6175 W Grand Ave
GurneeIL60031
Cheap Homes for Rent in Grayslake, IL from $1,300 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Grayslake.
1506 Spring Brook Ct
Round Lake BeachIL60073
1147 N Red Oak Cir
Round Lake BeachIL60073
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.
2843 Falling Waters Dr
LindenhurstIL60046
422 Meadow Green Ln
Round Lake BeachIL60073
1288 N Red Oak Cir
Round Lake BeachIL60073
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 1-6, Page 1 of 1
Grayslake, IL Local Guide
Beige horse on ranch by Dmitri Yakovlev is licensed under Internal
How much does it cost to rent a home in Grayslake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Grayslake 2 Bedroom Homes for Rent | $2,182 | $1,750 | $2,500 |
| Grayslake 3 Bedroom Homes for Rent | $2,669 | $1,995 | $3,300 |
| Grayslake 4 Bedroom Homes for Rent | $3,530 | $2,200 | $6,000 |
| Grayslake 5 Bedroom Homes for Rent | $3,500 | $3,500 | $3,500 |
Browse Top Homes for Rent in Grayslake
Explore Grayslake
Grayslake, IL Local Guide
- Grayslake Neighborhoods
- Nearby Cities
- ZIP codes
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- School Districts
Cheapest Neighborhoods for Apartments in Grayslake, IL
Pricing Updated: 04/28/2026Current 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 | $2,189 | $1,300 | 9 |
Cheapest Available Grayslake Apartments for Rent and Nearby
The cheapest available apartment rental in Grayslake, IL is a 2 Beds unit found at Rosewood Round Lake priced from $1,244. 534 E Washington St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,325. Here is today’s list of the most affordable Grayslake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Rosewood Round Lake | 2 Bedroom | 2BR,1BA | $1,244 |
| 534 E Washington St | One bed/One bath | 1BR,1BA | $1,325 |
| Water's Edge Apartments | 1 Bdrm/1 Bath | 1BR,1BA | $1,365 |
Best Value Apartments for Rent in Grayslake, IL and Nearby
As of April 28, 2026 the best value apartment in the Grayslake area is the $1.56 price per square foot 2 Bedroom Platinum 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 Bedroom Model at Rosewood Round Lake starting at $1,244 with a $1.32 price per square foot . 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 | 2BR,1.5BA | $1.56 |
| Rosewood Round Lake | 2 Bedroom | 2BR,1BA | $1.32 |
| Brittany Square | 1 Bedroom | 1BR,1BA | $1.97 |
| Water's Edge Apartments | 1 Bdrm/1 Bath | 1BR,1BA | $1.95 |
| 534 E Washington St | One bed/One bath | 1BR,1BA | $1.89 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
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 ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick Rent Budget Calculator
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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Best Local Schools in Grayslake, IL
Woodview School
Grayslake Central Consolidated School District 46
Public School - Grades K-5 (459)
7 out of 10
Grayslake Central High School
Grayslake Chsd 127 School District
Public School - Grades 9-12 (1419)
9 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Grayslake, IL Rentals by Map
See the most popular apartments and homes in Grayslake, IL
Frequently Asked Questions about Grayslake
What type of rentals are currently available in Grayslake?
There are currently 46 Apartments for Rent in Grayslake, IL with pricing that ranges from $1,100 to $2,255. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grayslake ranging from $1,300 to $6,000.
What is the current price range for Rental Homes in Grayslake?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Grayslake ranges from $1,300 to $6,000 with an average monthly rent of $2,438.
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
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.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
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.