Cheap Homes for Rent in Richmond, IL from $600 (5 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in Richmond.

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.

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.

Richmond, IL Local Guide

Cheapest Available Richmond Apartments for Rent and Nearby

 

The cheapest available apartment rental in Richmond, IL is a 2 Beds unit found at Taylor Place in the Lincoln Hills neighborhood priced from $1,325. Prairie View (Patriot Prairie of Woodstock) in the Savanna Grove neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,350. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Taylor Place2br 2ba2BR,2BA$1,325
Prairie View (Patriot Prairie of Woodstock)STUDIOStudio,1BA$1,350
The Meadows Apartments LakemoorLaurel1BR,1BA$1,611

Best Value Apartments for Rent in Richmond, IL and Nearby

As of May 31, 2025 the best value apartment in the Richmond area is the $1.49 price per square foot Hampton Model at Southwind Prairie Apartments in the starting from $1,975. The second greatest value Richmond apartment is the Huxley Model at The Blake at Fox River starting at $2,196 with a $1.72 price per square foot in the Lincoln Hills neighborhood. Here is today’s list of the best values for Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Southwind Prairie ApartmentsHampton2BR,2BA$1.49
The Blake at Fox RiverHuxleyStudio ,1BA$1.72
West Harbor Residences at Reva Bay2 Beds, 2 baths2BR,2BA$1.48
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.68
Timber Oaks (Patriot Oaks)2 Bedroom 1 Bathroom2BR,1BA$1.45
The Ridges of Geneva EastLaurel2BR,1BA$1.67
Taylor Place2br 2ba2BR,2BA$1.28
The Meadows Apartments LakemoorLaurel1BR,1BA$2.04
Prairie View (Patriot Prairie of Woodstock)STUDIOStudio ,1BA$2.45

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Richmond

What type of rentals are currently available in Richmond?

There are currently 44 Apartments for Rent in Richmond, IL with pricing that ranges from $553 to $3,759. There are also 31 Single Family Homes for rent, Condos, and Townhome rentals currently available in Richmond ranging from $675 to $5,000.

What is the current price range for Rental Homes in Richmond?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Richmond ranges from $675 to $5,000 with an average monthly rent of $2,425.

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

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

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.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

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.