Cheap Apartments for Rent in Rankin, IL from $500 (34 Rentals)

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

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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Parker Glen
2 to 3 Bedroom Apartments

Parker Glen

2501 N Neil StChampaign, IL 61820
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
property at 202 S Lynn St

202 S Lynn St

UrbanaIL61802

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included
Showing Results 1-34, 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 3 Beds unit found at Parker Glen priced from $525. Windcrest Apartments in the Downtown Champaign neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $615. Here is today’s list of the most affordable Rankin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen3 Bedroom3BR,2BA$525
Windcrest ApartmentsStudio / 1 BathroomStudio,1BA$615
Brunswick ApartmentsStudioStudio,1BA$625
Country Manor Apartments1BR/1.0BA1BR,1BA$649
The Grove1 Bed 1 Bath1BR,1BA$726
Townway Place1 Beds, 1 Baths1BR,1BA$795
South Pointe CommonsSouth Pointe 3bd/1.5ba Townhouse3BR,1BA$834
Town & CountryDanbury1BR,1BA$845
Devonshire Village1 Bed 1 Bath1BR,1BA$900
Aspen CourtThe Sugar Maple2BR,1BA$950

Best Value Apartments for Rent in Rankin, IL and Nearby

As of May 28, 2025 the best value apartment in the Rankin 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 Rankin apartment is the Three Bedroom Standar Model at Capstone Quarters starting at $565 with a $0.40 price per square foot in the Campustown IL 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.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Capstone QuartersThree Bedroom Standar3BR,3BA$0.40
Campus Circle UrbanaD24BR,4BA$0.72
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
South Pointe CommonsSouth Pointe 3bd/1.5ba Townhouse3BR,1.5BA$0.80
Campus OaksFloorplan A - Price per person4BR,2BA$0.60
Parker Glen2 Bedroom2BR,1BA$1.27
Aspen CourtThe Sugar Maple2BR,1.5BA$1.10
Country Manor Apartments1BR/1.0BA1BR,1BA$0.76
The Grove1 Bed 1 Bath1BR,1BA$0.97

Quick Rent Budget Calculator

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

Explore Rankin, IL Rentals by Map

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See the most popular apartments and homes in Rankin, IL

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Getting Around Rankin, IL

Walk Score®

8 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

33 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 Windcrest Apartments listed at $615.

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

The lowest price for a Cheap One Bedroom Rankin Apartment is $649 at Country Manor Apartments.

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 $699 at Country Manor Apartments.

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 $525.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.