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Lincoln, IL Homes for Rent

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  • /21

    Starting at $400 Per Month

    • 1 - 2 Beds

    1455 Castle Manor Dr, Lincoln, IL 62656

    Lincoln Senior Flats is a 55+ community, we do accept household members that are not of that age as long as the Head of household is 55+. Open now! A beautiful community that offers 1 bed and 1 bath floor plan and 2 bed and 2 bath floor plan. We will offer on-site property management and maintenance staff. We are a pet friendly community with wonderful amentities such as a large community room

    Lincoln Senior Flats

    1455 Castle Manor Dr, Lincoln, IL 62656
  • /35

    Starting at $720 Per Month

    • 1 - 3 Beds

    1103 N State St, Lincoln, IL 62656

    Brainard Landings offers a variety of 1-, 2-and 3-bedroom floor plans designed to fit your lifestyle! Our thoughtfully designed apartments offer distinctive open floorplans, fully equipped kitchens, spacious closets with organizers, and private patios or balconies for your enjoyment. Take advantage of outstanding community amenities including a clubhouse with a refreshing swimming pool, fitness

    Brainard Landings

    1103 N State St, Lincoln, IL 62656
  • /6

    $825

    Total Monthly Price

    • 2 Beds
    • 1 Bath
    • 900 Sq Ft
    • Townhouse for Rent

    609 Denver St Unit B, Lincoln, IL 62656

    609 Denver St Unit B, Lincoln, IL 62656
  • /3

    $825

    Total Monthly Price

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

    405 N State St, Lincoln, IL 62656

    Nice 2 bedroom unit move in ready in a good neighborhood.

    405 N State St, Lincoln, IL 62656
  • /3

    $825

    Total Monthly Price

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

    1319 N Mclean St Unit B, Lincoln, IL 62656

    2 bed 1 bath with off street parking. Convenient location.

    1319 N Mclean St Unit B, Lincoln, IL 62656

Why Live in Lincoln

Lincoln, Illinois, a historic Route 66 stop, is a rural city with a population of 13,000. Named for Abraham Lincoln before his presidency, the city features a bustling downtown with a variety of shopping and dining options. Residents often commute to nearby cities like Springfield, Decatur, and Bloomington but enjoy Lincoln's amenities, including locally owned cafes, boutiques, and antique shops. The city is known for its historic homes, with older properties dating back to the early 1900s and newer subdivisions from the 1980s onward. Common architectural styles include ranch-style homes, bungalows, and Craftsmans.

Lincoln offers numerous attractions, such as 14 parks, a golf course, and the Lincoln Park District, which includes a playground, pool, and various sports facilities. Kickapoo Creek Park features 10 miles of trails, while the Lincoln Elks Golf Course provides an 18-hole experience. The Logan County Fairgrounds and Lincoln Speedway host frequent events, and the VIP Lincoln Grand theater offers entertainment in the heart of downtown. The Lincoln Heritage Museum is a notable attraction, displaying presidential artifacts.

The city hosts several annual events, including the Balloons Over 66 hot-air balloon festival and Third Fridays Downtown, featuring live music and vendors. Lincoln Elementary School District 27 and Lincoln Community High School District 404 are highly rated, with additional private school options available. Transportation is convenient with State Routes 10 and 121, Interstate 155, SHOW BUS Public Transportation, and an Amtrak station. Lincoln Memorial Hospital provides local healthcare. The city enjoys a humid continental climate and has lower crime rates compared to state and national averages.

Frequently Asked Questions

How much does it cost to rent a home in Lincoln, IL?
The median rent for a home in Lincoln, IL is $1,312 per month, though prices vary by neighborhood, size, and property type. As of August 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 $52,480 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 $1,312 per month in Lincoln, IL, renters typically need to show $3,936 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 7.9, 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.

Rental Home Trends

Number of Homes for Rent
5
Median Rent
$1,312
Median Single Family Home Rent
$825
Median Townhouse Rent
$1,800
Median Condo Rent
$825
How to Rent a Home