Cheap Apartments for Rent in Forest Lake, IL from $1,000 (46 Rentals)

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

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Albion on Northwest
Rent Specials
$1,533 - $2,413
Total Monthly Price

Total Monthly Price

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$1,533 - $2,413
Total Monthly Price
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1 to 2 Bedroom Apartments Available Now

Albion on Northwest

975 N Sterling AvePalatine, IL 60067
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  • Customer Reviewed
  • Low Income

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Station 250
Rent Specials
$1,716 - $3,651
Total Monthly Price

Total Monthly Price

Base Rent
$1,716 - $3,651
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Studio to 2 Bedroom Apartments Available Now

Station 250

250 Plaza CirMundelein, IL 60060
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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Albion on Lake Cook
Rent Specials
$2,082 - $2,764
Total Monthly Price

Total Monthly Price

Base Rent
$2,082 - $2,764
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1 to 3 Bedroom Apartments Available Now

Albion on Lake Cook

500 E Constitution DrPalatine, IL 60074
Student Living
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  • Customer Reviewed
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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

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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property at 444 Osage Ln

$1,650

2 Bedroom Rentals

Available Now

444 Osage Ln

PalatineIL60074
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Windbrooke Crossing
1 to 2 Bedroom Apartments

Windbrooke Crossing

1160 Windbrooke DrBuffalo Grove, IL 60089
Corporate Housing

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 1-46, 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 Wauconda Park Apartments in the Liberty Lakes - Freedom Series neighborhood priced from $1,200. Heritage Green Apartments in the Central Vernon Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,445. 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
Heritage Green Apartments1 BR/1BA1BR,1BA$1,445
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,451
Lakeside Village Apartments1 BED / 1.0 BATH, 710 SQ FT MID LEVEL1BR,1BA$1,485
The Clayson1 Bedroom1BR,1BA$1,498
Albion on NorthwestOak (A) 1 Bedroom Apartment1BR,1BA$1,533
Arrowhead ApartmentsA11BR,1BA$1,595
Mandalane1A1BR,1BA$1,639
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$1,650
The Gates of Deer Grove Apartment HomesOne Bedroom - 775 sqft1BR,1BA$1,665

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

As of May 07, 2026 the best value apartment in the Forest Lake area is the $1.80 price per square foot 2BR/2.0BA Model at Morris Station in the in the Central Vernon Hills neighborhood starting from $2,451. The second greatest value Forest Lake apartment is the D1 - 3 Bed, 2 Bath Model at Albion on Lake Cook starting at $2,632 with a $1.96 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$1.80
Albion on Lake CookD1 - 3 Bed, 2 Bath3BR,2BA$1.96
The Landings of Lake Zurich2 Bdrm/2 Bath2BR,2BA$2.16
Emerald Pointe Apartments2 Bedroom 1 Bath (984 sq ft)2BR,1BA$1.90
Eastbanks of Lake Zurich1/11BR,1BA$2.08
Pebbleshire ApartmentsOne Bedroom- Laminate1BR,1BA$2.13
Heritage Green Apartments1 BR/1BA1BR,1BA$1.93
Lakeside Village Apartments1 BED / 1.0 BATH, 710 SQ FT MID LEVEL1BR,1BA$2.09
The Clayson1 Bedroom1BR,1BA$2.14
Wauconda Park Apartments1 Bed / 1 Bath1BR,1BA$2.00

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 $1,455.

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 $1,500 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 $2,632.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.