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

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Algonquin, IL Local Guide

Cheapest Neighborhoods for Apartments in Algonquin, IL

Pricing Updated: 07/30/2025

Current apartment rentals in the Algonquin, IL area range in price from $1,185 to $4,460 with an overall median price of $2,938. The three Algonquin neighborhoods with the lowest median rent pricing are Waterford of Algonquin at $1,185, Gaslight Terrace North at $1,185, and Alta Vista at $1,185. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Algonquin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Waterford of Algonquin$1,640$1,18513
Gaslight Terrace North$2,350$1,18511
Alta Vista$2,500$1,18510
Arrowhead$2,737$1,53720
Creek's Crossing$3,046$1,18518
Willoughby Farms$3,046$1,40012
High Hill Farms$3,164$1,53714
Grand Reserve$3,980$1,63410
Square Barn Road School Campus$3,980$1,5884

Cheapest Available Algonquin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Algonquin, IL is a 1 Bed unit found at The Church Street Apartments in the Park Place neighborhood priced from $1,300. Blackhawk Apartment Homes in the Beacon Pointe neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,335. Here is today’s list of the most affordable Algonquin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Church Street Apartments1 Bedroom1BR,1BA$1,300
Blackhawk Apartment HomesOne Bedroom - 598 sqft1BR,1BA$1,335
39 Surrey Dr39 Surrey2BR,1BA$1,400
200 S Lincoln1BD/1BA1BR,1BA$1,400
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550

Best Value Apartments for Rent in Algonquin, IL and Nearby

As of July 30, 2025 the best value apartment in the Algonquin area is the $1.11 price per square foot 2 Bedroom Model at The Church Street Apartments in the in the Park Place neighborhood starting from $2,000. The second greatest value Algonquin apartment is the C1- Lower Model at 1900 at Canterfield Apartment Homes starting at $2,472 with a $1.85 price per square foot in the West Ridge Village 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.
The Church Street Apartments2 Bedroom2BR,2BA$1.11
1900 at Canterfield Apartment HomesC1- Lower3BR,2BA$1.85
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
Riverwalk on MainBallard2BR,2BA$2.07
Residence of Fairway GreensCB121.5 Two Bed One and One half bath2BR,1BA$1.90
Crystal Lake Apartments2 Bedroom Townhome with Firepl2BR,1BA$1.96
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
39 Surrey Dr39 Surrey2BR,1BA$1.65
Eden Prairie Apartments2 Bed 1 Bath A Renovated2BR,1BA$1.95
Randall VillageThe Monet1BR,1BA$1.97

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Best Local Schools in
Algonquin, IL

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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 The Church Street Apartments which is listed at $1,300, while the average apartment in Algonquin costs $2,938.

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 10 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 $610 which is $2,328 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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.