Cheap Apartments for Rent in Rankin, IL from $500 (44 Rentals)

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

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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Town & Country Apartments
Rent Specials
$783 - $1,638
Total Monthly Price

Total Monthly Price

Base Rent
$716 - $1,571
Required Monthly Fees
$67
Total Monthly Price
$783 - $1,638
1 to 2 Bedroom Apartments Available Now

Town & Country Apartments

1032 Kerr Ave EUrbana, IL 61802
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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University Park
$850 - $995
Total Monthly Price

Total Monthly Price

Base Rent
$805 - $950
Required Monthly Fees
$45
Total Monthly Price
$850 - $995
1 to 2 Bedroom Apartments Available Now

University Park

908 N Broadway AveUrbana, IL 61801
Pet Friendly
  • Verified
  • Customer Reviewed
  • 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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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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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
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West Liberty Point
1 Bedroom Apartments

West Liberty Point

1320 Mccullough StRantoul, IL 61866
  • Utilities Included

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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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 1-44, 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 3 Beds unit found at Parker Glen priced from $605. Brunswick Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here is today’s list of the most affordable Rankin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen3 Bedroom3BR,2BA$605
Brunswick Apartments0BR/1.0BAStudio,1BA$625
The Verander1Br1BR,1BA$732
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$795
Urbana Estates1x1Urbana Estates1BR,1BA$800
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
Falcon Way TownhomesThree Bedroom Townhome3BR,1BA$811
Aspen CourtThe Beech1BR,1BA$825
ONYXThe Cottage2BR,1BA$850

Best Value Apartments for Rent in Rankin, IL and Nearby

As of February 21, 2026 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 2 Bed 2 Bath Private Entry Model at Devonshire Village starting at $1,450 with a $1.21 price per square foot . 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
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
South Pointe CommonsSouth Pointe 3bd/1.5ba Townhouse3BR,1.5BA$0.92
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Town Center Apartments2 Bedroom 1 Bath2BR,1BA$1.14
University ParkTwo Bedroom2BR,1BA$1.17
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80
Falcon Way TownhomesTwo Bedroom Townhome2BR,1BA$1.07
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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.

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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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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 Brunswick Apartments listed at $625.

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

The lowest price for a Cheap One Bedroom Rankin Apartment is $732 at The Verander.

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 $850 at ONYX.

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 $605.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.