Cheap Homes for Rent in Shannon, IL from $700 (18 Rentals)

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

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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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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Showing Results 1-18, Page 1 of 1

Shannon, IL Local Guide

Cheapest Available Shannon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Shannon, IL is a 2 Beds unit found at Rockford Housing Authority in the Central Terrace neighborhood priced from $480. Riverside Apartments and Townhomes has the second lowest priced unit, which is a Studio apartment currently listed from $525. Here is today’s list of the most affordable Shannon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rockford Housing AuthorityPark Terrace 2 Bed2BR,1BA$480
Riverside Apartments and TownhomesStudioStudio,1BA$525
Roosevelt School Apartments1 bedroom1BR,1BA$570
Windsor Apartments3 bedroom 2 bathroom3BR,2BA$600
Northland Park ApartmentsStudioStudio,1BA$625

Best Value Apartments for Rent in Shannon, IL and Nearby

As of June 26, 2025 the best value apartment in the Shannon area is the $0.99 price per square foot 2 Story 3 Bed: Second Floor Model at Valley Bluff Townhomes in the starting from $1,550. The second greatest value Shannon apartment is the 2 bedroom one bathroom Model at Carlton Apartments starting at $825 with a $0.69 price per square foot in the Central Terrace neighborhood. Here is today’s list of the best values for Shannon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Valley Bluff Townhomes2 Story 3 Bed: Second Floor3BR,2BA$0.99
Carlton Apartments2 bedroom one bathroom2BR,1BA$0.69
Winmar Townhomes1378-a3BR,2BA$0.71
Roosevelt School Apartments2 bedroom2BR,1.5BA$1.00
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$0.71
Greenfield39-a3BR,1BA$0.84
Westwinds2BD 1BA2BR,1BA$0.86
Windsor Apartments1 bedroom 1 bathroom1BR,1BA$0.87
Kiwanis Manor Apartments3001 - updated2BR,1BA$1.00
Rockford Housing AuthorityOlesen Plaza 1 Bed1BR,1BA$0.98

Quick Rent Budget Calculator

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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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Frequently Asked Questions about Shannon

What type of rentals are currently available in Shannon?

There are currently 59 Apartments for Rent in Shannon, IL with pricing that ranges from $480 to $2,500. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Shannon ranging from $750 to $2,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Shannon ranges from $750 to $2,500 with an average monthly rent of $1,269.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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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.