Cheap Apartments for Rent in Peotone, IL from $500 (53 Rentals)

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

property at 29837 IL-50

$900 - $1,400

Studio To 2 Bedroom Rentals

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29837 IL-50

PeotoneIL60468
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517 Hauert Street
2 Bedroom Apartments

517 Hauert Street

517 Hauert StPeotone, IL 60468
  • 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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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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1304 E North St
1 to 2 Bedroom Apartments

1304 E North St

1304 E North StBradley, IL 60915
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Autumn Ridge
Studio to 3 Bedroom Apartments

Autumn Ridge

119 E Sycamore DrPark Forest, IL 60466
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West Harbor Place
2 to 3 Bedroom Apartments

West Harbor Place

703 W Harbor StKankakee, IL 60901
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Central Park
1 to 3 Bedroom Apartments

Central Park

11 Fir StPark Forest, IL 60466
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Apartments of Orland
1 to 2 Bedroom Apartments

Apartments of Orland

16005 Applewood LnOrland Hills, IL 60487
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7081 Apartments
1 to 2 Bedroom Apartments

7081 Apartments

7081 170th StTinley Park, IL 60477

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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1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

1014 Shagbark RdNew Lenox, IL 60451
  • Utilities Included

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.

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Peotone, IL Local Guide

Cheapest Available Peotone Apartments for Rent and Nearby

 

The cheapest available apartment rental in Peotone, IL is a Studio unit found at Crest Apartments in the University Park neighborhood priced from $800. Thornwood Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,175. Here is today’s list of the most affordable Peotone apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Thornwood Apartments2x1 8532BR,1BA$1,175
Carriage Creek Apartments1 Bed 1 Bath Garden A1BR,1BA$1,185
Chelsea Garden1 Bed, 1 bath1BR,1BA$1,200
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Linden Park Apartments1 Bed 1 Bath Renovated A1BR,1BA$1,345
Oakwood Townhomes1 Bedroom 1 Bath Townhouse1BR,1BA$1,365
Westbridge Apartments1 Bed 1 Bath B Renovated1BR,1BA$1,395
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1,425
Olympic Village ApartmentsThe Maple2BR,1BA$1,440

Best Value Apartments for Rent in Peotone, IL and Nearby

As of May 08, 2026 the best value apartment in the Peotone area is the $1.60 price per square foot The Maple Model at Olympic Village Apartments in the in the Indian Hill neighborhood starting from $1,440. The second greatest value Peotone apartment is the 2 Bed 1 Bath Model at Cedar Ridge Apartments starting at $1,529 with a $1.72 price per square foot in the Lincoln Station neighborhood. Here is today’s list of the best values for Peotone apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Olympic Village ApartmentsThe Maple2BR,1BA$1.60
Cedar Ridge Apartments2 Bed 1 Bath2BR,1BA$1.72
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1.63
Thornwood Apartments2x1 8532BR,1BA$1.38
Maple Leaf ApartmentsGarden1BR,1BA$1.66
Barberry Apartments2 Bed2BR,1BA$1.88
Oakwood Townhomes1 Bedroom 1 Bath Townhouse1BR,1BA$1.93
Chelsea Garden1 Bed, 1 bath1BR,1BA$1.85
Carriage Creek Apartments1 Bed 1 Bath Garden A1BR,1BA$1.91
Crest ApartmentsStudioStudio ,1BA$1.78

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!

Explore Peotone, IL Rentals by Map

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Frequently Asked Questions about Cheap Peotone Apartments

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

The lowest price for a Cheap One Bedroom Peotone Apartment is $1,185 at Carriage Creek Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Peotone is starting from $1,175 at Thornwood Apartments.

What is the most affordable Peotone Three Bedroom Apartment?

The best deal on a cheap Peotone Three Bedroom Apartment rental is at Maple Leaf Apartments and starts from $1,800.

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.