40 Mahoning Ave
RantoulIL61866
Cheap Apartments for Rent in Penfield, IL from $500 (26 Rentals)
Search the lowest-cost Apartments available for rent right now in Penfield.
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$518 - $1,3781 to 3 Bedroom Apartments Available Now
Aspen Court
1557 S Hunter StUrbana, IL 61802
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$652 - $1,0891 to 3 Bedroom Apartments Available Now
Falcon Way Townhomes
909 N Maplewood DrRantoul, IL 61866
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$750 - $1,1502 to 4 Bedroom Apartments Available Now
Golfview Village
620 Willow Pond RdRantoul, IL 61866
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$783 - $1,659
Total Monthly Price
1 to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$716 - $1,592
Required Monthly Fees
$67
Total Monthly Price
$783 - $1,659
Town & Country Apartments
1032 Kerr Ave EUrbana, IL 61802
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$795 - $8951 to 2 Bedroom Apartments Available Now
Townway Place
2730 Townway RdDanville, IL 61832
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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$800 - $1,0501 to 3 Bedroom Apartments Available Now
Urbana Estates
1004 S Smith RdUrbana, IL 61802
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$809 - $9251 to 2 Bedroom Apartments Available Now
Brunswick Apartments
3205 Brunswick StDanville, IL 61832
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$850 - $995
Total Monthly Price
1 to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$805 - $950
Required Monthly Fees
$45
Total Monthly Price
$850 - $995
University Park
908 N Broadway AveUrbana, IL 61801
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$850 - $1,1751 to 3 Bedroom Apartments Available Mar 1
Prairie Green Apartment Homes
2502 Prairie Green DrUrbana, IL 61802
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$850 - $1,1001 to 2 Bedroom Apartments Available May 15
Carisbrooke Apartments
2407 Hampshire DrChampaign, IL 61820
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$875 - $1,300Studio to 3 Bedroom Apartments Available Now
Element on Main
502 W Main StUrbana, IL 61801
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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$895 - $9951 to 2 Bedroom Apartments Available Now
808 N Lincoln Ave
808 N Lincoln AveUrbana, IL 61801
516 S 5th Ave
HoopestonIL60942
516 5th St
HoopestonIL60942
409 E Campbell Ave
RantoulIL61866
635 E Grove Ave
RantoulIL61866
1903 N Lincoln Ave
UrbanaIL61801
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.
412 E Letchworth Ave
RantoulIL61866
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1 Bedroom Apartments
302 W Locust St
302 W Locust StUrbana, IL 61801
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1 Bedroom Apartments
West Liberty Point
1320 Mccullough StRantoul, IL 61866
212 W Letchworth St
RantoulIL61866
1320 Yakel St
RantoulIL61866
103 W Clark St
ThomasboroIL61878
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.
904 N Broadway Ave
UrbanaIL61801
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2 Bedroom Apartments
Willow Springs
1606 Willow View RdUrbana, IL 61802
Showing Results 1-26, Page 1 of 1
Penfield, IL Local Guide
Maple's during fall by Amanda Landers is licensed under CC BY 2.0
How much does it cost to rent an apartment in Penfield?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penfield Studio Apartments | $1,223 | $875 | $1,449 |
| Penfield 1 Bedroom Apartments | $1,145 | $652 | $1,749 |
| Penfield 2 Bedroom Apartments | $1,200 | $518 | $1,845 |
| Penfield 3 Bedroom Apartments | $1,133 | $815 | $1,430 |
| Penfield 4 Bedroom Apartments | $977 | $785 | $1,310 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Penfield
See all Apartments in PenfieldExplore Penfield
Penfield, IL Local Guide
- Nearby Cities
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Cheapest Available Penfield Apartments for Rent and Nearby
The cheapest available apartment rental in Penfield, IL is a 1 Bed unit found at Townway Place priced from $795. Urbana Estates has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Penfield apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Townway Place | 1 Beds, 1 Baths | 1BR,1BA | $795 |
| Urbana Estates | 1x1Urbana Estates | 1BR,1BA | $800 |
| Brunswick Apartments | Brunswick Apartments 1 Bed 1 Bath Waiting List | 1BR,1BA | $809 |
| Falcon Way Townhomes | Three Bedroom Townhome | 3BR,1BA | $815 |
| Aspen Court | The Beech | 1BR,1BA | $825 |
| ONYX | The Cottage | 2BR,1BA | $850 |
| University Park | One Bedroom | 1BR,1BA | $850 |
| 211 N Central Ave | 1 Bed / 1 Bath | 1BR,1BA | $920 |
| Devonshire Village | 1 Bed 1 Bath | 1BR,1BA | $949 |
| South Pointe Commons | South Pointe 3bd/1.5ba Townhouse | 3BR,1BA | $972 |
Best Value Apartments for Rent in Penfield, IL and Nearby
As of February 28, 2026 the best value apartment in the Penfield area is the $0.70 price per square foot The Palmer Model at Golfview Village in the starting from $1,150. The second greatest value Penfield apartment is the 2 Bedroom/2.5 bath Model at 200 Vine St starting at $1,675 with a $1.07 price per square foot . Here is today’s list of the best values for Penfield apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Golfview Village | The Palmer | 4BR,2.5BA | $0.70 |
| 200 Vine St | 2 Bedroom/2.5 bath | 2BR,2BA | $1.07 |
| Devonshire Village | 2 Bed 2 Bath Private Entry | 2BR,2BA | $1.21 |
| South Pointe Commons | South Pointe 3bd/1.5ba Townhouse | 3BR,1.5BA | $0.93 |
| Campus Oaks | Floorplan A - Price per person | 4BR,2BA | $0.75 |
| Town Center Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.14 |
| University Park | Two Bedroom | 2BR,1BA | $1.17 |
| Capstone Quarters | Two Bedroom Select | 2BR,2BA | $0.80 |
| Falcon Way Townhomes | Two Bedroom Townhome | 2BR,1BA | $1.05 |
| Urbana Estates | 1x1Urbana Estates | 1BR,1BA | $1.22 |
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.
Read ArticleCash 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.
Read ArticleQuick 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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See the most popular apartments and homes in Penfield, IL
Frequently Asked Questions about Cheap Penfield Apartments
How much is rent for a Cheap One Bedroom Penfield Apartment?
The lowest price for a Cheap One Bedroom Penfield Apartment is $795 at Townway Place.
What is the lowest price for a Cheap Two Bedroom Penfield Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Penfield is starting from $838 at Falcon Way Townhomes.
What is the most affordable Penfield Three Bedroom Apartment?
The best deal on a cheap Penfield Three Bedroom Apartment rental is at Falcon Way Townhomes and starts from $815.
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
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.
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.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.