Cheap Apartments for Rent in Algonquin, IL from $700 (32 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Elgin Tower Lofts
1 to 2 Bedroom Apartments

Elgin Tower Lofts

100 E Chicago StElgin, IL 60120

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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Showing Results 1-32, Page 1 of 1

Algonquin, IL Local Guide

Cheapest Neighborhoods for Apartments in Algonquin, IL

Pricing Updated: 07/12/2026

Current apartment rentals in the Algonquin, IL area range in price from $1,235 to $18,493 with an overall median price of $9,885. The three Algonquin neighborhoods with the lowest median rent pricing are Arrowhead at $1,566, High Hill Farms at $1,566, and Square Barn Road School Campus at $1,600. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Algonquin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Arrowhead$2,474$1,56625
High Hill Farms$2,704$1,56616
Square Barn Road School Campus$3,150$1,60026
Creek's Crossing$3,335$1,23524
Willoughby Farms$3,335$1,40010
Alta Vista$18,493$1,2358
Gaslight Terrace North$18,493$1,23514
Grand Reserve$18,493$1,70011
Waterford of Algonquin$18,493$1,23515

Cheapest Available Algonquin Apartments for Rent

 

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 $1,400. 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
The Church Street Apartments1 Bedroom1BR,1BA$1,400
200 S Lincoln1BD/1BA1BR,1BA$1,400
Eden Prairie Apartments1 Bed 1 Bath Ground Level1BR,1BA$1,415
Blackhawk Apartment HomesOne Bedroom - 723 sqft1BR,1BA$1,425
Darlington Court ApartmentsOne bed One bath1BR,1BA$1,477
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1,500
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550
Wing Park Residencewp-1bs1BR,1BA$1,550
Springs at Three OaksSGO | Studio Grand OverlookStudio,1BA$1,566
The Cornell Luxury Apartments1 bedroom1BR,1BA$1,600

Best Value Apartments for Rent in Algonquin, IL

As of July 12, 2026 the best value apartment in the Algonquin area is the $0.94 price per square foot 1330 Braewood Dr Model at 1330 Braewood Dr, Unit 1 in the in the Waterford of Algonquin neighborhood starting from $1,700. The second greatest value Algonquin apartment is the Capewood Model at Redwood Crystal Lake starting at $3,020 with a $1.86 price per square foot in the Arrowhead 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.
1330 Braewood Dr, Unit 11330 Braewood Dr1BR,1BA$0.94
Redwood Crystal LakeCapewood2BR,2BA$1.86
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.25
WoodcreekApt B2BR,2BA$1.60
Residence of Fairway GreensTwo bed One Bath2BR,1BA$1.88
The Church Street Apartments1 Bedroom1BR,1BA$1.40
Crystal Lake Apartments2 Bedroom Townhome with Firepl2BR,1BA$1.96
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
Blackhawk Apartment HomesOne Bedroom - 723 sqft1BR,1BA$1.99
Eden Prairie Apartments1 Bed 1 Bath Ground Level1BR,1BA$2.07

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Algonquin, IL

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Frequently Asked Questions about Cheap Algonquin Apartments

How much is rent for a Cheap One Bedroom Algonquin Apartment?

The lowest price for a Cheap One Bedroom Algonquin Apartment is $1,400 at The Church Street Apartments.

What is the lowest price for a Cheap Two Bedroom Algonquin Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Algonquin is starting from $1,540 at Eden Prairie Apartments.

What is the most affordable Algonquin Three Bedroom Apartment?

The best deal on a cheap Algonquin Three Bedroom Apartment rental is at Oakbrook Estates- Senior 55+ Community and starts from $1,500.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.