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506 W Elm

Urbana, IL 61801 - Champaign County

Apartment

1 beds

1 baths

866 sqft

About 506 W Elm

Welcome to 506 W Elm, presented by Smile Fairlawn Student Living. We have several units available for lease. For more information and to schedule a showing, please contact us. 500 Feet, Dishwasher, Refrigerator, Microwave, Water & Sewer, Trash Service, Recycling, Internet, Living Room Furniture, Dining Furniture, Range/Stove, 1 Double Bed, 1 Closet/Dresser System, 1 Desk Chair, Busline Nearby, 24-Hour Emergency Maintenance, Leased Parking, Income Requirement Waived for UIUC Students, Low admin fee or security deposit - you choose, Pet-Friendly & Access to The Flamingo (Smile's Fitness Center/Study Rooms/Resident Lounge).

RentalSource last checked: July 17, 2025 at 12:54 PM ET

Last updated: July 16, 2025 at 4:16 PM ET

Listed by: Smile Fairlawn Student Living, (217) 402-7947

Property Summary

Property Type:	Apartment
Rental Fee:	$1,005
Bedrooms:	1 beds
Bathrooms:	1 baths

Size:	866 sqft
Pet Friendly:	No
Listing Status:	Active
ID:	79821270

Property Amenities

• Dishwasher

• High-Speed Internet

• Microwave

• Refrigerator

• Walk-in Closets

Community Features

• Fitness Center

• Reserved Parking

Additional Details

Apartment for rent in Urbana for $1,005 with 1 bed, 1 bath, 866 sqft and located at 506 W Elm in Urbana, IL 61801. The rental price of $1,005 is 4.3% ($41) higher than the average rent of $964 for a 1 bedroom apartment in Urbana, IL and 15.0% ($177) lower than the average rent of $1,182 for a 1 bedroom apartment in Champaign County. This apartment is in the Urbana 116 School District and the nearest schools are Leal Elementary School, Urbana Middle School and Urbana High School. 506 W Elm was advertised by Smile Fairlawn Student Living 6+ months ago, last updated yesterday at 4:16 PM ET and last checked today at 12:54 PM ET.

Affordability Calculator

Can I afford to live at 506 W Elm?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

10% Recommended 50%

Move the slider to select the percentage of your monthly income you're comfortable spending on rent. Typically, it's advised to spend about 30% or less on housing.

Recommended income

$40,200 /year

With your chosen rent-to-income ratio, an annual income of $40,200 is recommended to comfortably afford this 1-bedroom rental priced at $1,005 per month.

For more information on rent affordability, visit our rent calculator or rent vs. buy calculator.

Apartment for rent

$1,005

Rent Affordability Calculator

Interested in 506 W Elm?

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Property managed by:

Smile Fairlawn Student Living
(217) 402-7947

Avoid rental scams - Situations involving wire transfers or a landlord who can't meet you in person can be red flags.