Cheap Apartments for Rent in Philo, IL from $600 (40 Rentals)

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

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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705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

705 W Elm StUrbana, IL 61801
Corporate Housing
  • Utilities Included
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
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Hessel on the Park
2 Bedroom Apartments

Hessel on the Park

1601-1862 Valley RdChampaign, IL 61820
  • Utilities Included
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106 N gregory
1 Bedroom Apartments

106 N gregory

106 N Gregory 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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Windsor Duplexes
2 Bedroom Apartments

Windsor Duplexes

907 E Harding DrUrbana, IL 61801
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608 E Chalmers
Studio to 4 Bedroom Apartments

608 E Chalmers

608 E Chalmers StChampaign, IL 61820
Student Housing
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307 & 311 W. Birch
1 Bedroom Apartments

307 & 311 W. Birch

307-311 Birch StChampaign, IL 61820
  • Utilities Included
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1003 W Stoughton
1 to 2 Bedroom Apartments

1003 W Stoughton

1003 W Stoughton StUrbana, IL 61801
Corporate Housing
  • 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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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.

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Showing Results 1-40, Page 1 of 1

Philo, IL Local Guide

Cheapest Available Philo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Philo, IL is a 1 Bed unit found at Bailey Student Apartments Available 2026! priced from $750. 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 Philo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
Urbana Estates1x1Urbana Estates1BR,1BA$800
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
Aspen CourtThe Beech1BR,1BA$847
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$925
Element on Main2x12BR,1BA$1,050
608 E ChalmersEARLY MOVE-IN AVAILABLE! Fall lease, four bed f...4BR,4BA$1,060
Parkside2 Bedroom 1 Bath - 850 SF2BR,1BA$1,080
307 & 311 W. BirchCanopy1BR,1BA$1,130
Fairlawn Village2 Bedroom Standard w/DW2BR,1BA$1,130

Best Value Apartments for Rent in Philo, IL and Nearby

As of April 29, 2026 the best value apartment in the Philo area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Philo apartment is the Fall lease, four bed four bath apartment in Qua... Model at 608 E Chalmers starting at $1,060 with a $0.80 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Philo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$0.80
The Courtyards @ Prairie Fields2 bedroom2BR,2BA$1.41
Sterling on First3x3 Titanium3BR,3BA$1.40
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Parkside2 Bedroom 1 Bath 850 SF Upgrade2BR,1BA$1.42
202 RaceBeautiful 2BD Condo in Downtown Urbana! Availab...2BR,1BA$1.44
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
1008 S. 4thB32BR,2BA$1.56
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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.

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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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Quick 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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Philo, IL Rentals by Map

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See the most popular apartments and homes in Philo, IL

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Frequently Asked Questions about Cheap Philo Apartments

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

The lowest price for a Cheap One Bedroom Philo Apartment is $750 at Bailey Student Apartments Available 2026!.

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

Today's best deal for a Cheap Two Bedroom Apartment in Philo is starting from $850 at Bailey Student Apartments Available 2026!.

What is the most affordable Philo Three Bedroom Apartment?

The best deal on a cheap Philo Three Bedroom Apartment rental is at Urbana Estates and starts from $1,000.

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 Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

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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.

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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.