Cheap Apartments for Rent in Algonquin, IL from $700 (13 Rentals)

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Search the lowest-cost Apartments available for rent right now in Algonquin.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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: 10/29/2025

Current apartment rentals in the Algonquin, IL area range in price from $1,185 to $18,392 with an overall median price of $11,315. The three Algonquin neighborhoods with the lowest median rent pricing are Square Barn Road School Campus at $1,588, Arrowhead at $1,500, and High Hill Farms at $1,588. 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$1,899$1,5889
Arrowhead$2,397$1,50033
High Hill Farms$2,594$1,58827
Creek's Crossing$10,692$1,18528
Willoughby Farms$10,692$1,40025
Alta Vista$18,392$1,18512
Gaslight Terrace North$18,392$1,18518
Grand Reserve$18,392$1,63414
Waterford of Algonquin$18,392$1,1859

Cheapest Available Algonquin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Algonquin, IL is a 1 Bed unit found at 200 S Lincoln in the Waterford of Algonquin neighborhood priced from $1,400. Blackhawk Apartment Homes in the Beacon Pointe neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,410. Here is today’s list of the most affordable Algonquin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
200 S Lincoln1BD/1BA1BR,1BA$1,400
Blackhawk Apartment HomesOne Bedroom - 711 sqft1BR,1BA$1,410
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550
Randall VillageThe Monet1BR,1BA$1,634
Crystal Lake Apartments1 Bedroom1BR,1BA$1,635

Best Value Apartments for Rent in Algonquin, IL and Nearby

As of October 29, 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 TH-A Model at Enclave Crystal Lake Townhomes and Apartments starting at $3,075 with a $1.83 price per square foot in the Park Place 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
Enclave Crystal Lake Townhomes and ApartmentsTH-A2BR,2.5BA$1.83
Redwood Crystal LakeWillowood2BR,2BA$1.88
Residence of Fairway GreensThree bed Two bath3BR,2BA$1.85
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
Riverwalk on MainBallard2BR,2BA$2.07
Springs at Three Oaks2DC-TG | 2 BR Designer Courtyard with Garage2BR,2BA$2.03
Skyridge Club ApartmentsSkylark2BR,2BA$1.88
Eden Prairie Apartments2 Bed 1 Bath B Renovated Level 22BR,1BA$1.85
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Best Local Schools in
Algonquin, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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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 200 S Lincoln which is listed at $1,400, while the average apartment in Algonquin costs $11,315.

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 2 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 $750 which is $10,565 cheaper than the average rent for all rentals in Algonquin.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.