Cheap Apartments for Rent in Omaha, IL from $500 (59 Rentals)

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

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.

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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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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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1900 N Willow Rd
1 to 3 Bedroom Apartments

1900 N Willow Rd

1900 N Willow RdEvansville, IN 47711
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Maple Valley Townhomes
2 Bedroom Apartments

Maple Valley Townhomes

618 E Waverly StMorganfield, KY 42437
  • Utilities Included
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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included

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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The Rathbone Apartments
1 to 2 Bedroom Apartments

The Rathbone Apartments

1320 SE 2nd StEvansville, IN 47713
Corporate Housing
  • Utilities Included
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Legacy Commons
Studio to 2 Bedroom Apartments

Legacy Commons

1101 S Lincoln Park DrEvansville, IN 47714
  • Utilities Included

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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Omaha, IL Local Guide

Cheapest Available Omaha Apartments for Rent and Nearby

 

The cheapest available apartment rental in Omaha, IL is a 1 Bed unit found at Graystone Henderson in the Henderson North End neighborhood priced from $625. Valoré at Hidden Hills in the Outer Central North neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Omaha apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Graystone Henderson1 Bedroom1BR,1BA$625
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
Embassy Apartments0.1Studio,1BA$685
Lakewood Flats and Townhomes1sm wd1BR,1BA$765
Foxfire West Apartments1.1 NS1BR,1BA$795
TERRA TRACEThe Dogwood1BR,1BA$799
Woodbridge PlaceThe Dogwood1BR,1BA$799
Apartments@411BR/1.0BA1BR,1BA$800
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Classic2BR,1BA$805
The Forge on MainStudio AStudio,1BA$813

Best Value Apartments for Rent in Omaha, IL and Nearby

As of April 24, 2026 the best value apartment in the Omaha area is the $1.00 price per square foot 1X1 Model at 2600 Fairway Dr in the starting from $1,800. The second greatest value Omaha apartment is the Kensington Model at North Park starting at $1,199 with a $1.00 price per square foot in the Mt Auburn neighborhood. Here is today’s list of the best values for Omaha apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2600 Fairway Dr1X13BR,2.5BA$1.00
North ParkKensington2BR,1.5BA$1.00
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
Ross Center Village2BR/1.0BA2BR,1BA$0.85
Addison PlaceSt Charles2BR,1BA$1.15
Mission Viejo VillasB- Barcelona1BR,1BA$1.16
Parkside Apartments2 Bedroom2BR,1BA$1.03
Copper Creek TownhomesA-1 Bedroom Ranch1BR,1BA$1.23
Woodbridge PlaceThe Dogwood1BR,1BA$1.14
Foxfire West Apartments1.1 NS1BR,1BA$1.23

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

Explore Omaha, IL Rentals by Map

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See the most popular apartments and homes in Omaha, IL

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Frequently Asked Questions about Cheap Omaha Apartments

What is the Cheapest Studio apartment in Omaha?

Currently the most affordable Cheap Studio Apartment in Omaha is at Embassy Apartments listed at $685.

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

The lowest price for a Cheap One Bedroom Omaha Apartment is $625 at Graystone Henderson.

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

Today's best deal for a Cheap Two Bedroom Apartment in Omaha is starting from $805 at Bradford Pointe Apartments.

What is the most affordable Omaha Three Bedroom Apartment?

The best deal on a cheap Omaha Three Bedroom Apartment rental is at Canoe Creek Apartments and starts from $1,219.

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 Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

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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.

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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.