Cheap Apartments for Rent near Rankin, IL from $533 (44 Rentals)

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

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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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801

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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Showing Results 1-44, Page 1 of 1

Rankin, IL Local Guide

Cheapest Available Rankin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Rankin, IL is a 1 Bed unit found at Parker Glen priced from $533. West Liberty Point 1BR has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Rankin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen1Bdrm1BR,1BA$533
West Liberty Point 1BRWest Liberty Point 1BR - West...1BR,1BA$725
Townway Place1 Beds, 1 Baths1BR,1BA$800
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
The Grove1BR1BR,1BA$816
Town Center Apartments3 Bedroom 2 Bath3BR,2BA$830
Town & Country ApartmentsDanbury1BR,1BA$862
The Verander2Br2BR,1BA$872
Eastland ApartmentsStudio ApartmentStudio,1BA$895
808 N Lincoln Ave. Urbana, IL2 Bed / 1 Bath2BR,1BA$895

Best Value Apartments for Rent in Rankin, IL and Nearby

As of August 27, 2026 the best value apartment in the Rankin area is the $0.42 price per square foot Three Bedroom Standard Model at Capstone Quarters in the starting from $585. The second greatest value Rankin apartment is the D2 Model at Campus Circle Urbana starting at $819 with a $0.60 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Rankin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Capstone QuartersThree Bedroom Standard3BR,3BA$0.42
Campus Circle UrbanaD24BR,4BA$0.60
Onyx Apartments4x24BR,2BA$0.55
Town Center Apartments3 Bedroom 2 Bath3BR,2BA$0.70
The Linc Apartments3x33BR,3BA$0.65
Devonshire Village2 Bed 2 Bath Sm Apt2BR,2BA$1.09
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Urbana Estates2X1Urbana Estates2BR,1BA$1.07
Falcon Way TownhomesTwo Bedroom Townhome2BR,1BA$1.04
Parker Glen1Bdrm1BR,1BA$0.72

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

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Frequently Asked Questions about Cheap Rankin Apartments

What is the Cheapest Studio apartment in Rankin?

Currently the most affordable Cheap Studio Apartment in Rankin is at Eastland Apartments listed at $895.

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

The lowest price for a Cheap One Bedroom Rankin Apartment is $533 at Parker Glen.

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

Today's best deal for a Cheap Two Bedroom Apartment in Rankin is starting from $629 at Parker Glen.

What is the most affordable Rankin Three Bedroom Apartment?

The best deal on a cheap Rankin Three Bedroom Apartment rental is at Parker Glen and starts from $714.

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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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.

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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.