Cheap Apartments for Rent in Princeton, IL from $400 (42 Rentals)

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

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Parkway Apartments
1 to 3 Bedroom Apartments

Parkway Apartments

419 Anderson StPrinceton, IL 61356

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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Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
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Rock Falls Apartments
Studio to 2 Bedroom Apartments

Rock Falls Apartments

1608 E Rock Falls RdRock Falls, IL 61071
  • Utilities Included
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Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
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1512 E Gardner Ln
3 Bedroom Apartments

1512 E Gardner Ln

1512 E Gardner LnPeoria Heights, IL 61616
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Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free

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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property at 918 6th St

$1,050

2 Bedroom, 1 Bath Home for Rent

Available Now

918 6th St

La SalleIL61301

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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Princeton, IL Local Guide

Cheapest Available Princeton Apartments for Rent and Nearby

 

The cheapest available apartment rental in Princeton, IL is a Studio unit found at Northland Park Apartments priced from $625. Hollow Hills in the Windchime neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here is today’s list of the most affordable Princeton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Northland Park ApartmentsStudioStudio,1BA$625
Hollow HillsStudioStudio,1BA$700
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Willow Knolls ApartmentsStudioStudio,1BA$750
Dixon River Apartments2BD/2BA2BR,1BA$775
103 W Railroad St1 Bed, 1 bath1BR,1BA$850
Nordic Villa ApartmentsLoft1BR,1BA$875
The Village on UniversityCollins at Village South1BR,1BA$895
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR,1BA$975

Best Value Apartments for Rent in Princeton, IL and Nearby

As of May 26, 2026 the best value apartment in the Princeton area is the $1.18 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the in the Northmoor Knolls neighborhood starting from $1,600. The second greatest value Princeton apartment is the HCIV2S1FP Model at Hollow Creek IV Apartments starting at $1,400 with a $1.22 price per square foot in the Windchime neighborhood. Here is today’s list of the best values for Princeton apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
Hollow Creek IV ApartmentsHCIV2S1FP2BR,2BA$1.22
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Flats at DunlapTwo Bedrooms, Two Bathrooms2BR,2BA$1.17
Nordic Villa ApartmentsTownhouse2BR,1.5BA$1.28
503 S Main St, Unit Unit 3503 S Main St2BR,1BA$1.02
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Dixon River Apartments2BD/2BA2BR,1BA$0.92
The Village on UniversityCollins at Village South1BR,1BA$1.24
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06

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!

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Frequently Asked Questions about Cheap Princeton Apartments

What is the Cheapest Studio apartment in Princeton?

Currently the most affordable Cheap Studio Apartment in Princeton is at Northland Park Apartments listed at $625.

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

The lowest price for a Cheap One Bedroom Princeton Apartment is $725 at Winkler Village Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Princeton is starting from $775 at Dixon River Apartments.

What is the most affordable Princeton Three Bedroom Apartment?

The best deal on a cheap Princeton Three Bedroom Apartment rental is at Dixon River Apartments and starts from $910.

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.