Cheap Homes for Rent in Forest Lake, IL from $1,700 (7 Rentals)

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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 Woodlands Apartment Homes in the South Vernon Hills neighborhood priced from $1,225. Heritage Green Apartments in the Central Vernon Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,245. Here is today’s list of the most affordable Forest Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Woodlands Apartment Homes0BR/1.0BAStudio,1BA$1,225
Heritage Green Apartments1 BR/1BA1BR,1BA$1,245
Lakeside Village Apartments0 BED / 1.0 BATH, 340 SQ FT - RENOVATEDStudio,1BA$1,250

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

As of November 17, 2025 the best value apartment in the Forest Lake area is the $1.64 price per square foot (D1r) 3 Bed, 2 Bath Model at Albion on Lake Cook in the in the Cherrybrook Village neighborhood starting from $2,195. The second greatest value Forest Lake apartment is the 2 Bedroom 1 Bath (984 sq ft) Model at Emerald Pointe Apartments starting at $1,759 with a $1.79 price per square foot in the South 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 Cook(D1r) 3 Bed, 2 Bath3BR,2BA$1.64
Emerald Pointe Apartments2 Bedroom 1 Bath (984 sq ft)2BR,1BA$1.79
Clover Ridge East ApartmentsBerkshire1BR,1BA$2.26
Cardinal Square - Building C1 Bedroom, 1 Bath1BR,1BA$2.26
ArrowheadFalls2BR,1BA$2.27
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$2.26
Mandalane1A1BR,1BA$2.11

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Forest Lake, IL Rentals by Map

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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 $1,225 to $16,077. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Forest Lake ranging from $1,750 to $12,500.

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 $1,750 to $12,500 with an average monthly rent of $3,506.

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.

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.