Cheap Apartments for Rent near Toledo, IL from $413 (38 Rentals)

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

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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Historic Walnut Square
1 to 3 Bedroom Apartments

Historic Walnut Square

200 S 6th StTerre Haute, IN 47807
  • Utilities Included

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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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
property at 1811 N 8th St
$525 - $575
1 Bedroom Rentals
Available Now

1811 N 8th St

Terre HauteIN47804
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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included

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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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938
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616 S 6th St
Studio to 2 Bedroom Apartments

616 S 6th St

616 S 6th StMattoon, IL 61938

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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Toledo, IL Local Guide

Cheapest Available Toledo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Toledo, IL is a 3 Beds unit found at Sycamore Place in the Downtown Terre Haute neighborhood priced from $549. Union Pointe in the Downtown Terre Haute neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Toledo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Sycamore Place3 Bedroom 1.5 Bathroom Townhouse Fall 20263BR, 1BA$549
Union Pointe1 Bedroom1BR, 2BA$550
Westport ApartmentsTwo Bedroom2BR, 2BA$554
Arthur Ave Apartments1x11BR, 1BA$610
Arbors at Honey Creek2x22BR, 2BA$610
Anthony Square Senior Apartments2 BR, 1 BA2BR, 1BA$662
Willow CrossingsPhase I - StudioStudio, 1BA$730
The Annex of Terre HauteStudio CStudio, 1BA$760
Riverside Apartments2 Bedroom2BR, 1BA$800
The DemingI1BR, 1BA$819

Best Value Apartments for Rent in Toledo, IL and Nearby

As of September 20, 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 starting from $1,380. The second greatest value Toledo apartment is the Millennium Apartments 2BR/2BA 26/27 Waiting List Model at The Millennium Apartments starting at $610 with a $0.51 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
The Millennium ApartmentsMillennium Apartments 2BR/2BA 26/27 Waiting List2BR, 2BA$0.51
Melrose on 4thMelrose Apartments 2BR/2BA 26/27 Waiting List2BR, 2BA$0.55
Harrison West3 Bedroom3BR, 2BA$0.91
Arbors at Honey Creek2x22BR, 2BA$0.57
Westport ApartmentsTwo Bedroom2BR, 2BA$0.58
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR, 1.5BA$0.38
Park Place1639, 2 bed + study2BR, 1BA$0.99
Arthur Ave Apartments1x11BR, 1BA$0.97
Union Pointe1 Bedroom1BR, 2BA$0.92

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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Best Local Schools in
Toledo, IL

School data provided by Great Schools

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

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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 $730.

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

The lowest price for a Cheap One Bedroom Toledo Apartment is $550 at Union Pointe.

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 $554 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 Sycamore Place and starts from $549.

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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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.