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

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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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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: 01/11/2026

Current apartment rentals in the Algonquin, IL area range in price from $1,235 to $27,996 with an overall median price of $18,208. The three Algonquin neighborhoods with the lowest median rent pricing are Square Barn Road School Campus at $1,575, Creek's Crossing at $1,235, and Willoughby Farms at $1,400. 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$1,900$1,57520
Creek's Crossing$3,138$1,23536
Willoughby Farms$15,567$1,40026
Arrowhead$15,645$1,64047
High Hill Farms$15,645$1,64038
Alta Vista$27,996$1,23511
Gaslight Terrace North$27,996$1,23523
Grand Reserve$27,996$1,64018
Waterford of Algonquin$27,996$1,23514

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. Darlington Court Apartments in the Park Place neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,434. 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
Darlington Court Apartments1 Bedroom/1 Bath1BR,1BA$1,434
Blackhawk Apartment HomesOne Bedroom - 723 sqft1BR,1BA$1,470
Eden Prairie Apartments1 Bed 1 Bath Renovated Ground Level1BR,1BA$1,495
Wing Park Residencewp-1bs1BR,1BA$1,500

Best Value Apartments for Rent in Algonquin, IL and Nearby

As of January 11, 2026 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 $3,172 with a $1.88 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$1.88
Conservancy at GilbertsRome2BR,2.5BA$1.77
Riverwalk on MainBristol2BR,2BA$1.77
Redwood Crystal LakeWillowood2BR,2BA$1.88
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
Highland SpringsOne Bedroom1BR,1BA$1.53
WoodcreekApt B2BR,2BA$1.55
Residence of Fairway Greens2bed one and half bath, basement2BR,1.5BA$1.88
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75

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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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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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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Best Local Schools in
Algonquin, IL

School data provided by Great Schools

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

Explore Algonquin, IL Rentals by Map

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Frequently Asked Questions about Cheap Algonquin Apartments

What is a cheap apartment in Algonquin?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Algonquin is under $1,650.

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 $18,208.

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 16 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 $753 which is $17,455 cheaper than the average rent for all rentals in Algonquin.

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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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!