Cheap Apartments for Rent in Peotone, IL from $500 (48 Rentals)

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

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517 Hauert Street
2 Bedroom Apartments

517 Hauert Street

517 Hauert StPeotone, IL 60468
  • Utilities Included
property at 29837 IL-50

$1,100 - $1,400

1 To 2 Bedroom Rentals

Available Now

29837 IL-50

PeotoneIL60468

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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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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1304 E North St
1 to 2 Bedroom Apartments

1304 E North St

1304 E North StBradley, IL 60915
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Central Park
1 to 3 Bedroom Apartments

Central Park

11 Fir StPark Forest, IL 60466

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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21746 Jeffrey
1 to 2 Bedroom Apartments

21746 Jeffrey

21746 S Jeffrey AveSauk Village, IL 60411
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Apartments of Orland
1 to 2 Bedroom Apartments

Apartments of Orland

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

7081 Apartments

7081 170th StTinley Park, IL 60477
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16601 Jean Ln
1 Bedroom Apartments

16601 Jean Ln

16601 Jean LnTinley Park, IL 60477
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15122 Quail Hollow Dr
1 to 3 Bedroom Apartments

15122 Quail Hollow Dr

15122 Quail Hollow DrOrland Park, IL 60462
Senior Living
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1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

1014 Shagbark RdNew Lenox, IL 60451
  • 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

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. Linden Park Apartments in the Downtown Park Forest neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,110. Here is today’s list of the most affordable Peotone apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Linden Park ApartmentsStudio BStudio,1BA$1,110
Carriage Creek ApartmentsStudio Mid-RiseStudio,1BA$1,135
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1,159
Chelsea Garden1 Bed, 1 bath1BR,1BA$1,200
Dynasty House Apartments1 Bedroom UNIV1BR,1BA$1,305
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Park Towers Apartments1 Bed 1 Bath A1BR,1BA$1,365
Oakwood Townhomes1 Bedroom 1 Bath Townhouse1BR,1BA$1,365
Olympic Village ApartmentsThe Maple2BR,1BA$1,440

Best Value Apartments for Rent in Peotone, IL and Nearby

As of August 08, 2026 the best value apartment in the Peotone area is the $1.86 price per square foot 3 Bedroom UNIV Model at Dynasty House Apartments in the in the University Park neighborhood starting from $1,905. The second greatest value Peotone apartment is the 2 Bed 2 Bath Renovated Model at Westbridge Apartments starting at $1,590 with a $1.63 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.
Dynasty House Apartments3 Bedroom UNIV3BR,2BA$1.86
Westbridge Apartments2 Bed 2 Bath Renovated2BR,2BA$1.63
Heritage Manor1BR/1BATH1BR,1BA$1.53
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1.25
Park Towers Apartments2 Bed 2 Bath A Remodel2BR,2BA$1.78
Olympic Village ApartmentsThe Maple2BR,1BA$1.60
Cedar Ridge Apartments2 Bed 1 Bath2BR,1BA$1.72
Maple Leaf ApartmentsGarden1BR,1BA$1.66
Chelsea Garden1 Bed, 1 bath1BR,1BA$1.85
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

What is the Cheapest Studio apartment in Peotone?

Currently the most affordable Cheap Studio Apartment in Peotone is at Crest Apartments listed at $800.

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

The lowest price for a Cheap One Bedroom Peotone Apartment is $1,160 at Linden Park 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 $1,159 at ST JAMES SENIOR 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

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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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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.