Cheap Homes for Rent in Forest Lake, IL from $1,300 (15 Rentals)

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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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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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property at 21599 W Field Ct

21599 W Field Ct

Deer ParkIL60010

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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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 $1,195. Park Butterfield Apartments in the South Vernon Hills neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,358. 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, 343 SQ FT - MID LEVELStudio,1BA$1,195
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,358
Heritage Green Apartments1 BR/1BA1BR,1BA$1,395
Albion on NorthwestOak (A)1BR,1BA$1,500
Mandalane1A1BR,1BA$1,554

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

As of October 03, 2025 the best value apartment in the Forest Lake area is the $1.83 price per square foot Newly Renovated (D1r) 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 2 Bedrooms Model at The Clayson starting at $1,745 with a $1.84 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.
Albion on Lake CookNewly Renovated (D1r)3BR,2BA$1.83
The Clayson2 Bedrooms2BR,1BA$1.84
Cardinal Square - Building C1 Bedroom, 1 Bath1BR,1BA$2.23
Clover Ridge East ApartmentsAshbury1BR,1BA$2.21
Emerald Pointe Apartments1 Bedroom 1 Bath (785 sq ft)1BR,1BA$2.21
Pebbleshire ApartmentsOne Bedroom- Remodeled1BR,1BA$2.20
Williams ReserveMulberry1BR,1BA$2.25
The Gates of Deer Grove Apartment HomesOne Bedroom - 775 sqft1BR,1BA$2.18
Heritage Green Apartments1 BR/1BA1BR,1BA$1.86
Arbor Lakes1 Bedroom Floor Plan A11BR,1BA$2.23

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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 Forest Lake

What type of rentals are currently available in Forest Lake?

There are currently 45 Apartments for Rent in Forest Lake, IL with pricing that ranges from $1,195 to $16,077. There are also 45 Single Family Homes for rent, Condos, and Townhome rentals currently available in Forest Lake ranging from $1,350 to $15,000.

What is the current price range for Rental Homes in Forest Lake?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Forest Lake ranges from $1,350 to $15,000 with an average monthly rent of $3,082.

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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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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.