Cheap Apartments for Rent near Putnam, IL from $400 (47 Rentals)

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

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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Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614

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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Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
property at 1016 N Maple St

$775

1 Bedroom, 1 Bath Home for Rent

Available Now

1016 N Maple St

PrincetonIL61356
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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
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The Hillsides
1 to 2 Bedroom Apartments

The Hillsides

4731 N Galena RdPeoria Heights, IL 61616
  • Utilities Included

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 441 E Marion St

$1,095

Total Monthly Price

Total Monthly Price

Base Rent
$1,095
Total Monthly Price
$1,095

2 Bedroom, 1 Bath Condo for Rent

Available Now

441 E Marion St, Unit 2E

441 E Marion St
PrincetonIL61356
property at 437 E Marion St

$1,095

Total Monthly Price

Total Monthly Price

Base Rent
$1,095
Total Monthly Price
$1,095

2 Bedroom, 1 Bath Condo for Rent

Available Now

437 E Marion St, Unit 2E

437 E Marion St
PrincetonIL61356

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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Showing Results 1-47, Page 1 of 1

Putnam, IL Local Guide

Cheapest Available Putnam Apartments for Rent and Nearby

 

The cheapest available apartment rental in Putnam, IL is a 1 Bed unit found at Winkler Village Apartments in the Woodford County neighborhood priced from $725. Knoxville Manor Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here is today’s list of the most affordable Putnam apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Knoxville Manor ApartmentsLevel 21BR,1BA$775
Willow Knolls ApartmentsStudio / 1 BathStudio,1BA$875
Nordic Villa ApartmentsLoft1BR,1BA$875
Hollow Hills ApartmentsStudio / 1 Bath (518 sqft)Studio,1BA$875
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$880
The Village on UniversityCollins at Village South1BR,1BA$895
Forest Hills Apartments1x11BR,1BA$950
Timberlane ApartmentsPrimrose1BR,1BA$965
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR,1BA$975

Best Value Apartments for Rent in Putnam, IL and Nearby

As of July 15, 2026 the best value apartment in the Putnam 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 Putnam apartment is the Signature 3 Bed, 2 Bath | 1,160 Sq Ft Model at The Grove Apartments starting at $1,575 with a $1.36 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Putnam apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
The Grove ApartmentsSignature 3 Bed, 2 Bath | 1,160 Sq Ft3BR,2BA$1.36
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Old Orchard Trace ApartmentsOOH2P/B Rehab2BR,1BA$1.40
Nordic Villa ApartmentsTownhouse2BR,1.5BA$1.28
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Forest Hills Apartments1x11BR,1BA$1.12
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$1.13
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!

Explore Putnam, IL Rentals by Map

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See the most popular apartments and homes in Putnam, IL

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Frequently Asked Questions about Cheap Putnam Apartments

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

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

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

Today's best deal for a Cheap Two Bedroom Apartment in Putnam is starting from $955 at Versailles Apartments.

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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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.