Cheap Apartments for Rent in University Park, IL from $500 (49 Rentals)

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

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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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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Richton Square Apartments
1 to 2 Bedroom Apartments

Richton Square Apartments

22300 Richton Square RdRichton Park, IL 60471
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Autumn Ridge
Studio to 3 Bedroom Apartments

Autumn Ridge

119 E Sycamore DrPark Forest, IL 60466
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136 E 155th
Studio to 3 Bedroom Apartments

136 E 155th

136 E 155th StHarvey, IL 60426
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Cedar Ridge Apartments
1 to 3 Bedroom Apartments

Cedar Ridge Apartments

950 Cedar Ridge LnRichton Park, IL 60471
Senior Living
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7449 Sycamore Ct
2 Bedroom Apartments

7449 Sycamore Ct

7449 Sycamore CtOrland Park, IL 60462
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Lansing Crossing, LLC
1 to 2 Bedroom Apartments

Lansing Crossing, LLC

18745 W Salem CtLansing, IL 60438
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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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Central Park
1 to 3 Bedroom Apartments

Central Park

11 Fir StPark Forest, IL 60466
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Village Crossing
2 Bedroom Apartments

Village Crossing

14729-14757 Homan AveMidlothian, IL 60445
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21746 Jeffrey
1 to 2 Bedroom Apartments

21746 Jeffrey

21746 S Jeffrey AveSauk Village, IL 60411
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7448 Sycamore Ct
1 to 2 Bedroom Apartments

7448 Sycamore Ct

7448 Sycamore CtOrland Park, IL 60462
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Apartments of Orland
1 to 2 Bedroom Apartments

Apartments of Orland

16005 Applewood LnOrland Hills, IL 60487
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7081 Apartments
1 to 2 Bedroom Apartments

7081 Apartments

7081 170th StTinley Park, IL 60477

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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Showing Results 1-49, Page 1 of 1

University Park, IL Local Guide

Cheapest Available University Park Apartments for Rent

 

The cheapest available apartment rental in University Park, IL is a Studio unit found at Crest Apartments in the University Park neighborhood priced from $800. Linden Park Apartments in the Downtown Park Forest neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,110. Here is today’s list of the most affordable University Park apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Linden Park ApartmentsStudio BStudio,1BA$1,110
Carriage Creek ApartmentsStudio Mid-RiseStudio,1BA$1,135
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1,159
Chelsea Garden1 Bed, 1 bath1BR,1BA$1,200
Dynasty House Apartments1 Bedroom UNIV1BR,1BA$1,305
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Bernice HomesTwo Bedroom home2BR,1BA$1,350
Park Towers Apartments1 Bed 1 Bath A1BR,1BA$1,365
Oakwood Townhomes1 Bedroom 1 Bath Townhouse1BR,1BA$1,365

Best Value Apartments for Rent in University Park, IL

As of July 25, 2026 the best value apartment in the University Park area is the $1.45 price per square foot 818 Sandra Dr Model at 818 Sandra Dr, Unit 818 Sandra Dr in the in the University Park neighborhood starting from $1,600. The second greatest value University Park apartment is the 1BR/1BATH Model at Heritage Manor starting at $1,450 with a $1.53 price per square foot in the Meadow Park neighborhood. Here is today’s list of the best values for University Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
818 Sandra Dr, Unit 818 Sandra Dr818 Sandra Dr2BR,1.5BA$1.45
Heritage Manor1BR/1BATH1BR,1BA$1.53
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1.25
Olympic Village ApartmentsThe Maple2BR,1BA$1.60
Cedar Ridge Apartments2 Bed 1 Bath2BR,1BA$1.72
Maple Leaf ApartmentsGarden1BR,1BA$1.66
Bernice HomesTwo Bedroom home2BR,1BA$1.69
Westbridge Apartments1 Bed 1 Bath B Renovated1BR,1BA$1.77
Park Towers Apartments1 Bed 1 Bath A1BR,1BA$1.77
Crest ApartmentsStudioStudio ,1BA$1.78

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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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 University Park, IL Rentals by Map

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See the most popular apartments and homes in University Park, IL

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Frequently Asked Questions about Cheap University Park Apartments

What is the Cheapest Studio apartment in University Park?

Currently the most affordable Cheap Studio Apartment in University Park is at Crest Apartments listed at $800.

How much is rent for a Cheap One Bedroom University Park Apartment?

The lowest price for a Cheap One Bedroom University Park Apartment is $1,195 at Carriage Creek Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in University Park is starting from $1,159 at ST JAMES SENIOR APARTMENTS.

What is the most affordable University Park Three Bedroom Apartment?

The best deal on a cheap University Park Three Bedroom Apartment rental is at Bernice Homes and starts from $1,600.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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

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.