Cheap Apartments for Rent in University Park, IL from $500 (59 Rentals)

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

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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Richton Square Apartments
1 to 2 Bedroom Apartments

Richton Square Apartments

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

Autumn Ridge

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

136 E 155th St

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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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
  • 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.

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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

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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Showing Results 1-50, Page 1 of 2

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 $1,040. 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 AStudio,1BA$1,040
Carriage Creek ApartmentsStudio GardenStudio,1BA$1,125
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1,159
Thornwood Apartments2x1 8532BR,1BA$1,175
Edenbridge ApartmentsED1.5991BR,1BA$1,185
Chelsea Garden1 Bed, 1 bath1BR,1BA$1,200
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Bernice HomesTwo Bedroom home2BR,1BA$1,350
Park Towers Apartments1 Bed 1 Bath A1BR,1BA$1,405

Best Value Apartments for Rent in University Park, IL

As of April 26, 2026 the best value apartment in the University Park area is the $1.35 price per square foot 3 Bedroom 1 Bath Townhouse Model at Oakwood Townhomes in the in the Lincoln Station neighborhood starting from $1,825. The second greatest value University Park apartment is the 818 Sandra Dr Model at 818 Sandra Dr, Unit 818 Sandra Dr starting at $1,600 with a $1.45 price per square foot in the University 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.
Oakwood Townhomes3 Bedroom 1 Bath Townhouse3BR,1BA$1.35
818 Sandra Dr, Unit 818 Sandra Dr818 Sandra Dr2BR,1.5BA$1.45
Heritage Manor1BR/1BATH1BR,1BA$1.53
Maple Leaf ApartmentsMid-rise2BR,1.5BA$1.59
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
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1.63
Thornwood Apartments2x1 8532BR,1BA$1.38
Bernice HomesTwo Bedroom home2BR,1BA$1.69

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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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 $1,180 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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.