Cheap Apartments for Rent in Forest Lake, IL from $1,000 (26 Rentals)

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

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Liberty Lake
1 to 3 Bedroom Apartments

Liberty Lake

201 S Buesching RdLake Zurich, IL 60047
  • Utilities Included
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Villas By The Lake
1 to 2 Bedroom Apartments

Villas By The Lake

300 Lakeside DrVernon Hills, IL 60061
  • Utilities Included

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Forest Lake, IL Local Guide

Cheapest Available Forest Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Forest Lake, IL is a Studio unit found at Lakeside Village Apartments in the Grosse Pointe Village neighborhood priced from $1,195. Park Butterfield Apartments in the South Vernon Hills neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,278. Here is today’s list of the most affordable Forest Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lakeside Village Apartments0 BED / 1.0 BATH, 343 SQ FT - MID LEVELStudio,1BA$1,195
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,278
Heritage Green Apartments1 BR/1BA1BR,1BA$1,395
Williams ReserveAspenStudio,1BA$1,517
Albion on NorthwestOak (A)1BR,1BA$1,575
ArrowheadStream1BR,1BA$1,628
Mandalane1A1BR,1BA$1,639
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$1,649
Emerald Pointe Apartments2 Bedroom 1 Bath (954 sq ft)2BR,1BA$1,692
The Gates of Deer Grove Apartment HomesOne Bedroom - 775 sqft1BR,1BA$1,715

Best Value Apartments for Rent in Forest Lake, IL and Nearby

As of September 18, 2025 the best value apartment in the Forest Lake area is the $1.83 price per square foot Newly Renovated (D1r) Model at Albion on Lake Cook in the in the Cherrybrook Village neighborhood starting from $2,450. The second greatest value Forest Lake apartment is the 2/2 Model at Eastbanks of Lake Zurich starting at $2,209 with a $1.76 price per square foot in the Hawthorn Woods Country Club neighborhood. Here is today’s list of the best values for Forest Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Albion on Lake CookNewly Renovated (D1r)3BR,2BA$1.83
Eastbanks of Lake Zurich2/22BR,2BA$1.76
The Oaks Of Vernon HillsElm2BR,2BA$2.27
The Clayson2 Bedrooms2BR,1BA$1.84
ArrowheadFalls2BR,1BA$2.27
Emerald Pointe Apartments1 Bedroom 1 Bath (785 sq ft)1BR,1BA$2.22
Pebbleshire ApartmentsOne Bedroom- Remodeled1BR,1BA$2.20
The Gates of Deer Grove Apartment HomesOne Bedroom - 775 sqft1BR,1BA$2.21
Heritage Green Apartments1 BR/1BA1BR,1BA$1.86
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.20

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

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Frequently Asked Questions about Cheap Forest Lake Apartments

What is the Cheapest Studio apartment in Forest Lake?

Currently the most affordable Cheap Studio Apartment in Forest Lake is at Lakeside Village Apartments listed at $1,195.

How much is rent for a Cheap One Bedroom Forest Lake Apartment?

The lowest price for a Cheap One Bedroom Forest Lake Apartment is $1,395 at Heritage Green Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Forest Lake is starting from $1,623 at Park Butterfield Apartments.

What is the most affordable Forest Lake Three Bedroom Apartment?

The best deal on a cheap Forest Lake Three Bedroom Apartment rental is at Albion on Lake Cook and starts from $2,450.

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.