
Cheap Homes for Rent near Putnam, IL from $800 (16 Rentals)
Search the lowest-cost Homes available for rent right now in Putnam.


214 S Bloomington St

704 1/2 6th Ave

705 Washington St

407 6th St
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.

501 E Cleveland St

3119 W Willow Knolls Dr

826 N Spalding St

611 W Matthews St

605 N Monroe St
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.

437 E Marion St, Unit 2E

408 22nd Ave

103 Hollyhock Ln

301 N 1st St

222 Horseshoe Ln
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.

622 W Laclaire Ln
Putnam, IL Local Guide

How much does it cost to rent a home in Putnam?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Putnam 2 Bedroom Homes for Rent | $1,319 | $850 | $2,500 |
| Putnam 3 Bedroom Homes for Rent | $2,166 | $1,025 | $4,000 |
| Putnam 4 Bedroom Homes for Rent | $2,916 | $2,750 | $3,000 |
| Putnam 5 Bedroom Homes for Rent | $3,000 | $3,000 | $3,000 |
Browse Top Homes for Rent in Putnam
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Putnam, IL Local Guide
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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. Willow Knolls Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here is today’s list of the most affordable Putnam apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Winkler Village Apartments | 1BD 1BTH | 1BR,1BA | $725 |
| Willow Knolls Apartments | Studio / 1 Bath | Studio,1BA | $799 |
| Hollow Hills Apartments | 1 Bed / 1 Bath (615 sqft) | 1BR,1BA | $849 |
| Forest Hills Apartments | 1x1 | 1BR,1BA | $854 |
| The Hillsides | 1BDR | 1BR,1BA | $875 |
Best Value Apartments for Rent in Putnam, IL and Nearby
As of August 24, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Eagle Point Apartments | 3 Bedroom 2 Bath | 2BR,2BA | $1.18 |
| The Grove Apartments | Signature 3 Bed, 2 Bath | 1,160 Sq Ft | 3BR,2BA | $1.36 |
| Camden Hills Apartments | 2 Bedroom, 2 Bath | 2BR,2BA | $1.23 |
| Nordic Villa Apartments | Townhouse | 2BR,1.5BA | $1.28 |
| Kellogg Place Apartments | 2 Bed / 1 Bath | 2BR,1BA | $1.23 |
| Forest Hills Apartments | 1x1 | 1BR,1BA | $1.00 |
| Hillcrest Apartments | 2 BR / 1 BA | 2BR,1BA | $1.15 |
| Woodsage Apartments | 1 Bedroom Unit | 1BR,1BA | $1.44 |
| Winkler Village Apartments | 1BD 1BTH | 1BR,1BA | $1.06 |
| Hollow Hills Apartments | 1 Bed / 1 Bath (615 sqft) | 1BR,1BA | $1.38 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Putnam, IL Rentals by Map
See the most popular apartments and homes in Putnam, IL
Frequently Asked Questions about Putnam
What type of rentals are currently available in Putnam?
There are currently 41 Apartments for Rent in Putnam, IL with pricing that ranges from $700 to $2,675. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Putnam ranging from $800 to $4,000.
What is the current price range for Rental Homes in Putnam?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Putnam ranges from $800 to $4,000 with an average monthly rent of $1,765.
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

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.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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.

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.