
Cheap Apartments for Rent in Grayslake, IL from $700 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in Grayslake.


Grays Pointe Apartments

Moore Court Apartments

Royal Oak Condos & Willows of Greys Lake

Mallard Ridge

Grand Oaks

Rosewood Apartments
Grayslake, IL Local Guide

How much does it cost to rent an apartment in Grayslake?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Grayslake 1 Bedroom Apartments | $1,456 | $1,100 | $1,889 |
Grayslake 2 Bedroom Apartments | $1,839 | $1,500 | $2,500 |
Browse Top Apartments in Grayslake
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Grayslake, IL Local Guide
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Cheapest Neighborhoods for Apartments in Grayslake, IL
Pricing Updated: 07/24/2025Current apartment rentals in the Grayslake, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Grayslake Apartments for rent:
Neighborhood | Median Price | Min Price | Available Units |
---|---|---|---|
Wildwood on Gages Lake | $1,935 | $1,300 | 15 |
Cheapest Available Grayslake Apartments for Rent
 Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Grays Pointe Apartments | 2 Bedroom Standard | 2BR,1BA | $1,500 |
Water's Edge Apartments | 2 Bdrm/1 Bath | 2BR,1BA | $1,639 |
Best Value Apartments for Rent in Grayslake, IL
As of July 24, 2025 the best value apartment in the Grayslake area is the $1.56 price per square foot 2 Bedroom Platinum FP Model at Grays Pointe Apartments in the in the Wildwood on Gages Lake neighborhood starting from $1,500. The second greatest value Grayslake apartment is the 2 Bdrm/1 Bath Model at Water's Edge Apartments starting at $1,639 with a $1.73 price per square foot in the Heritage Park neighborhood. Here is today’s list of the best values for Grayslake apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Grays Pointe Apartments | 2 Bedroom Platinum FP | 2BR,1.5BA | $1.56 |
Water's Edge Apartments | 2 Bdrm/1 Bath | 2BR,1BA | $1.73 |
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Best Local Schools in Grayslake, IL
Meadowview School
Grayslake Central High School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Getting Around Grayslake, IL
Walk Score®
44 / 100
Car-Dependent
Most errands require a car
Bike Score®
46 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
18 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Grayslake Apartments
What is the lowest price for a Cheap Two Bedroom Grayslake Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Grayslake is starting from $1,500 at Grays Pointe Apartments.
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.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.