for Rent in Olney, IL and Nearby
As of May 29, 2026 the best value apartment in the Olney area is the $1.04 price per square foot 3BR Villa Model at Circle Point Villas in the starting from $1,595. The second greatest value Olney apartment is the 3 Bed 2.5 Bath Model at Panther Heights starting at $1,380 with a $0.99 price per square foot . Here is today’s list of the best values for Olney apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Circle Point Villas | 3BR Villa | 3BR,2BA | $1.04 |
| Panther Heights | 3 Bed 2.5 Bath | 3BR,2.5BA | $0.99 |
| Eagle Village - Historical Access | 4BR/2BA - Furnished | 4BR,2BA | $0.47 |
| Baldwin Heights | 2 Bedroom | 2BR,1BA | $1.18 |
| Vail Estates Apartments | Two Bedroom One Bathroom | 2BR,1BA | $1.10 |
| North Park | Berkshire | 2BR,1.5BA | $1.12 |
| Royal Heights | Royal Heights 2 Bed w/ Study & 1.5 Bath | 3BR,1.5BA | $0.38 |
| Mission Viejo Villas | B- Barcelona | 1BR,1BA | $1.16 |
| Arthur Ave Apartments | 1x1 | 1BR,1BA | $0.97 |
| Southern Meadows Senior Living | 1 Bed Apt | 1BR,1BA | $1.19 |
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.
Read Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
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!
Explore Olney, IL Rentals by Map
See the most popular apartments and homes in Olney, IL
Frequently Asked Questions about Olney
What type of rentals are currently available in Olney?
There are currently 55 Apartments for Rent in Olney, IL with pricing that ranges from $413 to $3,000. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Olney ranging from $550 to $3,200.
What is the current price range for Rental Homes in Olney?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Olney ranges from $550 to $3,200 with an average monthly rent of $1,472.
How much are larger Three and Four Bedroom Rentals in Olney?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Olney range from $762 to $1,674, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,349 to $2,800. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $580.
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
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.