Cheap Apartments for Rent in Algonquin, IL from $700 (14 Rentals)

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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39 Surrey Dr
Studio to 3 Bedroom Apartments

39 Surrey Dr

51 Surrey DrElgin, IL 60123
  • Utilities Included

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When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Algonquin, IL Local Guide

Cheapest Neighborhoods for Apartments in Algonquin, IL

Pricing Updated: 12/13/2025

Current apartment rentals in the Algonquin, IL area range in price from $1,185 to $22,397 with an overall median price of $15,831. The three Algonquin neighborhoods with the lowest median rent pricing are Square Barn Road School Campus at $1,575, Creek's Crossing at $1,185, and Willoughby Farms at $1,400. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Algonquin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Square Barn Road School Campus$1,890$1,57512
Creek's Crossing$12,704$1,18530
Willoughby Farms$12,704$1,40024
Arrowhead$12,800$1,64033
High Hill Farms$12,800$1,64027
Alta Vista$22,397$1,18510
Gaslight Terrace North$22,397$1,18518
Grand Reserve$22,397$1,64015
Waterford of Algonquin$22,397$1,18511

Cheapest Available Algonquin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Algonquin, IL is a 1 Bed unit found at Blackhawk Apartment Homes in the Beacon Pointe neighborhood priced from $1,395. 200 S Lincoln in the Waterford of Algonquin neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,400. Here is today’s list of the most affordable Algonquin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Blackhawk Apartment HomesOne Bedroom - 711 sqft1BR,1BA$1,395
200 S Lincoln1BD/1BA1BR,1BA$1,400
Wing Park Residencewp-1bs1BR,1BA$1,500
Eden Prairie Apartments2 Bed 1 Bath A Level 32BR,1BA$1,500
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550

Best Value Apartments for Rent in Algonquin, IL and Nearby

As of December 13, 2025 the best value apartment in the Algonquin area is the $1.31 price per square foot Four Bedroom Model at Princeton West Townhomes in the in the Beacon Pointe neighborhood starting from $3,400. The second greatest value Algonquin apartment is the Florence Model at Conservancy at Gilberts starting at $3,100 with a $1.80 price per square foot in the Square Barn Road School Campus neighborhood. Here is today’s list of the best values for Algonquin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Princeton West TownhomesFour Bedroom4BR,5BA$1.31
Conservancy at GilbertsFlorence3BR,2BA$1.80
Enclave Crystal Lake Townhomes and ApartmentsTH-A2BR,2.5BA$1.83
Redwood Crystal LakeWillowood2BR,2BA$1.88
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
WoodcreekApt B2BR,2BA$1.55
Residence of Fairway GreensCB121.5 Two Bed One and One half bath2BR,1.5BA$1.81
Darlington Court Apartments2 Bedroom/1.5 Bath2BR,1.5BA$1.75
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
Eden Prairie Apartments2 Bed 1 Bath A Renovated Level 22BR,1BA$1.95

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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Best Local Schools in
Algonquin, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Algonquin, IL Rentals by Map

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Getting Around Algonquin, IL

Walk Score®

49 / 100

Car-Dependent

Most errands require a car

Bike Score®

56 / 100

Bikeable

Some bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Algonquin Apartments

What is the price of a cheap apartment in Algonquin?

The cheapest apartment in Algonquin is Blackhawk Apartment Homes which is listed at $1,395, while the average apartment in Algonquin costs $15,831.

What types of apartments are the cheapest in Algonquin?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 8 regular apartments in Algonquin that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Algonquin?

Cheap apartments in Algonquin have an average cost of $703 which is $15,128 cheaper than the average rent for all rentals in Algonquin.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.