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Apartments Under $500 in Champaign, IL

31 - 47 of 47 Results
6
3D Tour
$390 - 485
PER
ROOM
506 S Fourth
Champaign, IL
4 BR | Available Now
Contact
Furnished
Virtual Tour
Air Conditioning
Covered Parking
Balcony/Deck/Patio
7
3D Tour
$482 - 568
PER
ROOM
105 S Wright
Champaign, IL
4 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
Covered Parking
8
$359 - 469
PER
ROOM
311 E. Daniel St.
Champaign, IL
3 - 4 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Student
Air Conditioning
9
$474
PER
ROOM
903 S. Fourth St.
Champaign, IL
2 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Dishwasher
9
$500
Boutique Vintage
703 W Park Champaign, IL
Studio | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
6
$415
507 W Church
Champaign, IL
Studio | Available Now
Contact
Furnished
Air Conditioning
Dishwasher
Downtown
6
3D Tour
$400 - 605
PER
ROOM
52 E Armory
Champaign, IL
2 - 4 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
Covered Parking
8
3D Tour
$499 - 588
PER
ROOM
608 E Chalmers
Champaign, IL
4 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
Covered Parking
1
$495
PER
ROOM
201 E Armory
Champaign, IL
3 BR | Available Now
Contact
Furnished
Student
Air Conditioning
Covered Parking
Balcony/Deck/Patio
8
3D Tour
$297
PER
BED
Woodcrest Apartments
3.8
701 Hollycrest Dr Champaign, IL
2 BR | Available Now
Contact
Cat Friendly
Virtual Tour
Air Conditioning
Balcony/Deck/Patio
Dishwasher
6
3D Tour
$405 - 475
PER
ROOM
106-108 E Healey
Champaign, IL
2 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
5
3D Tour
$325 - 412
PER
ROOM
48 E John
Champaign, IL
4 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
Balcony/Deck/Patio
11
$499
PER
ROOM
Castle On Locust
1007 S. Locust St Champaign, IL
4 BR | Available Now
Contact
Furnished
Student
Covered Parking
In Unit Laundry
Dishwasher
8
3D Tour
$480 - 592
PER
ROOM
408 E Springfield
1.0
Champaign, IL
4 BR | Available Now
Contact
Furnished
Virtual Tour
Air Conditioning
In Unit Laundry
Balcony/Deck/Patio
10
$450 - 650
609 S Randolph
Champaign, IL
1 BR | Available Now
Contact
Furnished
Covered Parking
In Unit Laundry
1
$440 - 475
108 S 4th St
Champaign, IL
Studio - 1 BR | Available Now
Contact
Furnished
Air Conditioning
1
$220 - 257
PER
ROOM
307 W Columbia
Champaign, IL
3 BR | Available Now
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Student
31 - 47 of 47 Results
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  3. Apartments Under $500
Frequently Asked Questions

How many apartments under $500 are available in Champaign, IL on Rentable.co?

There are 47 apartments under $500 in Champaign currently available for rent on Rentable.co.

How many studio apartments under $500 are available in Champaign?

Rentable.co has 7 studio apartments under $500 available for rent in Champaign.

How many one-bedroom apartments under $500 are available in Champaign?

Rentable.co has 32 one-bedroom apartments under $500 available for rent in Champaign.

How many two-bedroom apartments under $500 are available in Champaign?

Rentable.co has 44 two-bedroom apartments under $500 available for rent in Champaign.

Can I afford a apartment under $500 in Champaign, IL?

To comfortably afford a apartment under $500 in Champaign based on average rent prices, a household would need an annual income of $18,000.

Which neighborhoods have the most apartments under $500 for rent in Champaign, IL?

  1. Campustown Rentals
  2. Midtown
  3. Downtown

Apartments Under $500 in Champaign, IL: October Rental Information

Welcome to the October 2026 Champaign Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the October 2026 key findings and figures for the Champaign rental landscape.

Our experts analyze the inventory trends for apartments under $500 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Champaign and surrounding areas. This summary also provides insight into available features and amenities, as well as location options for apartments under $500 in Champaign.

With the October 2026 Champaign Apartment Report, renters can get a clear overview of the rental market, making it easier to find the perfect apartment that meets their budget and lifestyle. Whether you are a student, young professional, or someone looking for affordable housing options in Champaign, this report serves as a valuable resource to help you make an informed decision.
0 5 10 15 20 <$600 $640 $720 $800 $880 $960 $1,040 $1,120 $1,200 $1,280 $1,360 $1,440 $1,520 $1,600 $1,680
This month, the typical cost to rent a one-bedroom apartment in Champaign stands at $1,300, with the majority falling between $580 and $1,650. Out of the 1,015 one-bedroom apartments currently on the market in Champaign, 7 are priced below $500, accounting for 1% of the total available one-bedroom units in Champaign.

Available Apartments Under $500: Champaign vs. Surrounding Areas

Champaign, IL
Urbana, IL
43
19
In October 2026, there are a variety of affordable housing options available in Champaign, IL and the surrounding cities. The chart above displays the number of apartments under $500 currently listed on Rentable in Champaign, IL and its neighboring cities. Champaign has the highest number of available apartments, representing 65 units of rental inventory in the metro area. Additionally, the chart reveals the availability of affordable apartments in Savoy, Urbana, Villa Grove, Rantoul, Monticello, Pesotum, Mahomet, Tuscola, and St Joseph, providing renters with diverse options to choose from in the Champaign area.

Apartments Under $500 Now vs. Last Month: Champaign and Surrounding Areas

City Apartments Under $500 in October M/M % Change
Champaign, IL 44 +1.01%
Urbana, IL 19 +1.07%
Rantoul, IL 2 +0.8%

Looking for Apartments Under $500 in Champaign?

Available apartments under $500 167
Top amenities Dishwasher, Furnished, Refrigerator, Trash Removal Included, Range / Oven
Pet friendly 41
Utilities included 16
Furnished 72
2 Bedroom 26
3 Bedroom 22
4 Bedroom 30

Where are Champaign Apartments Under $500?

Top Neighborhoods Campustown rentals, Midtown, Downtown
Campustown Rentals 7
Midtown 2
Downtown 1
Browse Champaign Apartments
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