Cheap Apartments for Rent in Rankin, IL from $500 (41 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 Rankin.

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Read Article
close
View Me
Parker Glen
2 to 3 Bedroom Apartments

Parker Glen

2501 N Neil StChampaign, IL 61820
close
View Me
302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
close
View Me
Townway Place
1 to 2 Bedroom Apartments

Townway Place

2730 Townway RdDanville, IL 61832
  • Utilities Included
property at 202 S Lynn St

202 S Lynn St

UrbanaIL61802
close
View Me
Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included
close
View Me
Town Center Apartments
2 to 3 Bedroom Apartments

Town Center Apartments

2413 N Neil StChampaign, IL 61820
  • Utilities Included
Showing Results 1-41, Page 1 of 1

Rankin, IL Local Guide

Cheapest Available Rankin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Rankin, IL is a 3 Beds unit found at Parker Glen priced from $525. Windcrest Apartments in the Downtown Champaign neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $615. Here is today’s list of the most affordable Rankin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen3 Bedroom3BR,2BA$525
Windcrest ApartmentsStudio / 1 BathroomStudio,1BA$615
Brunswick ApartmentsStudioStudio,1BA$625
Country Manor Apartments1BR/1.0BA1BR,1BA$649
The Grove1 Bed 1 Bath1BR,1BA$726
808 N Lincoln Ave1 bed1BR,1BA$795
ONYXThe Cottage2BR,1BA$795
South Pointe CommonsSouth Pointe 3bd/1.5ba Townhouse3BR,1BA$837
Town and CountryDanbury1BR,1BA$845
Devonshire Village1 Bed 1 Bath1BR,1BA$900

Best Value Apartments for Rent in Rankin, IL and Nearby

As of April 27, 2025 the best value apartment in the Rankin area is the $1.15 price per square foot Islander Model at Baytowne Apartments in the starting from $1,890. The second greatest value Rankin apartment is the 2 Bedroom/2.5 bath Model at 200 Vine St starting at $1,675 with a $1.07 price per square foot . Here is today’s list of the best values for Rankin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Baytowne ApartmentsIslander2BR,2.5BA$1.15
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Capstone QuartersThree Bedroom Standar3BR,3BA$0.45
Campus Circle UrbanaD24BR,4BA$0.72
Parker Glen3 Bedroom3BR,2BA$0.41
Falcon Way TownhomesThree Bedroom Townhome3BR,1BA$0.83
Campus OaksFloorplan A - Price per person4BR,2BA$0.60
Aspen CourtThe Sugar Maple2BR,1.5BA$1.10
Country Manor Apartments1BR/1.0BA1BR,1BA$0.76
The Grove1 Bed 1 Bath1BR,1BA$0.97

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 Rankin, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Rankin, IL

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

Getting Around Rankin, IL

Walk Score®

8 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

33 / 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 Rankin Apartments

What is the Cheapest Studio apartment in Rankin?

Currently the most affordable Cheap Studio Apartment in Rankin is at Windcrest Apartments listed at $615.

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

The lowest price for a Cheap One Bedroom Rankin Apartment is $649 at Country Manor Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Rankin is starting from $699 at Country Manor Apartments.

What is the most affordable Rankin Three Bedroom Apartment?

The best deal on a cheap Rankin Three Bedroom Apartment rental is at Parker Glen and starts from $525.

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 Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.