2 E Dundee Quarter Dr
PalatineIL60074
Cheap Homes for Rent in Forest Lake, IL from $1,500 (10 Rentals)
Search the lowest-cost Homes available for rent right now in Forest Lake.
15B E Dundee Quarter Dr
PalatineIL60074
444 Osage Ln
PalatineIL60074
1935 N Hicks Rd
PalatineIL60074
2014 N Rand Rd
PalatineIL60074
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.
260 E Court of Shorewood
Vernon HillsIL60061
820 N Lakeside Dr
Vernon HillsIL60061
856 E Capri Dr
PalatineIL60074
2215 Nichols Rd
Arlington HeightsIL60004
1077 Courtland Dr
Buffalo GroveIL60089
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.
Showing Results 1-10, Page 1 of 1
Forest Lake, IL Local Guide
Corn at the farmers market by Gemma Billings is licensed under CC BY 2.0
How much does it cost to rent a home in Forest Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Forest Lake 2 Bedroom Homes for Rent | $2,068 | $1,650 | $2,700 |
| Forest Lake 3 Bedroom Homes for Rent | $3,032 | $1,995 | $3,500 |
| Forest Lake 4 Bedroom Homes for Rent | $5,050 | $2,675 | $8,400 |
| Forest Lake 5 Bedroom Homes for Rent | $6,200 | $6,200 | $6,200 |
Browse Top Homes for Rent in Forest Lake
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Forest Lake, IL Local Guide
- Nearby Cities
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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. Park Butterfield Apartments in the South Vernon Hills neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,430. Here is today’s list of the most affordable Forest Lake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Wauconda Park Apartments | 1 Bed / 1 Bath | 1BR,1BA | $1,200 |
| Park Butterfield Apartments | Studio Floor Plan S1 | Studio,1BA | $1,430 |
| Heritage Green Apartments | 1 BR/1BA | 1BR,1BA | $1,445 |
Best Value Apartments for Rent in Forest Lake, IL and Nearby
As of May 31, 2026 the best value apartment in the Forest Lake area is the $1.78 price per square foot 2BR/2.0BA Model at Morris Station in the in the Central Vernon Hills neighborhood starting from $2,422. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Morris Station | 2BR/2.0BA | 2BR,2BA | $1.78 |
| Albion on Lake Cook | D1 - 3 Bed, 2 Bath | 3BR,2BA | $1.96 |
| Eastbanks of Lake Zurich | 2/2 | 2BR,2BA | $1.91 |
| Pebbleshire Apartments | One Bedroom- Laminate | 1BR,1BA | $2.13 |
| The Gates of Deer Grove Apartment Homes | One Bedroom - 775 sqft | 1BR,1BA | $2.13 |
| Heritage Green Apartments | 1 BR/1BA | 1BR,1BA | $1.93 |
| Arbor Lakes | 1 Bedroom Floor Plan A1 | 1BR,1BA | $2.20 |
| Arrowhead Apartments | A1 | 1BR,1BA | $2.24 |
| Lakeside Village Apartments | 1 BED / 1.0 BATH, 710 SQ FT MID LEVEL | 1BR,1BA | $2.09 |
| Wauconda Park Apartments | 1 Bed / 1 Bath | 1BR,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.
Read Article
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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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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Explore Forest Lake, IL Rentals by Map
See the most popular apartments and homes in Forest Lake, IL
Frequently Asked Questions about Forest Lake
What type of rentals are currently available in Forest Lake?
There are currently 48 Apartments for Rent in Forest Lake, IL with pricing that ranges from $1,200 to $10,879. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Forest Lake ranging from $1,595 to $8,400.
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 $1,595 to $8,400 with an average monthly rent of $3,629.
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
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
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.
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.
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.