Cheap Apartments for Rent in Sheldon, IL from $400 (48 Rentals)

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

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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Victory on Salisbury
Rent Specials
$1,029 - $1,130
Total Monthly Price

Total Monthly Price

Base Rent
$1,029 - $1,130
Total Monthly Price
$1,029 - $1,130
3 to 4 Bedroom Apartments Available Now

Victory on Salisbury

300 N Salisbury StWest Lafayette, IN 47906
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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 Now

State Street Commons

120 Andrew PlzWest Lafayette, IN 47906
Student Housing
  • Verified
  • Utilities Included
  • Low Income
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The Vintage
Studio Apartments

The Vintage

230 S Grant StWest Lafayette, IN 47906
Student Housing

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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Bethel Townhomes
3 Bedroom Apartments

Bethel Townhomes

3552-3558 Bethel DrWest Lafayette, IN 47906
Student Housing
  • Utilities Included
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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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1155 Anthrop Dr
Studio to 2 Bedroom Apartments

1155 Anthrop Dr

1155 Anthrop DrWest Lafayette, IN 47906
Student Housing
  • Utilities Included
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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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River Cross
2 to 3 Bedroom Apartments

River Cross

915 N 6th StLafayette, IN 47904
Student Housing

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 1-48, Page 1 of 1

Sheldon, IL Local Guide

Cheapest Available Sheldon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Sheldon, IL is a 3 Beds unit found at Launch in the Discovery Park neighborhood priced from $649. Woods Edge has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Sheldon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Launch3A3BR,3BA$649
Woods EdgeThe Boilermaker1BR,1BA$750
Downtown Lafayette Living!StudioStudio,1BA$750
Fairway ApartmentsKingston | Text to Tour 765-735-3515. Priced pe...2BR,1BA$760
Falcon Way TownhomesOne Bedroom1BR,1BA$775
The Vibe on ParamountThe Vibe at Paramount - 2 Bed/2 Bath - Unit 103...2BR,2BA$780
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$795
Historic Downtown Apartments II2x12BR,1BA$800
The Luna FlatsLuna Flats - Individual Lease - 2bed (Private R...2BR,2BA$850

Best Value Apartments for Rent in Sheldon, IL and Nearby

As of April 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 1 Bedroom Model at The Press starting at $1,200 with a $0.77 price per square foot in the Downtown Lafayette 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
The Press1 Bedroom1BR,1BA$0.77
Candlelight EstatesLeasing NOW - 2026 Brand new 3bd/2bth homes3BR,2BA$1.06
Lodge on the TrailNevada-PREM3BR,3BA$0.56
The Cottages on Lindberg2 BEDROOM 2.5 BATH2BR,2.5BA$0.77
The Oasis3C- Premium 13's3BR,3BA$0.78
Wabash Lofts2x22BR,2BA$1.04
The Vibe on ParamountThe Vibe at Paramount - 2 Bed/2 Bath - Unit 103...2BR,2BA$0.87
Fairway ApartmentsKingston | Text to Tour 765-735-3515. Priced pe...2BR,1BA$0.85
Woods EdgeThe Boilermaker1BR,1BA$1.07

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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 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 Downtown Lafayette Living! listed at $750.

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

The lowest price for a Cheap One Bedroom Sheldon Apartment is $750 at Woods Edge.

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 $649.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.