Cheap Apartments for Rent in Toledo, IL from $300 (48 Rentals)

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

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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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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Historic Walnut Square
1 to 3 Bedroom Apartments

Historic Walnut Square

200 S 6th StTerre Haute, IN 47807
  • Utilities Included
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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
  • Utilities Included
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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
  • Utilities Included

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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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included
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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938

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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The Deming
Studio to 2 Bedroom Apartments

The Deming

615 Cherry StTerre Haute, IN 47807
Showing Results 1-48, Page 1 of 1

Toledo, IL Local Guide

Cheapest Available Toledo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Toledo, IL is a 1 Bed unit found at Westport Apartments priced from $484. Anthony Square Senior Apartments in the Downtown Terre Haute neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $525. Here is today’s list of the most affordable Toledo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Westport ApartmentsOne Bedroom1BR,1BA$484
Anthony Square Senior Apartments1 BR, 1 BA1BR,1BA$525
Union Pointe1 Bedroom1BR,2BA$550
Arbors at Honey Creek2x22BR,2BA$610
OldeTowne Apartments1 Bed/1 Bath1BR,1BA$629
Willow CrossingsPhase I - StudioStudio,1BA$670
616 S 6th St0/1Studio,1BA$699
The Annex of Terre HauteStudio AStudio,1BA$725
The Village1BR/1.0BA1BR,1BA$725
THE GROVE AT FARRINGTON2 Bed 1 Bath2BR,1BA$750

Best Value Apartments for Rent in Toledo, IL and Nearby

As of April 28, 2026 the best value apartment in the Toledo area is the $0.99 price per square foot 3 Bed 2.5 Bath Model at Panther Heights in the starting from $1,380. The second greatest value Toledo apartment is the 3 Bedroom 1 baths Model at Lake Land Living starting at $535 with a $0.47 price per square foot . Here is today’s list of the best values for Toledo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Panther Heights3 Bed 2.5 Bath3BR,2.5BA$0.99
Lake Land Living3 Bedroom 1 baths3BR,1BA$0.47
Arbors at Honey Creek2x22BR,2BA$0.57
The Courtyard3 Bed 1 Bath3BR,1BA$1.27
THE GROVE AT FARRINGTON2 Bed 1 Bath2BR,1BA$0.90
Westport ApartmentsOne Bedroom1BR,1BA$0.71
Sycamore Place2.1 C2BR,1BA$0.80
Union Pointe1 Bedroom1BR,2BA$0.92
Winston Terrace1BR/1BA1BR,1BA$1.32
Anthony Square Senior Apartments2 BR, 1 BA2BR,1BA$1.20

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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Best Local Schools in
Toledo, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Toledo, IL Rentals by Map

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Frequently Asked Questions about Cheap Toledo Apartments

What is the Cheapest Studio apartment in Toledo?

Currently the most affordable Cheap Studio Apartment in Toledo is at Willow Crossings listed at $670.

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

The lowest price for a Cheap One Bedroom Toledo Apartment is $484 at Westport Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Toledo is starting from $579 at Westport Apartments.

What is the most affordable Toledo Three Bedroom Apartment?

The best deal on a cheap Toledo Three Bedroom Apartment rental is at Westport Apartments and starts from $665.

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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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.

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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.