Cheap Apartments for Rent in Forest Lake, IL from $1,000 (29 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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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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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

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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Showing Results 1-29, 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 $1,245. Lakeside Village Apartments in the Grosse Pointe Village neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,250. 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$1,245
Lakeside Village Apartments0 BED / 1.0 BATH, 340 SQ FT - RENOVATEDStudio,1BA$1,250
Woodlands Apartment Homes1BR/1.0BA1BR,1BA$1,395
The Clayson1 Bedroom1BR,1BA$1,430
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,439
Mandalane1A1BR,1BA$1,498
Albion on NorthwestOak (A)1BR,1BA$1,500
Williams ReserveAspenStudio,1BA$1,517
Clover Ridge East ApartmentsAshbury1BR,1BA$1,582
The Gates of Deer Grove Apartment HomesOne Bedroom - 740 sqft1BR,1BA$1,595

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

As of November 06, 2025 the best value apartment in the Forest Lake area is the $1.83 price per square foot (D1r) 3 Bed, 2 Bath Model at Albion on Lake Cook in the in the Cherrybrook Village neighborhood starting from $2,450. The second greatest value Forest Lake apartment is the 1 Bed 1 Bath + Den Model at HIGHPOINT Barrington starting at $2,200 with a $2.24 price per square foot in the Far Northwest Suburban Cook 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$1.83
HIGHPOINT Barrington1 Bed 1 Bath + Den1BR,1BA$2.24
Clover Ridge East ApartmentsBerkshire1BR,1BA$2.27
Cardinal Square - Building C1 Bedroom, 1 Bath1BR,1BA$2.26
Emerald Pointe Apartments1 Bedroom 1 Bath (785 sq ft)1BR,1BA$2.17
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$2.07
Heritage Green Apartments1 BR/1BA1BR,1BA$1.66
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.23
The Clayson1 Bedroom1BR,1BA$2.04
Mandalane1A1BR,1BA$2.19

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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 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 $1,245 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 $1,548 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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.