Cheap Apartments for Rent near Palmyra, IL from $347 (48 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 205 N North St
$700 - $800
1 To 3 Bedroom Rentals
Available Now

205 N North St

RaymondIL62560
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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Included

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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Pine Woods Apartments
1 to 3 Bedroom Apartments

Pine Woods Apartments

1665 Seven Pines RdSpringfield, IL 62704
  • Utilities Included
property at 229 W Allen St
$950 - $1,250
1 To 3 Bedroom Rentals
Available Now
Affordability

229 W Allen St

SpringfieldIL62704
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721 South Grand Ave W
1 to 2 Bedroom Apartments

721 South Grand Ave W

721 South Grand Ave WSpringfield, IL 62704
  • Utilities Included

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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Showing Results 1-48, 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 in the Macoupin County neighborhood 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
Cobblestone ApartmentsCobblestone 1BD1BR, 1BA$750
The Raymond ApartmentsTwo bedroom2BR, 1BA$800
Laborer's Home Development IV, For Age 62+1 BR1BR, 1BA$830
New Eastlawn ApartmentsTwo Bedroom2BR, 1BA$850
The Meadows at Durkin1 Bed 1 Bath1BR, 1BA$875
Ravenwood TownhomesTownhome2BR, 1BA$895
Safe Harbor Properties1 Bdr/ 1 Bath Private Balcony Capitol Views1BR, 1BA$895

Best Value Apartments for Rent in Palmyra, IL and Nearby

As of September 20, 2026 the best value apartment in the Palmyra area is the $0.90 price per square foot Townhome Model at Ravenwood Townhomes starting from $895. The second greatest value Palmyra apartment is the B1 Model at Candles starting at $986 with a $1.03 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.
Ravenwood TownhomesTownhome2BR, 1.5BA$0.90
CandlesB12BR, 1.5BA$1.03
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
New Eastlawn ApartmentsTwo Bedroom2BR, 1BA$1.03
Cobblestone ApartmentsCobblestone 2BD2BR, 1BA$1.06
The Raymond ApartmentsTwo bedroom2BR, 1BA$1.00
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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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!

Explore Palmyra, IL Rentals by Map

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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.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.