
Cheap Homes for Rent in Payson, IL from $300 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Payson.


208 E Bland St

636 Payson Ave

518 W Murray St
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.

119 N 1st St

308 W Adams Rd

121 S Jefferson St

437 W Pierce St
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.
Payson, IL Local Guide

How much does it cost to rent a home in Payson?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Payson 2 Bedroom Homes for Rent | $917 | $399 | $1,300 |
| Payson 3 Bedroom Homes for Rent | $1,354 | $825 | $1,950 |
| Payson 4 Bedroom Homes for Rent | $1,626 | $1,080 | $2,600 |
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Payson, IL Local Guide
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Cheapest Available Payson Apartments for Rent and Nearby
 The cheapest available apartment rental in Payson, IL is a Studio unit found at Macomb Rentals priced from $390. 1500 N Carolina St has the second lowest priced unit, which is a 3 Beds apartment currently listed from $900. Here is today’s list of the most affordable Payson apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Macomb Rentals | Studio, 1 bath | Studio,1BA | $390 |
| 1500 N Carolina St | 3x2 | 3BR,2BA | $900 |
| Jefferson House Senior Living | 1 Bed/1 Bath | 1BR,1BA | $1,094 |
Best Value Apartments for Rent in Payson, IL and Nearby
As of October 25, 2025 the best value apartment in the Payson area is the $0.79 price per square foot 125 Water St Model at 125 Water St, Unit River View in the starting from $1,100. The second greatest value Payson apartment is the Three Beds Two Baths Model at Emerson Garden Apartments starting at $1,400 with a $1.08 price per square foot . Here is today’s list of the best values for Payson apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 125 Water St, Unit River View | 125 Water St | 2BR,2BA | $0.79 |
| Emerson Garden Apartments | Three Beds Two Baths | 3BR,2BA | $1.08 |
| 417 High St, Unit 1 | 417 High St | 2BR,2BA | $0.75 |
| 2507 Rebecca Ct W, Unit 1 | 2507 Rebecca Ct W | 2BR,1.5BA | $1.00 |
| 2526 Rebecca Ct W, Unit 7 | 2526 Rebecca Ct W | 2BR,1BA | $1.00 |
| 2305 Maine St, Unit 3w | 2305 Maine St | 1BR,1BA | $0.72 |
| 837 Washington St, Unit Upper | 837 Washington St | 1BR,1BA | $0.83 |
| 1500 N Carolina St | 2X2 | 2BR,2BA | $1.08 |
| 10 Suncrest Ter, Unit 3 | 10 Suncrest Ter | 3BR,1BA | $1.03 |
| 329 S Lafayette St, Unit 3 | 329 S Lafayette St | 2BR,1BA | $1.00 |
Apartment Common Area Rules: What Renters Need to Know
From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.
Read ArticleDon'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 ArticleThe 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.
Read ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Payson
What type of rentals are currently available in Payson?
There are currently 28 Apartments for Rent in Payson, IL with pricing that ranges from $300 to $1,850. There are also 22 Single Family Homes for rent, Condos, and Townhome rentals currently available in Payson ranging from $399 to $2,600.
What is the current price range for Rental Homes in Payson?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Payson ranges from $399 to $2,600 with an average monthly rent of $1,194.
How much are larger Three and Four Bedroom Rentals in Payson?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Payson range from $340 to $1,850, while Three Bedroom Homes, Condos, and Townhomes for rent range from $825 to $1,950. Four Bedroom Single-Family rentals are also available starting from $1,080 and Four Bedroom Apartments start at $600.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.