Cheap Apartments for Rent in Grayslake, IL from $700 (23 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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84 W Belvidere Rd
2 Bedroom Apartments

84 W Belvidere Rd

84 W Belvidere RdGrayslake, IL 60030
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Grayslake Apartments
1 Bedroom Apartments

Grayslake Apartments

325-365 Neville DrGrayslake, IL 60030
Senior Living

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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124 E Main St
Studio Apartments

124 E Main St

124 E Main StRound Lake Park, IL 60073
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534 E Washington St
Studio to 1 Bedroom Apartments

534 E Washington St

534 E Washington StRound Lake Park, IL 60073
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206-208 E Main St
1 Bedroom Apartments

206-208 E Main St

206-208 E Main StRound Lake Park, IL 60073
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1122 Cedar Lake
1 Bedroom Apartments

1122 Cedar Lake

1122 Cedar LakeRound Lake Beach, IL 60073
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Lakeside Apartments
1 to 2 Bedroom Apartments

Lakeside Apartments

1355 W Maple AveMundelein, IL 60060
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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.

Grayslake, IL Local Guide

Cheapest Neighborhoods for Apartments in Grayslake, IL

Pricing Updated: 01/22/2026

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
Wildwood on Gages Lake$1,799$1,46515

Cheapest Available Grayslake Apartments for Rent

 

The cheapest available apartment rental in Grayslake, IL is a 1 Bed unit found at Water's Edge Apartments in the Heritage Park neighborhood priced from $1,330. Grand Oaks in the Heritage Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,430. Here is today’s list of the most affordable Grayslake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Water's Edge Apartments1 Bdrm/1 Bath1BR,1BA$1,330
Grand OaksPine1BR,1BA$1,430
Brittany Square1A Bedroom1BR,1BA$1,465
Grays Pointe Apartments2 Bedroom Standard2BR,1BA$1,500
Moore Court Apartments2BR/1BA2BR,1BA$1,565

Best Value Apartments for Rent in Grayslake, IL

As of January 22, 2026 the best value apartment in the Grayslake area is the $1.62 price per square foot Two Bedroom Two Bath Model at The Sanctuary of Lake Villa in the in the Heritage Park neighborhood starting from $1,975. The second greatest value Grayslake apartment is the B4 Model at Savanna Ridge starting at $2,370 with a $2.21 price per square foot in the Wildwood on Gages Lake neighborhood. Here is today’s list of the best values for Grayslake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Sanctuary of Lake VillaTwo Bedroom Two Bath2BR,2BA$1.62
Savanna RidgeB42BR,2BA$2.21
Moore Court Apartments2BR/1BA2BR,1BA$1.58
Grays Pointe Apartments2 Bedroom Platinum2BR,1.5BA$1.56
660 Oriole Ct, Unit 1A660 Oriole Ct2BR,1BA$1.78
Brittany Square1 Bedroom1BR,1BA$1.97
Water's Edge Apartments1 Bdrm/1 Bath1BR,1BA$1.90
Grand OaksPine1BR,1BA$2.13

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

Explore Grayslake, IL Rentals by Map

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Frequently Asked Questions about Cheap Grayslake Apartments

How much is rent for a Cheap One Bedroom Grayslake Apartment?

The lowest price for a Cheap One Bedroom Grayslake Apartment is $1,330 at Water's Edge 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

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.