Cheap Apartments for Rent in Salem, IL from $552 (33 Rentals)

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

property at 400 S Marshall St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

3 Bedroom, 1 Bath Home for Rent

Available Now

400 S Marshall St

SalemIL62881
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Mills Crossing
2 to 3 Bedroom Apartments

Mills Crossing

600 Mills Cart RdSalem, IL 62881

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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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included

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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Lakewood Estates
1 to 2 Bedroom Apartments

Lakewood Estates

1114 E 3rd StO'Fallon, IL 62269
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215 anderson lane A
1 to 2 Bedroom Apartments

215 anderson lane A

215-223 Anderson LnShiloh, IL 62221
  • Utilities Included
property at 106 Lee Dr

$900

2 Bedroom Rentals

Available Now

106 Lee Dr

O'FallonIL62269

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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Showing Results 1-33, Page 1 of 1

Salem, IL Local Guide

Cheapest Available Salem Apartments for Rent and Nearby

 

The cheapest available apartment rental in Salem, IL is a 2 Beds unit found at Cedars of Lebanon Apartments in the Metro East neighborhood priced from $200. Lotts Landing Senior Apartments in the Macoupin County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $560. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cedars of Lebanon ApartmentsTwo Bedroom2BR,1BA$200
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$560
McKay Manor3 Bdrm3BR,2BA$800
The Raymond ApartmentsTwo bedroom2BR,1BA$800
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$845
Wilson ApartmentsTwo Bedroom - Laundry In Unit2BR,1BA$875
Shiloh Commons HoldingsA1 1 Bed | 1 Bath1BR,1BA$1,000
Linwood ApartmentsTwo Bed One Bath2BR,1BA$1,000
Chesterfield Village1 Bedroom 1 Bath1BR,1BA$1,038
The Meadows at Shadow Ridge1.1- 612 sq ft1BR,1BA$1,050

Best Value Apartments for Rent in Salem, IL and Nearby

As of August 23, 2026 the best value apartment in the Salem area is the $0.63 price per square foot 3 Bdrm Model at McKay Manor in the in the Clinton County neighborhood starting from $800. The second greatest value Salem apartment is the Hayden B1 Model at Storyboard on Hayden starting at $1,500 with a $1.20 price per square foot in the Metro East neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
McKay Manor3 Bdrm3BR,2BA$0.63
Storyboard on HaydenHayden B12BR,2.5BA$1.20
Storyboard on Park EntrancePark Entrance B12BR,2BA$1.15
Linwood ApartmentsTwo Bed One Bath2BR,1BA$0.91
1118 E 3rd St2 Beds, 1 bath2BR,1BA$1.18
The Raymond ApartmentsTwo bedroom2BR,1BA$1.00
Chesterfield Village1 Bedroom 1 Bath1BR,1BA$1.30
Wilson ApartmentsTwo Bedroom - Laundry In Unit2BR,1BA$1.17
Lotts Landing Senior Apartments1 Bedroom 1 Bathroom1BR,1BA$0.87
Cedars of Lebanon ApartmentsStudioStudio ,1BA$0.44

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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Salem, IL

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Remember the 3 Rules of Real Estate:
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Frequently Asked Questions about Cheap Salem Apartments

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

The lowest price for a Cheap One Bedroom Salem Apartment is $200 at Cedars of Lebanon Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Salem is starting from $200 at Cedars of Lebanon Apartments.

What is the most affordable Salem Three Bedroom Apartment?

The best deal on a cheap Salem Three Bedroom Apartment rental is at McKay Manor and starts from $800.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.