Cheap Homes for Rent near Bannockburn, IL from $1,675 (8 Rentals)

How Many Bedrooms?Done
Price OptionsDone
Price Range
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in Bannockburn.

property at 1147 Deerfield Rd
$1,675

Total Monthly Price

Base Rent$1,675

Total Monthly Price$1,675
1 Bedroom, 1 Bath Condo for Rent
Available Now
Affordability

1147 Deerfield Rd, Unit B

1147 Deerfield Rd
DeerfieldIL60015
  • Smoke Free

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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.

Bannockburn, IL Local Guide

Best Value Homes for Rent in Bannockburn, IL and Nearby

As of September 22, 2026 the best value rental home in the Bannockburn area is the $1.93 price per square foot 1161 Gavin Ct Model at 1161 Gavin Ct in the Downtown Lake Forest neighborhood starting from $20,000. The second greatest value Bannockburn rental home is the 1430 Waukegan Rd Model at 1430 Waukegan Rd in the Briergate Station neighborhood starting at $3,200 with a $2.05 price per square foot. Here is today’s list of the best values for Bannockburn homes based on price per square foot:

Home ListingModel NameBed/BathPrice Per Sq.Ft.
1161 Gavin Ct1161 Gavin Ct6BR, 8BA$1.93
1430 Waukegan Rd1430 Waukegan Rd3BR, 3BA$2.05
728 Waukegan Rd728 Waukegan Rd2BR, 2BA$3.80
1147 Deerfield Rd, Unit B1147 Deerfield Rd1BR, 1BA$2.58

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.

Read Article
Decorative image

Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

Read Article
Decorative image

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.

Read Article
Decorative image

Quick Rent Budget Calculator

How much rent can you afford?

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.

decorative image of people with a giant lease agreement

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

Explore Bannockburn, IL Rentals by Map

View Map
Bannockburn, IL Apartments Map
View Map
Bannockburn, IL Rental Homes Map

Frequently Asked Questions about Bannockburn

What type of rentals are currently available in Bannockburn?

There are currently 61 Apartments for Rent in Bannockburn, IL with pricing that ranges from $1,111 to $12,168. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Bannockburn ranging from $1,675 to $20,000.

What is the current price range for Rental Homes in Bannockburn?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Bannockburn ranges from $1,675 to $20,000 with an average monthly rent of $5,020.

How much are larger Three and Four Bedroom Rentals in Bannockburn?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Bannockburn range from $2,455 to $8,051, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,800 to $6,000. Four Bedroom Single-Family rentals are also available starting from $3,900 and Four Bedroom Apartments start at $10,000.

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.

Helpful Local Expert Guides

decorative image for The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago article

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

decorative image for Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible article

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

decorative image for Chicago Relocation 101: Mastering Utilities, Registration, and the CTA article

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Written by: Nicole Harms

Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

decorative image for Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago article

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Written by: Nicole Harms

From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

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 How Commercial-to-Residential Property Conversions Help the Housing Crisis   article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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.