Cheap Apartments for Rent in Urbana, IL from $300 (167 Rentals)

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

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211 W Illinois St, Unit 2
$860
Total Monthly Price

Total Monthly Price

Base Rent
$860
Total Monthly Price
$860
1 Bedroom Apartment Available Now

211 W Illinois St, Unit 2

211 W Illinois StUrbana, IL 61801
Affordability
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104 S Grove St
$950 - $1,025
Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,025
Total Monthly Price
$950 - $1,025
1 Bedroom Apartment Available Now

104 S Grove St

104 S Grove StUrbana, IL 61802
Affordability

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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905 W Oregon
3 to 4 Bedroom Apartments

905 W Oregon

905 W Oregon StUrbana, IL 61801
Student Housing
  • Utilities Included
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Urbana Commons
4 Bedroom Apartments

Urbana Commons

809 W Springfield AveUrbana, IL 61801
Student Housing
  • Utilities Included
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809 W Stoughton
2 to 4 Bedroom Apartments

809 W Stoughton

809 W Stoughton StUrbana, IL 61801
Student Housing
  • Utilities Included
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813 W Springfield Ave
1 to 3 Bedroom Apartments

813 W Springfield Ave

813 W Springfield AveUrbana, IL 61801
Student Housing
  • Utilities Included
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Krannert View
Studio to 2 Bedroom Apartments

Krannert View

1105-1107 W Oregon StUrbana, IL 61801
Student Housing
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106 S Gregory
Studio to 4 Bedroom Apartments

106 S Gregory

106 S Gregory StUrbana, IL 61801
Student Housing
  • 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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209 N Coler Ave
1 to 2 Bedroom Apartments

209 N Coler Ave

209 N Coler AveUrbana, IL 61801
Student Housing
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705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

705 W Elm StUrbana, IL 61801
Corporate Housing
  • Utilities Included
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Liberty Commons
2 to 3 Bedroom Apartments

Liberty Commons

1776 Independence AveUrbana, IL 61802
  • Utilities Included
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
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901 W Springfield Ave
1 to 2 Bedroom Apartments

901 W Springfield Ave

901 W Springfield AveUrbana, IL 61801
Student Housing
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The Cove
2 Bedroom Apartments

The Cove

1507 Washington St EUrbana, IL 61802
  • Utilities Included
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Bailey Apartments
1 Bedroom Apartments

Bailey Apartments

1004 W Springfield AveUrbana, IL 61801
Student Housing
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Colorado Hills
1 to 2 Bedroom Apartments

Colorado Hills

703 E Colorado AveUrbana, IL 61801
  • Utilities Included

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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902 S Lincoln Ave
Studio to 3 Bedroom Apartments

902 S Lincoln Ave

902 S Lincoln AveUrbana, IL 61801
  • Utilities Included
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102 N Gregory St
Studio to 2 Bedroom Apartments

102 N Gregory St

102 N Gregory StUrbana, IL 61801
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505 S Busey Ave
Studio to 2 Bedroom Apartments

505 S Busey Ave

505 S Busey AveUrbana, IL 61801
Student Housing
  • Utilities Included
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1010 W Stoughton
1 to 3 Bedroom Apartments

1010 W Stoughton

1010 W Stoughton StUrbana, IL 61801
Student Housing
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706 S Walnut St
2 Bedroom Apartments

706 S Walnut St

706 S Walnut StUrbana, IL 61801
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Hillview
1 to 2 Bedroom Apartments

Hillview

1701 E Florida AveUrbana, IL 61802
  • Utilities Included
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804 W Illinois
1 to 2 Bedroom Apartments

804 W Illinois

804 W Illinois StUrbana, IL 61801
Student Housing
  • Utilities Included

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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Urbana, IL Local Guide

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Staff Writer
Local Guide Expert

Cheapest Available Urbana Apartments for Rent

 

The cheapest available apartment rental in Urbana, IL is a 1 Bed unit found at Parker Glen priced from $533. 305JOH in the Downtown Champaign neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $590. Here is today’s list of the most affordable Urbana apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen1Bdrm1BR,1BA$533
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$590
1012 S 1st StIndividual Lease2BR,1BA$650
1002SECFlexible Bedroom LeasesStudio,2BA$680
907 S 2nd StStudioStudio,1BA$795
2008 S Vawter St4 Beds4BR,2BA$800
Urbana Estates1x1Urbana Estates1BR,1BA$800
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
312 S State St1 Beds, 1 Baths1BR,1BA$825
58 E Healey58 E Healey - 2031BR,1BA$825

Best Value Apartments for Rent in Urbana, IL

As of July 27, 2026 the best value apartment in the Urbana area is the $0.60 price per square foot D1 Model at Campus Circle Urbana in the in the Downtown Champaign neighborhood starting from $839. The second greatest value Urbana apartment is the D3 Model at The Dean Campustown starting at $1,210 with a $0.93 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Urbana apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Campus Circle UrbanaD14BR,4BA$0.60
The Dean CampustownD34BR,4BA$0.93
Town Center Apartments3 Bedroom 2 Bath3BR,2BA$0.70
The Linc Apartments3x33BR,3BA$0.65
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
202 E. Green St by Bankier Apartments4BR/3BA4BR,3BA$0.82
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80
Parker Glen1Bdrm1BR,1BA$0.72

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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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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Urbana Overview

The Midwestern United States is one of the fastest growing regions of the country and one of the most popular cities is Urbana, IL. Urbana apartments represent a great living opportunity for both individuals and families alike. Apartments in Urbana, IL provide everyone with an affordable way to live, work, and enjoy everything this great city has to offer, Urbana, IL is known for its gorgeous weather, friendly people, and delicious food! With this in mind, take a few minutes to learn more about why so many people are falling in love with Urbana, IL.

Why live in Urbana, IL?

The vast majority of people choose to live in Urbana, IL because of the lifestyle it provides. Urbana, IL is home to fantastic schools from childhood through college. The weather is mild and the city is easy to navigate. There is always great food and festivals take place in the city from time to time. The people are friendly to everyone, making this a great town for individuals and families of all ages. For these reasons, many people are flocking to Urbana, IL to call this city home.

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Urbana, IL

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

Explore Urbana, IL Rentals by Map

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See the most popular apartments and homes in Urbana, IL

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Frequently Asked Questions about Cheap Urbana Apartments

What is the Cheapest Studio apartment in Urbana?

Currently the most affordable Cheap Studio Apartment in Urbana is at 1002SEC listed at $680.

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

The lowest price for a Cheap One Bedroom Urbana Apartment is $533 at Parker Glen.

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

Today's best deal for a Cheap Two Bedroom Apartment in Urbana is starting from $650 at 1012 S 1st St.

What is the most affordable Urbana Three Bedroom Apartment?

The best deal on a cheap Urbana Three Bedroom Apartment rental is at Town Center Apartments and starts from $830.

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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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.

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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.