Cheap Apartments for Rent in Wilmington, IL from $500 (51 Rentals)

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

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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Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
  • 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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101 E Bannon St
1 to 2 Bedroom Apartments

101 E Bannon St

101 E Bannon StDwight, IL 60420
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West Harbor Place
2 to 3 Bedroom Apartments

West Harbor Place

703 W Harbor StKankakee, IL 60901
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1304 E North St
1 to 2 Bedroom Apartments

1304 E North St

1304 E North StBradley, IL 60915
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811 Covey Ln
1 Bedroom Apartments

811 Covey Ln

811 Covey LnCoal City, IL 60416
property at 318 Liberty St

$1,450 - $1,550

1 To 2 Bedroom Rentals

Available Now

318 Liberty St

MorrisIL60450

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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1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

1014 Shagbark RdNew Lenox, IL 60451
  • Utilities Included
property at 616 Vine St

$1,795

3 Bedroom Rentals

Available Now

616 Vine St

JolietIL60435

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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Showing Results 1-50, Page 1 of 2

Wilmington, IL Local Guide

Cheapest Available Wilmington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Wilmington, IL is a 1 Bed unit found at Stone Falls in the Sunset Point neighborhood priced from $949. Tudor Park Apartments in the Downtown neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,209. Here is today’s list of the most affordable Wilmington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Stone FallsOne Bedroom, Base Package1BR,1BA$949
Tudor Park ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,209
Bays Tower ApartmentsStudio1BR,1BA$1,250
Willow Run of Crest Hill1 bedroom1BR,1BA$1,359
The Woodlands of Crest HillCypress Renovated1BR,1BA$1,379
Arbors at Hickory CreekAspen1BR,1BA$1,629
24138 - 24158 W Main St24138 W Main St Unit 1022BR,1BA$1,650
HighPoint Community ApartmentsMaple 11BR,1BA$1,660
Remington Apartment HomesTranquility1BR,1BA$1,730

Best Value Apartments for Rent in Wilmington, IL and Nearby

As of August 08, 2026 the best value apartment in the Wilmington area is the $2.04 price per square foot Willowood Model at Redwood Lockport in the in the Maple Hill neighborhood starting from $2,813. The second greatest value Wilmington apartment is the B5G Model at The Bluffs starting at $2,640 with a $2.08 price per square foot in the Rockdale Junction neighborhood. Here is today’s list of the best values for Wilmington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Redwood LockportWillowood2BR,2BA$2.04
The BluffsB5G2BR,2BA$2.08
Village Place ApartmentsCypress2BR,2BA$2.06
Stone FallsTwo Bedroom, Luxury Package2BR,1BA$1.38
Remington Apartment HomesTranquility1BR,1BA$2.16
Tudor Park ApartmentsThree Bedroom One Bathroom3BR,1BA$1.64
Arbors at Hickory CreekAspen1BR,1BA$2.05
Willow Run of Crest Hill1 bedroom1BR,1BA$2.27
The Woodlands of Crest HillCypress Renovated1BR,1BA$2.31
605 Bremer St, Unit A605 Bremer St1BR,1BA$1.65

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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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.

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Best Local Schools in
Wilmington, IL

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

Explore Wilmington, IL Rentals by Map

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Frequently Asked Questions about Cheap Wilmington Apartments

What is the Cheapest Studio apartment in Wilmington?

Currently the most affordable Cheap Studio Apartment in Wilmington is at Springs at Lockport listed at $1,767.

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

The lowest price for a Cheap One Bedroom Wilmington Apartment is $949 at Stone Falls.

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

Today's best deal for a Cheap Two Bedroom Apartment in Wilmington is starting from $1,209 at Tudor Park Apartments.

What is the most affordable Wilmington Three Bedroom Apartment?

The best deal on a cheap Wilmington Three Bedroom Apartment rental is at Tudor Park Apartments and starts from $1,309.

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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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.

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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.