Cheap Apartments for Rent in Urbana, IL from $300 (194 Rentals)

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

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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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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809 W Springfield
4 Bedroom Apartments

809 W Springfield

809 W Springfield AveUrbana, IL 61801
Student Housing
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905 W Oregon
3 to 4 Bedroom Apartments

905 W Oregon

905 W Oregon StUrbana, IL 61801
Student Housing
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809 W Stoughton
2 to 4 Bedroom Apartments

809 W Stoughton

809 W Stoughton StUrbana, IL 61801
Student Housing
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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
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Krannert View
Studio to 2 Bedroom Apartments

Krannert View

1105-1107 W Oregon StUrbana, IL 61801
Student Housing

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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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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106 S Gregory
Studio to 4 Bedroom Apartments

106 S Gregory

106 S Gregory StUrbana, 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
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2008 Vawter St
2 to 4 Bedroom Apartments

2008 Vawter St

2008 Vawter StUrbana, IL 61801
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Liberty Commons
2 to 3 Bedroom Apartments

Liberty Commons

1776 Independence AveUrbana, IL 61802
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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
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Bailey Apartments
1 Bedroom Apartments

Bailey Apartments

1004 W Springfield AveUrbana, IL 61801
Student Housing

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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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 4 Beds unit found at 305JOH in the Downtown Champaign neighborhood priced from $499. 106 S Gregory has the second lowest priced unit, which is a 4 Beds apartment currently listed from $639. Here is today’s list of the most affordable Urbana apartments for rent:

Apartment ListingModel NameBed/BathPriced From
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$499
106 S GregorySpring lease, four bed two bath apartment in Gr...4BR,2BA$639
1002SECFall 2026 Leasing – 4-Bedroom, 2-Bath4BR,2BA$658
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$659
107 E SpringfieldSpring semester move in, two bed one bath apart...2BR,1BA$709
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
Urbana Estates1x1Urbana Estates1BR,1BA$800
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
58 E Healey58 E Healey - 3091BR,1BA$825
408 E HealeyFall lease, two bed one bath apartment in Midto...2BR,1BA$829

Best Value Apartments for Rent in Urbana, IL

As of April 28, 2026 the best value apartment in the Urbana area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Urbana apartment is the Fall lease, four bed four bath apartment in Qua... Model at 608 E Chalmers starting at $1,060 with a $0.80 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.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$0.80
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
The Linc Apartments2x22BR,2BA$0.88
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$0.69
106 S GregorySpring lease, four bed two bath apartment in Gr...4BR,2BA$0.69
The Courtyard on Randolph2BR/ 1BA2BR,1BA$1.09
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80

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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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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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.

Best Local Schools in
Urbana, IL

School data provided by Great Schools

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 Element on Main listed at $875.

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

The lowest price for a Cheap One Bedroom Urbana Apartment is $750 at Bailey Student Apartments Available 2026!.

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 $709 at 107 E Springfield.

What is the most affordable Urbana Three Bedroom Apartment?

The best deal on a cheap Urbana Three Bedroom Apartment rental is at Urbana Estates and starts from $1,000.

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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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.