
Cheap Apartments for Rent in Wilmington, IL from $500 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in Wilmington.


Pine Meadows Apartments

Stone Falls

1304 E North St

Larkin Village

The Birches
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.

811 Covey Ln

Country Place-Braidwood

Williams Street Townhomes

Pine Ridge

101 E Bannon St

West Harbor Place
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.
Wilmington, IL Local Guide

How much does it cost to rent an apartment in Wilmington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Wilmington Studio Apartments | $1,592 | $895 | $2,336 |
| Wilmington 1 Bedroom Apartments | $1,936 | $949 | $3,176 |
| Wilmington 2 Bedroom Apartments | $2,346 | $950 | $3,475 |
| Wilmington 3 Bedroom Apartments | $2,832 | $1,309 | $4,275 |
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Wilmington, IL Local Guide
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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. 1304 E North St in the Northfield Square Mall neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $950. Here is today’s list of the most affordable Wilmington apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Stone Falls | One Bedroom, Base Package | 1BR,1BA | $949 |
| 1304 E North St | 2 Bedroom, 1 Bath | 2BR,1BA | $950 |
| 811 Covey Ln | 1x1 | 1BR,1BA | $1,200 |
| Tudor Park Apartments | Two Bedroom One Bathroom | 2BR,1BA | $1,209 |
| Bays Tower Apartments | Studio | 1BR,1BA | $1,250 |
Best Value Apartments for Rent in Wilmington, IL and Nearby
As of January 22, 2026 the best value apartment in the Wilmington area is the $2.07 price per square foot Haydenwood Model at Redwood Lockport in the in the Maple Hill neighborhood starting from $2,777. The second greatest value Wilmington apartment is the 2BR/1.5BA Model at Parkview Estates starting at $1,995 with a $1.66 price per square foot in the Draper Avenue neighborhood. Here is today’s list of the best values for Wilmington apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Redwood Lockport | Haydenwood | 2BR,2BA | $2.07 |
| Parkview Estates | 2BR/1.5BA | 2BR,1.5BA | $1.66 |
| Highland Ridge | C1-2x2 | 2BR,2BA | $2.10 |
| Lincoln Station Rowhomes | C1 | 2BR,2BA | $2.18 |
| Stone Falls | Two Bedroom, Luxury Package | 2BR,1BA | $1.38 |
| Ravine Woods Apartments | 2 Bedroom - North | 2BR,1BA | $1.58 |
| 811 Covey Ln | 1x1 | 1BR,1BA | $1.33 |
| Timber Pointe Apartments | Cypress | 1BR,1BA | $2.27 |
| Tudor Park Apartments | Three Bedroom One Bathroom | 3BR,1BA | $1.64 |
| Willow Run of Crest Hill | 1 bedroom | 1BR,1BA | $2.27 |
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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick Rent Budget Calculator
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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
See the most popular apartments and homes in Wilmington, IL
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 $1,571.
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 $950 at 1304 E North St.
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

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.