Cheap Apartments for Rent in Forest Lake, IL from $1,000 (33 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
Liberty Lake
1 to 3 Bedroom Apartments

Liberty Lake

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

Villas By The Lake

300 Lakeside DrVernon Hills, IL 60061
  • Utilities Included

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.

Read Article
Showing Results 1-33, Page 1 of 1

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 $1,250. Heritage Green Apartments in the Central Vernon Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,275. 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, 340 SQ FT - RENOVATEDStudio,1BA$1,250
Heritage Green Apartments1 BR/1BA1BR,1BA$1,275
Park Butterfield Apartments1 Bedroom Floor Plan A11BR,1BA$1,394
Mandalane1A1BR,1BA$1,429
Albion on NorthwestOak (A)1BR,1BA$1,500
The Gates of Deer Grove Apartment HomesOne Bedroom - 740 sqft1BR,1BA$1,515
The Clayson1 Bedroom1BR,1BA$1,565
ArrowheadStream1BR,1BA$1,599
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$1,600
Williams ReserveBirch1BR,1BA$1,607

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

As of December 22, 2025 the best value apartment in the Forest Lake area is the $1.71 price per square foot (D1r) 3 Bed, 2 Bath Model at Albion on Lake Cook in the in the Cherrybrook Village neighborhood starting from $2,295. The second greatest value Forest Lake apartment is the 2BR/2.0BA Model at Morris Station starting at $2,395 with a $1.83 price per square foot in the Central Vernon Hills 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 Cook(D1r) 3 Bed, 2 Bath3BR,2BA$1.71
Morris Station2BR/2.0BA2BR,2BA$1.83
The Landings of Lake Zurich1 Bdrm/1 Bath1BR,1BA$2.14
Cardinal Square - Building C1 Bedroom, 1 Bath1BR,1BA$2.12
Clover Ridge East ApartmentsAshbury1BR,1BA$2.21
Heritage Green Apartments1 BR/1BA1BR,1BA$1.70
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.20
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$2.24
The Clayson1 Bedroom1BR,1BA$2.24
Mandalane1A1BR,1BA$2.09

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

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.

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 Forest Lake, IL Rentals by Map

Decorative image of map

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

View Map
Forest Lake, IL Apartments Map
View Map
Forest Lake, IL Rental Homes Map

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 $1,250.

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

The lowest price for a Cheap One Bedroom Forest Lake Apartment is $1,275 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 $1,598 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 The Clayson and starts from $2,170.

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 Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

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.