Cheap Apartments for Rent in Forest Lake, IL from $1,000 (31 Rentals)

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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.

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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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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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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

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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Showing Results 1-31, 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 1 Bed unit found at Heritage Green Apartments in the Central Vernon Hills neighborhood priced from $1,275. Park Butterfield Apartments in the South Vernon Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,419. Here is today’s list of the most affordable Forest Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Heritage Green Apartments1 BR/1BA1BR,1BA$1,275
Park Butterfield Apartments1 Bedroom Floor Plan A11BR,1BA$1,419
The Clayson1 Bedroom1BR,1BA$1,430
Mandalane1A1BR,1BA$1,476
Albion on NorthwestOak (A)1BR,1BA$1,500
Lakeside Village Apartments1 BED / 1.0 BATH, 760 SQ FT - RENOVATED1BR,1BA$1,535
The Gates of Deer Grove Apartment HomesOne Bedroom - 740 sqft1BR,1BA$1,585
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$1,587
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$1,600
Emerald Pointe Apartments1 Bedroom 1 Bath (714 sq ft)1BR,1BA$1,608

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

As of February 06, 2026 the best value apartment in the Forest Lake area is the $1.86 price per square foot D1 - 3 Bed, 2 Bath Model at Albion on Lake Cook in the in the Cherrybrook Village neighborhood starting from $2,500. The second greatest value Forest Lake apartment is the 2BR/1.0BA Model at Morris Station starting at $2,215 with a $2.11 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 CookD1 - 3 Bed, 2 Bath3BR,2BA$1.86
Morris Station2BR/1.0BA2BR,1BA$2.11
The Landings of Lake Zurich1 Bdrm/1 Bath1BR,1BA$2.17
Cardinal Square - Building C1 Bedroom, 1 Bath1BR,1BA$2.12
Lakeside Village Apartments1 BED / 1.0 BATH, 760 SQ FT - RENOVATED1BR,1BA$2.02
Heritage Green Apartments1 BR/1BA1BR,1BA$1.70
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.12
Arrowhead ApartmentsA21BR,1BA$2.23
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$2.24
The Clayson1 Bedroom1BR,1BA$2.10

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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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.

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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 $1,422.

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 $1,556 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 Wheatlands Apartments and starts from $2,440.

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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.