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Tolono, IL Home for Rent

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    $2,250 Per Month

    • 3 Beds
    • 2 Baths
    • 1,262 Sq Ft
    • House for Rent

    405 E Larmon St, Tolono, IL 61880

    Free Application: Apply online at then call to schedule a showing M-F 9a-4p at .Property Highlights: Brand New construction home in Tolono Unit 7 School District featuring 3 bedrooms 2 full bathrooms and 2 car garage ready to move in! Well designed plan with open concept kitchen, dining room and living room. Off of the garage is laundry/mud room. Vinyl Plank

    405 E Larmon St, 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 $1,887 per month, though prices vary by neighborhood, size, and property type. As of July 2026, single-family homes 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 $75,480 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 $1,887 per month in Tolono, IL, renters typically need to show $5,661 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 11.0, 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 Clark, Hill Street East, Parkland Ridge, Cherry Hills and Bolten Field, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,887
Median Single Family Home Rent
$1,888
How to Rent a Home