3

Tolono, IL Homes for Rent

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  • /14

    $1,195 Per Month

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

    305 N Elizabeth St Unit 3, Tolono, IL 61880

    Welcome to the newly remodeled 2Bed/1Bath unit in the charming town of Tolono, IL. This apartment offers two spacious bedrooms and a full bathroom, perfect for those who value comfort and convenience. The unit is beautifully finished with luxury vinyl plank flooring, adding a touch of elegance to your living space. The apartment also comes with on-site parking, ensuring your vehicle is always

    305 N Elizabeth St Unit 3, Tolono, IL 61880
  • /31

    $1,195 Per Month

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

    305 N Elizabeth St Unit 1, Tolono, IL 61880

    Welcome to the newly remodeled 2Bed/1Bath unit in the charming town of Tolono, IL. This apartment offers two spacious bedrooms and a full bathroom, perfect for those who value comfort and convenience. The unit is beautifully finished with luxury vinyl plank flooring, adding a touch of elegance to your living space. The apartment also comes with on-site parking, ensuring your vehicle is always

    305 N Elizabeth St Unit 1, Tolono, IL 61880
  • /31

    $1,195 Per Month

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

    305 N Elizabeth St Unit 1, Tolono, IL 61880

    Welcome to the newly remodeled 2Bed/1Bath unit in the charming town of Tolono, IL. This apartment offers two spacious bedrooms and a full bathroom, perfect for those who value comfort and convenience. The unit is beautifully finished with luxury vinyl plank flooring, adding a touch of elegance to your living space. The apartment also comes with on-site parking, ensuring your vehicle is always

    305 N Elizabeth St Unit 1, Tolono, IL 61880

Why Live in Tolono

Tolono, Illinois, is a small community located about 9 miles south of Champaign, offering a rural setting with easy access to city amenities. With a population of approximately 3,500, Tolono has a rich railroad history, including a notable whistlestop speech by Abraham Lincoln in 1861. The village features a mix of historic Victorian and American Foursquare homes, as well as ranch-style, split-level, and contemporary houses built from the 1950s to the early 2000s. Downtown Tolono, centered around Main and Holden streets, includes small shops, the Tolono Public Library District, and dining options like TraXside Pub & Sports Lounge and Monical's Pizza. For more extensive shopping, residents often visit nearby Savoy, just 5 miles north. Tolono's parks, such as West Side Park and East Side Park, provide recreational spaces with playgrounds, tennis courts, and fields for various sports. The community hosts events like Tolono Fun Days! in late June, featuring carnival rides, parades, and unique activities like the Betty Hardin Memorial Cow Drop. The village is accessible via U.S. Route 45 and Interstate 57, with the University of Illinois - Willard Airport located 5 miles north, offering flights to major hubs like Chicago O'Hare and Dallas Fort Worth.

Frequently Asked Questions

How much does it cost to rent a home in Tolono, IL?
The median rent for a home in Tolono, IL is $1,195 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Tolono, IL?
To comfortably afford the median rent in Tolono, IL, a household needs to earn roughly $47,800 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 $1,195 per month in Tolono, IL, renters typically need to show $3,585 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 Tolono, IL?
In Tolono, IL, the price-to-rent ratio is 16.0, 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.
What neighborhoods in Tolono, IL are best for renting a home?
The best neighborhood for renting in Tolono, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Bolten Field, West Haven, Clark, Hill Street East and Southeast Urbana, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$1,195
Median Condo Rent
$1,195
How to Rent a Home