Cheap Homes for Rent in Vermilion, IL from $500 (13 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

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

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.

property at 610 S 5th St

610 S 5th St

Terre HauteIN47807

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.

Vermilion, IL Local Guide

Cheapest Available Vermilion Apartments for Rent and Nearby

 

The cheapest available apartment rental in Vermilion, IL is a 2 Beds unit found at Historic Walnut Square in the Downtown Terre Haute neighborhood priced from $417. Lakewood Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here is today’s list of the most affordable Vermilion apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Historic Walnut SquareTwo Bedroom2BR,1BA$417
Lakewood ApartmentsStudioStudio,1BA$500
The Millennium Apartments3 Bedroom3BR,1BA$505
BrookhavenStudioStudio,1BA$525
Union Pointe1 Bedroom1BR,2BA$550

Best Value Apartments for Rent in Vermilion, IL and Nearby

As of August 03, 2025 the best value apartment in the Vermilion area is the $0.41 price per square foot 3 Bedroom Model at The Millennium Apartments in the starting from $505. The second greatest value Vermilion apartment is the 2x2 Model at Arbors at Honey Creek starting at $610 with a $0.57 price per square foot in the Downtown Terre Haute neighborhood. Here is today’s list of the best values for Vermilion apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Millennium Apartments3 Bedroom3BR,1BA$0.41
Arbors at Honey Creek2x22BR,2BA$0.57
Park Place1639, 3 bed3BR,1BA$1.15
Highland Terrace2 Bed 1 Bath Washer/Dryer Connection2BR,1BA$1.19
ANTHONY SQUARE SENIOR LIVING2 Bed 1 Bath2BR,1BA$1.00
Historic Walnut SquareTwo Bedroom2BR,1BA$0.51
Ashton Apartments1BR/1.5BA1BR,1.5BA$0.88
Sycamore Place Apartments2.1 C2BR,1BA$0.80
Arthur Ave Apartments1x11BR,1BA$0.97
Union Pointe1 Bedroom1BR,2BA$0.92

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Vermilion

What type of rentals are currently available in Vermilion?

There are currently 39 Apartments for Rent in Vermilion, IL with pricing that ranges from $351 to $2,518. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Vermilion ranging from $550 to $2,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Vermilion ranges from $550 to $2,000 with an average monthly rent of $1,093.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Vermilion range from $706 to $2,518, while Three Bedroom Homes, Condos, and Townhomes for rent range from $800 to $1,550. Four Bedroom Single-Family rentals are also available starting from $1,250 and Four Bedroom Apartments start at $804.

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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

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

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.