Cheap Apartments for Rent in Algonquin, IL from $700 (16 Rentals)

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

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Algonquin, IL Local Guide

Cheapest Neighborhoods for Apartments in Algonquin, IL

Pricing Updated: 09/13/2025

Current apartment rentals in the Algonquin, IL area range in price from $1,185 to $11,291 with an overall median price of $6,603. The three Algonquin neighborhoods with the lowest median rent pricing are Square Barn Road School Campus at $1,557, Arrowhead at $1,320, and Creek's Crossing 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
Square Barn Road School Campus$2,004$1,5579
Arrowhead$2,920$1,32031
Creek's Crossing$3,030$1,18533
Willoughby Farms$3,030$1,40028
High Hill Farms$3,297$1,55025
Waterford of Algonquin$11,286$1,18516
Alta Vista$11,288$1,18514
Gaslight Terrace North$11,288$1,18519
Grand Reserve$11,288$1,55716

Cheapest Available Algonquin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Algonquin, IL is a 2 Beds unit found at 39 Surrey Dr in the West Ridge Village 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
39 Surrey Dr39 Surrey2BR,1BA$1,400
200 S Lincoln1BD/1BA1BR,1BA$1,400
Blackhawk Apartment HomesOne Bedroom - 723 sqft1BR,1BA$1,470
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550
Springs at Three OaksSGO | Studio Grand OverlookStudio,1BA$1,616

Best Value Apartments for Rent in Algonquin, IL and Nearby

As of September 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 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
Conservancy at GilbertsAccera2BR,2.5BA$1.84
18 Madison St, Unit Upper Unit18 Madison St2BR,1BA$1.50
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
Residence of Fairway GreensCB121.5 Two Bed One and One half bath2BR,1BA$1.76
Darlington Court Apartments2 Bedroom/1.5 Bath2BR,1.5BA$1.66
The Cornell Luxury Apartments1 bedroom1BR,1BA$1.76
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
39 Surrey Dr39 Surrey2BR,1BA$1.65

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Best Local Schools in
Algonquin, IL

School data provided by Great Schools

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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 $6,603.

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 $447 which is $6,156 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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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.

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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.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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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.