Cheap Apartments for Rent near Sheldon, IL from $400 (53 Rentals)

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

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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Lindberg Lofts
$1,224 - $1,812
Total Monthly Price

Total Monthly Price

Base Rent
$1,224 - $1,812
Total Monthly Price
Varies
1 Bedroom Apartments Available Now

Lindberg Lofts

2081 Lindberg RdWest Lafayette, IN 47906
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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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State Street Commons
Rent Specials
$1,400 - $2,800
Total Monthly Price

Total Monthly Price

Base Rent
$1,400 - $2,800
Total Monthly Price
$1,400 - $2,800
2 Bedroom Apartments Available Soon

State Street Commons

120 Andrew PlWest Lafayette, IN 47906
Student Housing
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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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The Vintage
Studio Apartments

The Vintage

230 S Grant StWest Lafayette, IN 47906
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Bethel Townhomes
3 Bedroom Apartments

Bethel Townhomes

3552-3558 Bethel DrWest Lafayette, IN 47906
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1155 Anthrop Dr
Studio to 2 Bedroom Apartments

1155 Anthrop Dr

1155 Anthrop DrWest Lafayette, IN 47906
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West Harbor Place
2 to 3 Bedroom Apartments

West Harbor Place

703 W Harbor StKankakee, IL 60901
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1304 E North St
1 to 2 Bedroom Apartments

1304 E North St

1304 E North StBradley, IL 60915
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River Cross
2 to 3 Bedroom Apartments

River Cross

915 N 6th StLafayette, IN 47904
Student Housing

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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Sheldon, IL Local Guide

Cheapest Available Sheldon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Sheldon, IL is a 1 Bed unit found at Southfork Apartments in the Discovery Park neighborhood priced from $499. Launch in the Discovery Park neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $659. Here is today’s list of the most affordable Sheldon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Southfork Apartments1BR/1.0BA1BR,1BA$499
Launch3B3BR,3BA$659
1214 Columbia StreetStudioStudio,1BA$735
McCormick Manor2 Bedroom 2 Bath *per Bed Price2BR,2BA$745
Woods EdgeThe Boilermaker1BR,1BA$750
Historic Downtown Apartments II2x12BR,1BA$800
Townway Place1 Beds, 1 Baths1BR,1BA$800
The Grove1BR1BR,1BA$816
Shai Lynn1bd/1bth1BR,1BA$900
Madison Cottage of Rensselaer1x11BR,1BA$970

Best Value Apartments for Rent in Sheldon, IL and Nearby

As of July 24, 2026 the best value apartment in the Sheldon area is the $0.34 price per square foot 3 Bedroom x 3.5 Bathroom Townhouse Model at Lark West Lafayette Townhomes in the starting from $649. The second greatest value Sheldon apartment is the 4BR - D1 Model at EVER West Lafayette starting at $1,469 with a $1.19 price per square foot in the Discovery Park neighborhood. Here is today’s list of the best values for Sheldon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lark West Lafayette Townhomes3 Bedroom x 3.5 Bathroom Townhouse3BR,3.5BA$0.34
EVER West Lafayette4BR - D14BR,4BA$1.19
Lodge on the TrailNevada-PREM3BR,3BA$0.52
McCormick Manor2 Bedroom 2 Bath *per Bed Price2BR,2BA$0.66
Devonshire Village2 Bed 2 Bath Sm Apt2BR,2BA$1.09
Wabash Lofts2x22BR,2BA$0.82
Madison Cottage of Rensselaer1x11BR,1BA$1.14
Victory on Salisbury3BR/1BA3BR,1BA$1.05
Woods EdgeThe Boilermaker1BR,1BA$1.07
2712BR/1.0BA2BR,1BA$1.07

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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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 Sheldon, IL Rentals by Map

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See the most popular apartments and homes in Sheldon, IL

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Frequently Asked Questions about Cheap Sheldon Apartments

What is the Cheapest Studio apartment in Sheldon?

Currently the most affordable Cheap Studio Apartment in Sheldon is at 1214 Columbia Street listed at $735.

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

The lowest price for a Cheap One Bedroom Sheldon Apartment is $499 at Southfork Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Sheldon is starting from $719 at Launch.

What is the most affordable Sheldon Three Bedroom Apartment?

The best deal on a cheap Sheldon Three Bedroom Apartment rental is at Launch and starts from $659.

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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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.