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Lincoln, IL Condo for Rent

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    $725

    Total Monthly Price

    • 2 Beds
    • 1 Bath
    • 800 Sq Ft
    • Condo for Rent

    1003 N Monroe St Unit 1003, Lincoln, IL 62656

    Very nice apartment 2 BD /1 BA with wood floors, kitchen appliances included and washer and dryer. 1 garage stall included with property. Owner pays trash and sewer. NO PETS.

    1003 N Monroe St Unit 1003, Lincoln, IL 62656

Frequently Asked Questions

How much does it cost to rent a condo in Lincoln, IL?
The median rent for a condo in Lincoln, IL is $950 per month, though prices vary by neighborhood, size, and property type. As of June 2026, single-family homes tend to be the most affordable option while condos and townhouses are currently more expensive.
How much do you need to make to afford rent in Lincoln, IL?
To comfortably afford the median rent in Lincoln, IL, a household needs to earn roughly $80,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,000 per month in Lincoln, IL, renters typically need to show $6,000 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lincoln, IL?
In Lincoln, IL, the price-to-rent ratio is 5.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Condo Rental Trends in Lincoln, IL

Rental Home Trends

Number of Condos for Rent
1
Median Condo Rent
$950
Median 2 Bedroom Condo Rent
$950
How to Rent a Home