Cheap Apartments for Rent in Palmyra, IL from $300 (38 Rentals)

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

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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property at 205 North St

$700 - $800

1 To 2 Bedroom Rentals

Available Now

205 North St

RaymondIL62560

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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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

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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Showing Results 1-38, Page 1 of 1

Palmyra, IL Local Guide

Cheapest Available Palmyra Apartments for Rent and Nearby

 

The cheapest available apartment rental in Palmyra, IL is a 1 Bed unit found at Jacksonville Affordable Housing priced from $485. Lotts Landing Senior Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $560. Here is today’s list of the most affordable Palmyra apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Jacksonville Affordable Housing1 Bedroom 50%1BR,1BA$485
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$560
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$600
Safe Harbor PropertiesStudioStudio,1BA$730
Cobblestone ApartmentsCobblestone 1BD1BR,1BA$750
Laborer's Home Development IV, For Age 62+1 BR1BR,1BA$830
New Eastlawn ApartmentsTwo Bedroom2BR,1BA$850
Lake Pointe ApartmentsOne Bedroom1BR,1BA$860
Pine Ridge ApartmentsOne Bedroom1BR,1BA$875
Koke Mill ApartmentsTwo Bedroom (lg)2BR,1BA$900

Best Value Apartments for Rent in Palmyra, IL and Nearby

As of May 07, 2026 the best value apartment in the Palmyra area is the $1.09 price per square foot 3 Bedroom Model at Ash Grove in the starting from $1,450. The second greatest value Palmyra apartment is the 2 Bedroom 1 Bath South Model at Orchard Park starting at $1,050 with a $1.06 price per square foot . Here is today’s list of the best values for Palmyra apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ash Grove3 Bedroom3BR,2BA$1.09
Orchard Park2 Bedroom 1 Bath South2BR,1BA$1.06
The Boulevard TownhomesTownhouse2BR,1.5BA$1.04
New Eastlawn ApartmentsTwo Bedroom2BR,1BA$1.03
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
CandlesA11BR,1BA$1.17
Pine Ridge ApartmentsOne Bedroom1BR,1BA$1.17
Safe Harbor Properties1st Floor Level1BR,1BA$1.21
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$0.87
Jacksonville Affordable Housing1 Bedroom 60%1BR,1BA$0.88

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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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!

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Frequently Asked Questions about Cheap Palmyra Apartments

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

The lowest price for a Cheap One Bedroom Palmyra Apartment is $485 at Jacksonville Affordable Housing.

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

Today's best deal for a Cheap Two Bedroom Apartment in Palmyra is starting from $540 at Jacksonville Affordable Housing.

What is the most affordable Palmyra Three Bedroom Apartment?

The best deal on a cheap Palmyra Three Bedroom Apartment rental is at Candles and starts from $1,117.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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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.