Cheap Apartments for Rent in Grayslake, IL from $700 (33 Rentals)

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Search the lowest-cost Apartments available for rent right now in Grayslake.

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Savanna Ridge
$1,823 - $2,073
Total Monthly Price

Total Monthly Price

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$1,823 - $2,073
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Aug 14

Savanna Ridge

18400 W IL Route 120Grayslake, IL 60030
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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Grayslake Apartments
1 Bedroom Apartments

Grayslake Apartments

325-365 Neville DrGrayslake, IL 60030
Senior Living
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239 N Lake St
1 to 2 Bedroom Apartments

239 N Lake St

239 N Lake StGrayslake, IL 60030
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84 W Belvidere Rd
2 Bedroom Apartments

84 W Belvidere Rd

84 W Belvidere RdGrayslake, IL 60030

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Grand Oaks
$1,490 - $2,165
Total Monthly Price

Total Monthly Price

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$1,490 - $2,165
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Aug 10

Grand Oaks

36021-36151 N Grand Oaks CtGurnee, IL 60031
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Lakeside Apartments
1 to 2 Bedroom Apartments

Lakeside Apartments

1355 W Maple AveMundelein, IL 60060
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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.

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Showing Results 1-33, Page 1 of 1

Grayslake, IL Local Guide

Cheapest Neighborhoods for Apartments in Grayslake, IL

Pricing Updated: 07/24/2026

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$2,189$1,4856

Cheapest Available Grayslake Apartments for Rent

 

The cheapest available apartment rental in Grayslake, IL is a 2 Beds unit found at Rosewood Round Lake priced from $1,244. Brittany Square in the Wildwood on Gages Lake neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,485. Here is today’s list of the most affordable Grayslake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rosewood Round Lake2 Bedroom2BR,1BA$1,244
Brittany Square1A Bedroom1BR,1BA$1,485
Grays Pointe Apartments2 Bedroom Standard2BR,1BA$1,500
239 N Lake St2 Beds, 1 Baths2BR,1BA$1,500
Royal Oak Condos & Willows of Greys LakeChestnut2BR,1BA$1,725
Grand OaksWillow Townhome2BR,1BA$1,918
The Sanctuary of Lake VillaTwo Bedroom One Bath2BR,1BA$1,995

Best Value Apartments for Rent in Grayslake, IL

As of July 24, 2026 the best value apartment in the Grayslake area is the $1.72 price per square foot Two Bedroom Two Bath Model at The Sanctuary of Lake Villa in the in the Heritage Park neighborhood starting from $2,100. The second greatest value Grayslake apartment is the Chestnut Model at Royal Oak Condos & Willows of Greys Lake starting at $1,725 with a $1.59 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$1.72
Royal Oak Condos & Willows of Greys LakeChestnut2BR,1.5BA$1.59
Grand OaksWillow Townhome2BR,1.5BA$1.89
Grays Pointe Apartments2 Bedroom Platinum2BR,1.5BA$1.56
Rosewood Round Lake2 Bedroom2BR,1BA$1.32
239 N Lake St2 Beds, 1 Baths2BR,1BA$1.67
325 Neville Dr, Unit 1325 Neville Dr1BR,1BA$1.37
Brittany Square1A Bedroom1BR,1BA$1.98

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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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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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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Grayslake, IL

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Remember the 3 Rules of Real Estate:
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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 $1,485 at Brittany Square.

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 $1,244 at Rosewood Round Lake.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.