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Studio Apartments for Rent in Urbana, IL

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  • /56

    Starting at $1,050 Per Month

    • Studio - 2 Beds

    1905 N Cunningham Ave, Urbana, IL 61802

    Eastland Apartments offer smartly designed and stylishly conceived studio or spacious, traditional one and two bedroom apartments. Eastland Apartments has easy access to I-74 and are conveniently located minutes from the University of Illinois, Carle Hospital, area shopping and downtown Urbana events.•Utilities Included in Rent: Garbage•Pets: Yes – Dog and Cat – 40 Lbs. and Under

    Eastland Apartments

    (217) 207-5680

    1905 N Cunningham Ave, Urbana, IL 61802
  • /35

    Starting at $875 Per Month

    • Studio - 3 Beds

    502 W Main St, Urbana, IL 61801

    We do more than simply rent apartments. From the moment you walk through the front door, you'll feel the comfort and tranquility that makes our residents happy to call Element on Main home. With numerous amenities, meticulously groomed grounds, and a dedicated, onsite management and maintenance staff, Element on Main provides an elevated standard of living. Convenient shopping, gorgeous

    Element on Main

    (217) 863-1840

    502 W Main St, Urbana, IL 61801
  • /35

    Starting at $785 Per Month

    • Studio - 4 Beds

    410 N Lincoln Ave, Urbana, IL 61801

    Yugo Urbana Illinois

    (217) 335-4132

    410 N Lincoln Ave, Urbana, IL 61801
  • /25

    Starting at $1,115 Per Month

    • Studio - 4 Beds

    708 S 6th St, Champaign, IL 61820

    Take your college living experience to the next level with The Dean in Champaign. Conveniently located in the center of Campustown and adjacent to the heart of campus and Greek life, our student apartments near the University of Illinois at Urbana-Champaign are comprised of everything students need and want - including spacious apartments with modern finishes and a range of luxury amenities.

    The Dean Campustown

    (217) 687-1670

    708 S 6th St, Champaign, IL 61820

Why Live in Urbana

Urbana, a lively college town in central Illinois with a population of 38,000, forms the eastern part of the Champaign-Urbana community. The city is closely tied to the University of Illinois Urbana-Champaign, which is renowned for its engineering, business, social science, and computer science programs. Urbana High School is also highly rated, making the area appealing for families. The housing market features a mix of late 19th-century homes, 1970s and 1980s subdivisions, and newly built areas, with a median home value of about $198,000. The city’s residential areas are popular among university employees, hospital staff, and young families. Urbana offers a variety of things to do, including visiting Meadowbrook Park with its large playground and sculpture garden, and Carle Park, which features a bronze statue of Abraham Lincoln. The University of Illinois Arboretum provides a botanical garden experience. Downtown Urbana is home to local stores and restaurants, including the Common Ground Food Co-op and Schnucks supermarket. The city hosts several music festivals, such as the Pygmalion Music Festival and the Audiofeed Music Festival, and has venues like the Canopy Club and Rose Bowl Tavern. Urbana is well-connected by Interstate 74 and Route 150, and public transportation is available through the Champaign-Urbana Mass Transit District. The University of Illinois Willard Airport is about 8 miles away, and long-distance travel options include the Champaign-Urbana Amtrak station.

Frequently Asked Questions

How much does it cost to rent a home in Urbana, IL?
The median rent for a home in Urbana, IL is $1,495 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Urbana, IL?
To comfortably afford the median rent in Urbana, IL, a household needs to earn roughly $59,800 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 $1,495 per month in Urbana, IL, renters typically need to show $4,485 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 Urbana, IL?
In Urbana, IL, the price-to-rent ratio is 12.3, 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 in Urbana, IL

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$1,495
Median Single Family Home Rent
$1,595
Median Townhouse Rent
$1,495
Median Condo Rent
$1,158
How to Rent a Home