Updated 1 Hour Ago
Location
506 W Elm St, Urbana, IL 61801, USA
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Property Overview
506 W Elm offers a strong overall rental experience with an 8.2 Zumper expert rating, standout amenities, and a highly convenient location. It also shows solid value, with included utilities, good value-for-money, and plenty of nearby dining, shopping, wellness, and work-from-home friendly features.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
More space- Elementary school nearby
- Dishwasher
Great for
Social life
Floor plans
| August 2027! Two-bedroom one-bathroom apartment in Gradland! Priced per person | 2 bed | 1 bath | 600 sqft | $430 /mo | 1 unit available | ||
| August 2027! Three-bedroom one-bathroom apartment in Gradland! Priced per person | 3 bed | 1 bath | 819 sqft | $375 /mo | 1 unit available |
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Amenities for 506 W Elm
Apartment Amenities
| Air Conditioning | Balcony |
| Living Room Furniture | Patio |
| Three Dressers & Closet Systems | Water |
Appliances
| Dishwasher | Microwave |
| Range | Refrigerator |
Tech
| Internet |
Building
| Fitness Center | Residents Lounge |
| Sewer |
Services
| 24 Hour Emergency Maintenance | Recycling |
| Trash Service |
Neighborhood
| Bus Line Nearby |
Other
| Income Requirement Waived for UIUC Students | Leased Parking |
| Low Admin Fee or Security Deposit – You Choose! | Two Desk Chairs |
| Two Double Beds | Two Dressers & Closet Systems |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Building details
Property details
| Units | 11 |
|---|
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About 506 W Elm
506 W Elm cost $375–$430 per month. A couple amenities for this apartment building include but are not limited to: fitness center and residents lounge. Located at 506 W Elm St, Urbana, IL 61801, USA, 506 W Elm has 2 — 3 bedroom units available. Based on the average rent price of 3 bedrooms in Urbana, renting an apartment at 506 W Elm is 71% cheaper per month.Other apartment buildings in or around Urbana include but are not limited to: 302 S Cedar St, 1002 S 2nd St, 905 W Oregon St, 2605 J T Coffman Dr
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
7.5
/10
Very Good506 W Elm is worth considering and a notable rental in the neighborhood. Residents prioritizing Amenities will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.
Price·6A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
506 W Elm is priced lower than the median price per bedroom for the area. While it may be more affordable, there may also be trade-offs in terms of amenities or quality compared to similar listings nearby. It caters to those seeking cost savings, albeit with some compromises.
Amenities·10A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
506 W Elm stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks, making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
506 W Elm is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 506 W Elm does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
506 W Elm provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.
506 W Elm is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 506 W Elm compares to other nearby properties.
Positives
- More space
- The 3-bedroom is 125 sqft larger than other listings nearby
- Elementary school nearby
- There is an elementary school 0.3 mile away
- Dishwasher
- Dishwasher available in kitchen
- Images Available
- There are at least 10 photos of this address
- Outdoor space
- Easy access to the outdoors
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Rent trends in Urbana
If you decide to upgrade your space, you can expect 2-bedrooms at 506 W Elm to be 61% less than the average for similarly sized apartments in Urbana.
3-bedroom apartments at 506 W Elm cost about 75% less than the average rent price for 3-bedroom apartments in Urbana.
Median rents as of Sep 5 2026.
Urbana
| Month | Median Rent |
|---|---|
| September 2024 | $730 |
| October 2024 | $783 |
| November 2024 | $755 |
| December 2024 | $872 |
| January 2025 | $809 |
| February 2025 | $793 |
| March 2025 | $769 |
| April 2025 | $784 |
| May 2025 | $803 |
| June 2025 | $843 |
| July 2025 | $739 |
| August 2025 | $766 |
| October 2025 | $907 |
| November 2025 | $864 |
| December 2025 | $807 |
| January 2026 | $830 |
| February 2026 | $831 |
| March 2026 | $856 |
| April 2026 | $870 |
| May 2026 | $847 |
| June 2026 | $845 |
| July 2026 | $926 |
| August 2026 | $900 |
| September 2026 | $845 |
Affordability calculator
Can I afford to live at 506 W Elm St?
Bedrooms
Rent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$17,200/yr
With your selected rent-to-income ratio, you'd ideally want to make $17,200 annually to afford this 2-bedrooms monthly rent price of $430.
For more information on rent affordability, visit our rent calculator.
Schools near 506 W Elm
Leal Elementary School
312 w oregon st
urbana, IL, 61801
K-5Public
B-
Urbana Early Childhood Center
2202 e washington st
urbana, IL, 61802
PKPublic
Thomasboro Grade School
201 n phillips st
thomasboro, IL, 61878
PK, K-8Public
C-
Gifford Grade School
po box 70
gifford, IL, 61847
K-8Public
B
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Internet available near 506 W Elm
Neighborhood
Getting around Urbana near 506 W Elm St
Walking
7/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
6/10
This area is accessible to thoroughfares and has ample parking options.
Cycling
8/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.
Transit
5/10
Frequent public transit options are within walking distance.
Points of interest for 506 W Elm St, Urbana
Groceries
8/10
At least one grocery store within a few minutes' walk
Shopping
5/10
Some shops within walking distance
Cafes
5/10
Some cafés within walking distance
Restaurants
6/10
Variety of restaurants within walking distance
Primary schools
9/10
At least one elementary school within a 5-minute walk
High schools
7/10
At least one high school within a 20-minute walk
Nightlife
4/10
Few or no bars within walking distance
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