
Apartments for Rent in Urbana, IL Under $500 (26 Rentals)


The Atrium

1002 W Clark St

908 W Stoughton St

705MAI

308GRE
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.

Hunsinger Apartments

809 W Stoughton

105 N Busey Ave

1105 W Main

506 W Elm

Urbana Commons
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.

1110 W Stoughton St

905 W Oregon

102 N Lincoln Ave

Total Monthly Price
506 E. White Champaign

The Mansion

1012 S 1st St
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.

622 W Healey St

Smith Apartments @ 201 East Armory

The Gardens at 304 E Clark

59JOH

305JOH

Smith Apartments @ 1004 South Locust
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.

Parker Glen II

706 S Locust St
Urbana, IL Local Guide

How much does it cost to rent an apartment in Urbana?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Urbana Studio Apartments Under $500 | $1,524 | $650 | $2,470 |
| Urbana 1 Bedroom Apartments Under $500 | $1,304 | $533 | $2,047 |
| Urbana 2 Bedroom Apartments Under $500 | $1,382 | $450 | $2,828 |
| Urbana 3 Bedroom Apartments Under $500 | $1,496 | $714 | $2,900 |
| Urbana 4 Bedroom Apartments Under $500 | $1,478 | $637 | $3,800 |
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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.
Best Local Schools in Urbana, IL
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Urbana
How much are Studio apartments in Urbana?
There are currently 100 Studio Apartments in Urbana with rent ranges from $650 to $2,470 with an average price of $1,524.
What is the current price range for One Bedroom Urbana Apartments for rent?
Today's rental pricing for One Bedroom Apartments in Urbana ranges from $533 to $2,047 with an average monthly rent of $1,304.
What does renting a Two Bedroom Apartment in Urbana cost?
The monthly rent prices of Two Bedroom Apartments currently available in Urbana range from $450 to $2,828. Today's average rental price for Two Bedrooms here is $1,382.
How expensive are Urbana Three Bedroom Apartments?
There are currently 135 Three Bedroom Apartments listings available in Urbana on ApartmentHomeLiving.com. The pricing ranges from $714 to $2,900 - averaging $1,496 for the location.
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

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.

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.