Cheap Apartments for Rent in Lincoln, IL from $500 (36 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 1119 6th St

1119 6th St

LincolnIL62656
close
View Me
Plowfield Square
1 to 3 Bedroom Apartments

Plowfield Square

700 Malerich DrLincoln, IL 62656
  • Utilities Inc.
close
View Me
Lincoln Village
1 to 2 Bedroom Apartments

Lincoln Village

1000 N College StLincoln, IL 62656
close
View Me
Rivendell Estates
3 Bedroom Apartments

Rivendell Estates

13 Community DrLincoln, IL 62656
  • Utilities Inc.
close
View Me
2474 N Florian
2 Bedroom Apartments

2474 N Florian

2474 N Florian AveDecatur, IL 62526
  • Utilities Inc.
close
View Me
Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Inc.
Showing Results 1-36, Page 1 of 1

Lincoln, IL Local Guide

Cheapest Available Lincoln Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lincoln, IL is a Studio unit found at Washington Senior Apartments in the Downtown Bloomington neighborhood priced from $515. Stones Crossing Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Washington Senior ApartmentsStudioStudio,1BA$515
Stones Crossing ApartmentsNO DEPOSIT, 299 FIRST MONTHS RENT MOVES YOU IN!!!!1BR,1BA$550
Whispering Pines1 bed Classic1BR,1BA$700
The Hickcox CollectionThe HickoxStudio,1BA$775
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
Safe Harbor Properties1st Floor Level1BR,1BA$845
Butler Place2 Beds, 1 Baths2BR,1BA$850
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$875
West Mound Apartments2 Bedroom 1 Bathroom2BR,1BA$890
Danbury Court ApartmentsOne Bedroom, One Bath (affordable)1BR,1BA$900

Best Value Apartments for Rent in Lincoln, IL and Nearby

As of March 13, 2025 the best value apartment in the Lincoln area is the $1.18 price per square foot 4 bedroom/2 bath/2.5 car garage Model at Rosemary Crossing in the starting from $1,999. The second greatest value Lincoln apartment is the 3BR/ 1BA Loft Model at East Douglas Apartments starting at $1,000 with a $0.83 price per square foot in the Downtown Bloomington neighborhood. Here is today’s list of the best values for Lincoln apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rosemary Crossing4 bedroom/2 bath/2.5 car garage4BR,2BA$1.18
East Douglas Apartments3BR/ 1BA Loft3BR,1BA$0.83
108 Oak Creek Plaza2/1 Vaulted Ceilings2BR,1BA$0.96
Currency Commons Apartments2B2B2BR,2BA$1.10
Grove at Main ApartmentsCaroline2BR,1BA$1.17
West Mound Apartments2 Bedroom 1 Bathroom2BR,1BA$0.98
Butler Place2 Beds, 1 Baths2BR,1BA$1.06
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Safe Harbor Properties1st Floor Level1BR,1BA$1.17
Stones Crossing ApartmentsNO DEPOSIT 399 FIRST MONTHS RENT MOVES YOU IN!!...1BR,1BA$1.07

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 Lincoln, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Lincoln, IL

View MapLincoln, IL Apartments MapView MapLincoln, IL Rental Homes Map

Getting Around Lincoln, IL

Walk Score®

53 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lincoln Apartments

What is the Cheapest Studio apartment in Lincoln?

Currently the most affordable Cheap Studio Apartment in Lincoln is at Washington Senior Apartments listed at $515.

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

The lowest price for a Cheap One Bedroom Lincoln Apartment is $548 at Washington Senior Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lincoln is starting from $800 at Whispering Pines.

What is the most affordable Lincoln Three Bedroom Apartment?

The best deal on a cheap Lincoln Three Bedroom Apartment rental is at East Douglas Apartments and starts from $1,000.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for What to Know About Fees and Fines When Renting article

What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.