Cheap Apartments for Rent in University Park, IL from $500 (18 Rentals)

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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.

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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Richton Square Apartments
1 to 2 Bedroom Apartments

Richton Square Apartments

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

Autumn Ridge

119 E Sycamore DrPark Forest, IL 60466
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Cedar Ridge Apartments
1 to 3 Bedroom Apartments

Cedar Ridge Apartments

950 Cedar Ridge LnRichton Park, IL 60471
Senior Living
  • Utilities Included

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.

University Park, IL Local Guide

Cheapest Available University Park Apartments for Rent

 

The cheapest available apartment rental in University Park, IL is a 1 Bed unit found at ST JAMES SENIOR APARTMENTS in the University Park neighborhood priced from $553. The Shields has the second lowest priced unit, which is a 2 Beds apartment currently listed from $979. Here is today’s list of the most affordable University Park apartments for rent:

Apartment ListingModel NameBed/BathPriced From
ST JAMES SENIOR APARTMENTS1 BED 1 BATH1BR,1BA$553
The Shields2 Bedroom2BR,1BA$979
Linden Park ApartmentsStudio AStudio,1BA$1,000
Carriage Creek Apartments1 bedroom2BR,1BA$1,025
136 E 155th St Harvey, IL 604263 Bedroom 1 Bath Apartment3BR,1BA$1,105

Best Value Apartments for Rent in University Park, IL

As of January 25, 2026 the best value apartment in the University Park area is the $1.44 price per square foot 3 Bedroom 1 Bath Townhouse Model at Central Park in the in the Lincoln Station neighborhood starting from $1,939. The second greatest value University Park apartment is the 2BR Model at Edgewater Walk Apartments starting at $1,450 with a $1.28 price per square foot in the Barrett Brothers 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.
Central Park3 Bedroom 1 Bath Townhouse3BR,1BA$1.44
Edgewater Walk Apartments2BR2BR,2BA$1.28
818 Sandra Dr, Unit 818 Sandra Dr818 Sandra Dr2BR,1.5BA$1.45
The Shields2 Bedroom2BR,1BA$1.00
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1.25
Manchester Court Apartments2BR/1BA2BR,1BA$1.45
Carriage Creek Apartments2 bedroom2BR,1BA$1.42
Maple Leaf ApartmentsGarden1BR,1BA$1.64
Bernice HomesTwo Bedroom home2BR,1BA$1.69
136 E 155th St Harvey, IL 604263 Bedroom 1 Bath Apartment3BR,1BA$1.41

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

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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 Linden Park Apartments listed at $1,000.

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

The lowest price for a Cheap One Bedroom University Park Apartment is $553 at ST JAMES SENIOR 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 $979 at The Shields.

What is the most affordable University Park Three Bedroom Apartment?

The best deal on a cheap University Park Three Bedroom Apartment rental is at 136 E 155th St Harvey, IL 60426 and starts from $1,105.

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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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.