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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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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Parker Glen
1 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

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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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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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • 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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808 N Lincoln Ave
1 to 2 Bedroom Apartments

808 N Lincoln Ave

808 N Lincoln AveUrbana, IL 61801
Corporate Housing
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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. 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$525
Brunswick ApartmentsStudioStudio,1BA$625
Windcrest ApartmentsStudio / 1 BathroomStudio,1BA$625
Falcon Way TownhomesOne Bedroom1BR,1BA$661
The Grove1BR1BR,1BA$783
West Liberty Point2 Bedroom2BR,1BA$800
Town & Country ApartmentsDanbury1BR,1BA$814
University ParkOne Bedroom1BR,1BA$825
Aspen CourtThe Beech1BR,1BA$825
Townway Place1 Beds, 1 Baths1BR,1BA$850

Best Value Apartments for Rent in Rankin, IL and Nearby

As of November 12, 2025 the best value apartment in the Rankin area is the $0.69 price per square foot South Pointe 5bd/3.0ba Townhouse Model at South Pointe Commons in the starting from $1,204. The second greatest value Rankin apartment is the The Palmer Model at Golfview Village starting at $1,040 with a $0.63 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.
South Pointe CommonsSouth Pointe 5bd/3.0ba Townhouse5BR,3BA$0.69
Golfview VillageThe Palmer4BR,2.5BA$0.63
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Nantucket Cove ApartmentsThe Cambridge3BR,2BA$1.19
Town Center Apartments3 Bedroom 2 Bath3BR,2BA$1.01
Eastland Apartments2 Bedroom2BR,2BA$1.19
Campus OaksFloorplan A - Price per person4BR,2BA$0.65
Capstone QuartersTwo Bedroom Standard2BR,2BA$0.71
University ParkTwo Bedroom2BR,1BA$1.17
West Liberty Point2 Bedroom2BR,1BA$1.07

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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Quick 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.

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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

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

The lowest price for a Cheap One Bedroom Rankin Apartment is $661 at Falcon Way Townhomes.

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 $800 at West Liberty Point.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.