Cheap Apartments for Rent in Wilmington, IL from $500 (12 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

close
View Me
Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
  • Utilities Included
close
View Me
101 E Bannon St
1 to 2 Bedroom Apartments

101 E Bannon St

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

West Harbor Place

703 W Harbor StKankakee, IL 60901

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

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 ListingModel NameBed/BathPriced From
Stone FallsOne Bedroom, Base Package1BR,1BA$949
1304 E North St2 Bedroom, 1 Bath2BR,1BA$950
811 Covey Ln1x11BR,1BA$1,200
Tudor Park ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,209
Bays Tower ApartmentsStudio1BR,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Redwood LockportHaydenwood2BR,2BA$2.07
Parkview Estates2BR/1.5BA2BR,1.5BA$1.66
Highland RidgeC1-2x22BR,2BA$2.10
Lincoln Station RowhomesC12BR,2BA$2.18
Stone FallsTwo Bedroom, Luxury Package2BR,1BA$1.38
Ravine Woods Apartments2 Bedroom - North2BR,1BA$1.58
811 Covey Ln1x11BR,1BA$1.33
Timber Pointe ApartmentsCypress1BR,1BA$2.27
Tudor Park ApartmentsThree Bedroom One Bathroom3BR,1BA$1.64
Willow Run of Crest Hill1 bedroom1BR,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 Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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

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

Explore Wilmington, IL Rentals by Map

View Map
Wilmington, IL Apartments Map
View Map
Wilmington, IL Rental Homes Map

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

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

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.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.