Cheap Apartments for Rent in Wilmington, IL from $500 (39 Rentals)

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

property at 103 S Joliet St

$1,225

Total Monthly Price

Total Monthly Price

Base Rent
$1,225
Total Monthly Price
$1,225

2 Bedroom, 1 Bath Condo for Rent

Available Now

103 S Joliet St, Unit 1

103 S Joliet St
WilmingtonIL60481

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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1304 E North St
1 to 2 Bedroom Apartments

1304 E North St

1304 E North StBradley, IL 60915
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Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
  • Utilities Included

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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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
property at 318 Liberty St

$1,500 - $1,600

1 To 2 Bedroom Rentals

Available Now

318 Liberty St

MorrisIL60450

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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1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

1014 Shagbark RdNew Lenox, IL 60451
  • Utilities Included
Showing Results 1-39, Page 1 of 1

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. 811 Covey Ln has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. 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
811 Covey Ln1x11BR,1BA$1,200
Tudor Park ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,209
Bays Tower ApartmentsStudio1BR,1BA$1,250
The Woodlands of Crest HillStudio 2Studio,1BA$1,289
Willow Run of Crest Hill1 bedroom1BR,1BA$1,359
Mallard Point ApartmentsC1 - Willow2BR,2BA$1,600
24138 - 24158 W Main St24138 W Main St Unit 1022BR,1BA$1,650
The Port1E1BR,1BA$1,675
Reserve at RomeovilleMeadowStudio,1BA$1,694

Best Value Apartments for Rent in Wilmington, IL and Nearby

As of June 23, 2026 the best value apartment in the Wilmington area is the $2.21 price per square foot Willowood Model at Redwood Lockport in the in the Maple Hill neighborhood starting from $3,049. The second greatest value Wilmington apartment is the Two Bedroom, Luxury Package Model at Stone Falls starting at $1,259 with a $1.38 price per square foot in the Sunset Point 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$2.21
Stone FallsTwo Bedroom, Luxury Package2BR,1BA$1.38
Seasons at Plainfield1D1BR,1BA$2.21
811 Covey Ln1x11BR,1BA$1.33
Pheasant Run Apartmentssc2s2BR,1BA$1.49
Sixteen30A11BR,1BA$2.30
Tudor Park ApartmentsThree Bedroom One Bathroom3BR,1BA$1.64
The Port1E1BR,1BA$2.31
Willow Run of Crest Hill1 bedroom1BR,1BA$2.27
605 Bremer St, Unit D605 Bremer St1BR,1BA$1.59

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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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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Wilmington, IL

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Remember the 3 Rules of Real Estate:
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Frequently Asked Questions about Cheap Wilmington Apartments

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

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.