Cheap Apartments for Rent near Palmer, IL from $400 (52 Rentals)

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

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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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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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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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Included
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Pine Woods Apartments
1 to 3 Bedroom Apartments

Pine Woods Apartments

1665 Seven Pines RdSpringfield, IL 62704
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Palmer, IL Local Guide

Cheapest Available Palmer Apartments for Rent and Nearby

 

The cheapest available apartment rental in Palmer, IL is a 1 Bed unit found at RESERVE AT LAKEVIEW priced from $421. Country Place-Moweaqua I & ll has the second lowest priced unit, which is a 1 Bed apartment currently listed from $497. Here is today’s list of the most affordable Palmer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$421
Country Place-Moweaqua I & ll1 Bedroom1BR,1BA$497
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$560
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$600
The Hickox CollectionThe HickoxStudio,1BA$657
Cobblestone ApartmentsCobblestone 1BD1BR,1BA$750
Decatur Flats Apartments2BR/1.0BA2BR,1BA$799
The Raymond ApartmentsTwo bedroom2BR,1BA$800
Pine Ridge ApartmentsOne Bedroom1BR,1BA$875
Ravenwood TownhomesTownhome2BR,1BA$895

Best Value Apartments for Rent in Palmer, IL and Nearby

As of July 12, 2026 the best value apartment in the Palmer area is the $0.90 price per square foot Townhome Model at Ravenwood Townhomes in the starting from $895. The second greatest value Palmer apartment is the Townhouse Model at The Boulevard Townhomes starting at $975 with a $1.04 price per square foot . Here is today’s list of the best values for Palmer apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ravenwood TownhomesTownhome2BR,1.5BA$0.90
The Boulevard TownhomesTownhouse2BR,1.5BA$1.04
Safe Harbor Properties2 Bdr 1 Bath with Balcony. Capitol View.2BR,1BA$1.08
3TEN Apartments2 Bed 1 Bath2BR,1BA$1.05
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
2474 N Florian102BR,1.5BA$1.13
The Raymond ApartmentsTwo bedroom2BR,1BA$1.00
Country Place-Moweaqua I & ll1 Bedroom1BR,1BA$0.76
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$0.87
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$0.69

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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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.

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

Explore Palmer, IL Rentals by Map

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See the most popular apartments and homes in Palmer, IL

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Frequently Asked Questions about Cheap Palmer Apartments

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

The lowest price for a Cheap One Bedroom Palmer Apartment is $421 at RESERVE AT LAKEVIEW.

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

Today's best deal for a Cheap Two Bedroom Apartment in Palmer is starting from $507 at RESERVE AT LAKEVIEW.

What is the most affordable Palmer Three Bedroom Apartment?

The best deal on a cheap Palmer Three Bedroom Apartment rental is at Decatur Flats Apartments and starts from $1,100.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.