Cheap Apartments for Rent in Forest Lake, IL from $1,000 (34 Rentals)

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

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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

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.

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Windbrooke Crossing
1 to 2 Bedroom Apartments

Windbrooke Crossing

1160 Windbrooke DrBuffalo Grove, IL 60089
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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 1 Bed unit found at Wauconda Park Apartments in the Liberty Lakes - Freedom Series neighborhood priced from $1,200. Brockway Court Apartments in the Pleasant Hill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,300. Here is today’s list of the most affordable Forest Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wauconda Park Apartments1 bed/1 bath1BR,1BA$1,200
Brockway Court Apartments1x11BR,1BA$1,300
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,363
Lakeside Village Apartments1 BED / 1.0 BATH, 760 SQ FT - RENOVATED1BR,1BA$1,495
Albion on NorthwestOak (A)1BR,1BA$1,600
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$1,618
The Clayson2 Bedrooms2BR,1BA$1,670
The Landings of Lake Zurich1 Bdrm/1 Bath1BR,1BA$1,680
Williams ReserveWillow1BR,1BA$1,684
Clover Ridge East ApartmentsAshbury1BR,1BA$1,697

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

As of June 10, 2025 the best value apartment in the Forest Lake area is the $1.84 price per square foot 2BR/2.0BA Model at Morris Station in the in the Grosse Pointe Village neighborhood starting from $2,495. The second greatest value Forest Lake apartment is the Newly Renovated (D1r) Model at Albion on Lake Cook starting at $2,730 with a $2.04 price per square foot in the Cherrybrook Village 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.
Morris Station2BR/2.0BA2BR,2BA$1.84
Albion on Lake CookNewly Renovated (D1r)3BR,2BA$2.04
Eastbanks of Lake Zurich2/22BR,2BA$1.77
The Gates of Deer Grove Apartment HomesTwo Bedroom 2 Bath - 1,140 sqft2BR,2BA$1.79
Pebbleshire ApartmentsTwo Bedroom- Remodeled2BR,1BA$1.78
The Clayson2 Bedrooms2BR,1BA$1.76
Wauconda Park Apartments2 bed / 1 bath2BR,1BA$1.83
Lakeside Village Apartments1 BED / 1.0 BATH, 760 SQ FT - RENOVATED1BR,1BA$1.97
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.16
Brockway Court Apartments1x11BR,1BA$1.86

Quick Rent Budget Calculator

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

Explore Forest Lake, IL Rentals by Map

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See the most popular apartments and homes in Forest Lake, IL

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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 Park Butterfield Apartments listed at $1,357.

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

The lowest price for a Cheap One Bedroom Forest Lake Apartment is $1,200 at Wauconda Park 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 $1,650 at Wauconda Park 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 $2,730.

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 Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.