Cheap Homes for Rent in Urbana, IL from $700 (30 Rentals)

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

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.

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.

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.

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Urbana, IL Local Guide

Cheapest Available Urbana Apartments for Rent

 

The cheapest available apartment rental in Urbana, IL is a 3 Beds unit found at Parker Glen priced from $525. 207 S Fifth in the Downtown Champaign neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $565. Here is today’s list of the most affordable Urbana apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen3 Bedroom3BR,2BA$525
207 S FifthIMMEDIATE MOVE IN - Individual Lease in a 4x2 U...4BR,2BA$565
Windcrest ApartmentsStudio / 1 BathroomStudio,1BA$615
202 E ChalmersIMMEDIATE MOVE IN - Individual Lease in a 4x3! ...4BR,3BA$670
Clark StreetThe Lewis1BR,1BA$750
804 W IllinoisIndividual leasing - 2x2 apartments across from...2BR,2BA$840
508 W White St2 Bed / 1 Bath2BR,1BA$895
The Courtyard on Randolph2BR/ 1BA2BR,1BA$900
Bailey Student Apartments Available 2025!901 W Springfield - 2/12BR,1BA$900
Town & Country ApartmentsCamden1BR,1BA$923

Best Value Apartments for Rent in Urbana, IL

As of June 17, 2025 the best value apartment in the Urbana area is the $0.40 price per square foot Three Bedroom Standar Model at Capstone Quarters in the in the Campustown IL neighborhood starting from $565. The second greatest value Urbana apartment is the 512 E John St Model at 512 E John St, Unit One and a half starting at $1,317 with a $0.94 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.
Capstone QuartersThree Bedroom Standar3BR,3BA$0.40
512 E John St, Unit One and a half512 E John St3BR,1BA$0.94
Campus Circle UrbanaD24BR,4BA$0.72
202 E ChalmersIMMEDIATE MOVE IN - Individual Lease in a 4x3! ...4BR,3BA$0.61
THE ALCOVE @ SECOND & JOHN2 Bedroom 1 Bath with Loft2BR,1BA$0.90
Campus OaksFloorplan A - Price per person4BR,2BA$0.60
702 W Green St, Unit 3702 W Green St3BR,1BA$1.00
Lancaster Apartments3 x 13BR,1BA$0.79
207 S FifthIMMEDIATE MOVE IN - Individual Lease in a 4x2 U...4BR,2BA$0.59
410 E. Green St by Bankier Apartments3BD/2BA3BR,2BA$0.87

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Frequently Asked Questions about Urbana

What type of rentals are currently available in Urbana?

There are currently 571 Apartments for Rent in Urbana, IL with pricing that ranges from $525 to $3,360. There are also 84 Single Family Homes for rent, Condos, and Townhome rentals currently available in Urbana ranging from $775 to $8,500.

What is the current price range for Rental Homes in Urbana?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Urbana ranges from $775 to $8,500 with an average monthly rent of $2,972.

How much are larger Three and Four Bedroom Rentals in Urbana?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Urbana range from $875 to $2,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,050 to $5,500. Four Bedroom Single-Family rentals are also available starting from $1,594 and Four Bedroom Apartments start at $780.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.