Cheap Apartments for Rent in Algonquin, IL from $570 (46 Rentals)

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

property at 1343 Cunat Ct

$1,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,150
Total Monthly Price
$1,150

1 Bedroom, 1 Bath Condo for Rent

Available Oct 1

1343 Cunat Ct, Unit 3D

1343 Cunat Ct
Lake In The HillsIL60156

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 1353 Cunat Ct

$1,800

Total Monthly Price

Total Monthly Price

Base Rent
$1,800
Total Monthly Price
$1,800

2 Bedroom, 2 Bath Condo for Rent

Available Sep 1

1353 Cunat Ct

Lake In The HillsIL60156

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Water's Edge
$1,965 - $2,848
Total Monthly Price

Total Monthly Price

Base Rent
$1,965 - $2,848
Total Monthly Price
$1,965 - $2,848
1 to 3 Bedroom Apartments Available Now

Water's Edge

311 Waters Edge DrCrystal Lake, IL 60014
Family Friendly
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  • Smoke Free
property at 103 Capella Ct

$2,200

Total Monthly Price

Total Monthly Price

Base Rent
$2,200
Total Monthly Price
$2,200

2 Bedroom, 2.5 Bath Townhome for Rent

Available Now

103 Capella Ct

Lake In The HillsIL60156
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39 Surrey Dr
Studio to 3 Bedroom Apartments

39 Surrey Dr

51 Surrey DrElgin, IL 60123
  • Utilities Included

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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Elgin Tower Lofts
1 to 2 Bedroom Apartments

Elgin Tower Lofts

100 E Chicago StElgin, IL 60120
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Woodcreek
2 Bedroom Apartments

Woodcreek

11700 Woodcreek EHuntley, IL 60142
  • Utilities Included

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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Showing Results 1-46, Page 1 of 1

Algonquin, IL Local Guide

Cheapest Neighborhoods for Apartments in Algonquin, IL

Pricing Updated: 08/26/2026

Current apartment rentals in the Algonquin, IL area range in price from $570 to $4,600 with an overall median price of $2,196. The three Algonquin neighborhoods with the lowest median rent pricing are Waterford of Algonquin at $1,560, Creek's Crossing at $1,791, and Alta Vista at $1,940. 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$1,560$1,23524
Creek's Crossing$1,791$1,23536
Alta Vista$1,940$5708
Gaslight Terrace North$1,965$57011
Arrowhead$1,994$57025
High Hill Farms$2,012$1,51617
Willoughby Farms$2,233$1,40012
Square Barn Road School Campus$2,575$1,40066
Grand Reserve$2,805$1,85528

Cheapest Available Algonquin Apartments for Rent

 

The cheapest available apartment rental in Algonquin, IL is a 1 Bed unit found at Cary Horizon 62+ Senior Community in the Arrowhead neighborhood priced from $570. Meadowdale Apartments in the Waterford of Algonquin neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,235. Here is today’s list of the most affordable Algonquin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cary Horizon 62+ Senior Community1 Bedroom - 30-60%1BR,1BA$570
Meadowdale Apartments1 Bedroom - 1 Bath 667 sq ft1BR,1BA$1,235
200 S Lincoln1BD/1BA1BR,1BA$1,400
The Church Street Apartments1 Bedroom1BR,1BA$1,400
Eden Prairie Apartments1 Bed 1 Bath Ground Level1BR,1BA$1,425
Darlington Court ApartmentsOne bed One bath1BR,1BA$1,477
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1,500
Springs at Three OaksSGO | Studio Grand OverlookStudio,1BA$1,516
Wing Park Residencewp-1bs1BR,1BA$1,550
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550

Best Value Apartments for Rent in Algonquin, IL

As of August 26, 2026 the best value apartment in the Algonquin area is the $1.88 price per square foot Willowood Model at Redwood Crystal Lake in the in the Arrowhead neighborhood starting from $2,599. The second greatest value Algonquin apartment is the Champion Single Wide Model at Oakbrook Estates- Senior 55+ Community starting at $1,500 with a $1.25 price per square foot in the East Suburban McHenry 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.
Redwood Crystal LakeWillowood2BR,2BA$1.88
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.25
1900 at Canterfield Apartment HomesB4- Upper2BR,2BA$1.89
Residence of Fairway GreensTwo Bed One Bath2BR,1BA$1.88
Cary Horizon 62+ Senior Community2 Bedroom - 60%2BR,1BA$1.56
The Church Street Apartments1 Bedroom1BR,1BA$1.54
2123 Hillside Ter, Unit 22123 Hillside Ter2BR,1BA$1.89
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
Eden Prairie Apartments1 Bed 1 Bath Ground Level1BR,1BA$2.08
Meadowdale Apartments1 Bedroom - 1 Bath 667 sq ft1BR,1BA$1.85

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

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Frequently Asked Questions about Cheap Algonquin Apartments

What is the Cheapest Studio apartment in Algonquin?

Currently the most affordable Cheap Studio Apartment in Algonquin is at Springs at Three Oaks listed at $1,516.

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

The lowest price for a Cheap One Bedroom Algonquin Apartment is $570 at Cary Horizon 62+ Senior Community.

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 $1,445 at Cary Horizon 62+ Senior Community.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.