Apartments for Rent in Illinois under $500
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Studio $495Base rent4.0 (8)600 W Mill St, Carbondale, IL 62901Apply online • Pet friendly • In unit laundry
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1 bd $421+Base rent4.5 (10)1035 SOUTH MAIN ST, DECATUR, IL 62521Apply online • Pet friendly • Fitness center
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2 bd $267+3 bd $296+Base rent4.5 (4)2225 North 12Th Street, Quincy, IL 62305Pet friendly • Fitness center • Pool
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5 units availableStudio $500Base rent221 W. Alexander Street, Chicago, IL 60616Apply online • Pet friendly -
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Only 3 units leftStudio $100Base rent244 W. Alexander Street, Chicago, IL 60616Apply online • Pet friendly -
1 bd $389+2 bd $454+Base rent Income restricted2617 J T Coffman Drive #100, Champaign, IL 61822Apply online • Pet friendly -
Ask for PricingIncome restricted4.0 (6)15 E 112Th Pl, Chicago, IL 60628Apply online • In unit laundry • Air conditioner
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Ask for pricing3.5 (3)2020 N. Bissell St., Chicago, IL 60614Pet friendly • In unit laundry • Dishwasher
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Ask for pricing3622 N. Marshfield Ave., Chicago, IL 60613Pet friendly • Dishwasher • Patio/Balcony
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4 bd $440Base rent710 S. Illinois Ave, Carbondale, IL 62901Fitness center • Washer/Dryer • Hardwood Floors
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Ask for pricing3.5 (2)2656-58 W. Iowa St., Chicago, IL 60622Pet friendly • Parking • Dishwasher
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Ask for pricing1727-29 N. Halsted St., Chicago, IL 60614Dishwasher • Air conditioner • Washer/Dryer
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Ask for pricing4.0 (5)1947 N. Cleveland Ave., Chicago, IL 60614Cat friendly • Dishwasher • Hardwood Floors
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Studio $75Base rent5.0 (7)822-26 Wesley, Evanston, IL 60202Pet friendly
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Studio $100Base rentPL 2845 West 24Th Boulevard, Chicago, IL 60623Pet friendly • Air conditioner -
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Studio $16Base rent301 W Beaufort St, Normal, IL 61761Pet friendly -
Ask for pricingIncome restricted278 E. St. Charles Road, Carol Stream, IL 60188
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Studio $159+2 bd $162+3 bd $242+Base rent17745 ROSEWOOD DRIVE, Lansing, IL 60438 -
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4 bd $225+Base rent1233 N. Hoyne Ave., Chicago, IL 60622Cat friendly -
3 bd $1Base rent1545 Willard Avenue, Rockford, IL 61101Pet friendly
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Frequently asked questions
When were prices and availability in Illinois last updated?
Prices and availability in Illinois were last updated on 23 Jul 2026.
What are the best apartments in Illinois?
The best apartments in Illinois are: Matteson Blu, Shoreham and Tides, HIGHPOINT Barrington, Enclave Crystal Lake Townhomes and Apartments and Bristol Station.
What type of rental buildings are in Illinois?
In Illinois 33% of the housing is rented out compared to 67% of homes are owned, according to the most recent Census Bureau estimates. 17% of Illinois's apartments are found in large buildings of 50 units or more, 61% are located in smaller apartment complexes with less than 50 units, and 20% are single-family rentals.
Your search for apartments in Illinois under $500 stops here
Finding apartments for rent in Illinois for less than $500 has never been so easy! At RentCafe nice cheap apartments are just one click away. There are currently 64 available units in Illinois, renting for under $500. On average, $567 can get you 821 Sqft in this area. Be sure to search for the apartment that is best for you. Under “More”, check the amenities that you consider a must-have, and don’t forget to look at the pet policy. Fitness enthusiasts can even check the Fitness Center box. Whether you are looking for studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, you are sure to find one that will make you want to move in right away.
We’ll help you find the best rental near you
Having to compromise on either price or location can turn your “apartments near me under $500” search into a nightmare. At RentCafe we recognize the importance of both. Therefore, we offer a variety of filters that can help you find exactly what you want. Sorting the results by rent, ascending, will make the cheapest units show up first on the list. Try it out! You will find that right now the cheapest apartment under $500 in Illinois goes for $159 per month. If some of the results are outside the area of your choice, you can go to the left side of the screen and draw a radius or a polygon around your location. Now you will only see results that are relevant to you.