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Apartments Under $500 in Champaign, IL

31 - 49 of 49 Results
4
$384 - 459
PER
ROOM
909 S. Third St.
Champaign, IL
3 - 5 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Covered Parking
Balcony/Deck/Patio
8
$414 - 479
PER
ROOM
908 S. Vine St.
Champaign, IL
1 - 3 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Student
House
8
$424 - 499
PER
ROOM
913 S. Third St.
Champaign, IL
3 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Covered Parking
Dishwasher
20
3D Tour
$495 - 570
Gramercy Park Apartments
2106 W. White Street Champaign, IL
1 BR | Ask for Availability
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
Surface Parking
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
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
4
3D Tour
$440 - 605
PER
ROOM
57 E Chalmers
Champaign, IL
2 - 4 BR | Available Now
Contact
Furnished
Student
Virtual Tour
Air Conditioning
Covered Parking
8
$494
PER
ROOM
305 E. Green
Champaign, IL
3 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Student
Air Conditioning
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
6
$415
507 W Church
Champaign, IL
Studio | Available Now
Contact
Furnished
Air Conditioning
Dishwasher
Downtown
3
$500
PER BED
& UNIT
506-508 W Green St
Champaign, IL
Studio - 1 BR | Available Now
Contact
Heat Included
Dog Friendly
Cat Friendly
Campustown Rentals
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
1
$495
PER
ROOM
201 E Armory
Champaign, IL
3 BR | Available Now
Contact
Furnished
Student
Air Conditioning
Covered Parking
Balcony/Deck/Patio
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
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
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
Contact
Student
31 - 49 of 49 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 49 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 37 one-bedroom apartments under $500 available for rent in Champaign.

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

Rentable.co has 45 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 $19,000.

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: February Rental Information

Welcome to the February 2026 Champaign Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the February 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 February 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 7 15 22 30 <$600 $640 $720 $800 $880 $960 $1,040 $1,120 $1,200 $1,280 $1,360 $1,440 $1,520 >$1,600
This month, the typical cost to rent a one-bedroom apartment in Champaign stands at $1,250, with the majority falling between $590 and $1,630. Out of the 922 one-bedroom apartments currently on the market in Champaign, 12 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
45
25
In February 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 February M/M % Change
Champaign, IL 45 +0.98%
Urbana, IL 26 +0.93%
Rantoul, IL 1 +1.0%

Looking for Apartments Under $500 in Champaign?

Available apartments under $500 178
Top amenities Dishwasher, Furnished, Refrigerator, Trash Removal Included, Range / Oven
Pet friendly 41
Utilities included 16
Furnished 73
2 Bedroom 25
3 Bedroom 19
4 Bedroom 31

Where are Champaign Apartments Under $500?

Top Neighborhoods Campustown rentals, Midtown, Downtown
Campustown Rentals 9
Midtown 2
Downtown 1
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