Cheap Homes for Rent in Spring Valley, IL from $500 (11 Rentals)

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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.

property at 2016 1st St

$925

2 Bedroom Rentals

Available Now

2016 1st St

PeruIL61354
property at 918 6th St

$1,050

2 Bedroom, 1 Bath Home for Rent

Available Now

918 6th St

La SalleIL61301

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.

Spring Valley, IL Local Guide

Cheapest Available Spring Valley Apartments for Rent and Nearby

 

The cheapest available apartment rental in Spring Valley, IL is a Studio unit found at Northland Park Apartments priced from $625. Winkler Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Spring Valley apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Northland Park ApartmentsStudioStudio,1BA$625
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Willow Knolls ApartmentsStudioStudio,1BA$750
Dixon River Apartments2BD/2BA2BR,1BA$775
Phoenix Apartments of PontiacOne Bedroom Deluxe1BR,1BA$795

Best Value Apartments for Rent in Spring Valley, IL and Nearby

As of May 23, 2026 the best value apartment in the Spring Valley area is the $1.18 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the in the Northmoor Knolls neighborhood starting from $1,600. The second greatest value Spring Valley apartment is the Easton Model at Knoxville Pointe starting at $1,562 with a $1.34 price per square foot in the Oakbrook neighborhood. Here is today’s list of the best values for Spring Valley apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
Knoxville PointeEaston2BR,2BA$1.34
MEADOWS OF LUKE RIDGE3 BED 1 BATH3BR,1BA$0.67
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
The Mallard Way Rental Community1 bed 1 bath1BR,1BA$1.22
Nordic Villa ApartmentsTownhouse2BR,1.5BA$1.28
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR,1BA$1.05
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Dixon River Apartments2BD/2BA2BR,1BA$0.92
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06

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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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!

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Frequently Asked Questions about Spring Valley

What type of rentals are currently available in Spring Valley?

There are currently 51 Apartments for Rent in Spring Valley, IL with pricing that ranges from $625 to $2,302. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Spring Valley ranging from $500 to $3,500.

What is the current price range for Rental Homes in Spring Valley?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Spring Valley ranges from $500 to $3,500 with an average monthly rent of $1,551.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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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.

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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.