
Cheap Apartments for Rent in Great Lakes, IL from $700 (32 Rentals)
Search the lowest-cost Apartments available for rent right now in Great Lakes.


Deer Valley Apartments

Terrace Oaks Apartments

The Oaks of Lake Bluff

Forest Pointe Apartments

1435 Hervey Ave

The Woodlands on Green Bay

2417 Sherman Ave
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.

709 S Mcalister Ave

927-941 Broadway Ave

2300 Barrett Ct

1243 Jackson St

615 Sheridan Rd

Sheridan Apartments

502-506 10th St

2413 Sherman Ave
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.

2400 24th Pl

525 W Washington Ave

29123 N Waukegan Rd

1548 Kristan Ave

1911 Sherman Ave

601 Hill St

1123 Broadway Ave

Sheridan Multi-Family Complex
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.

Prairie View Apartments

Whispering Oaks Apartments

1111 Broadway Ave

Forest View Manor

Brookstone & Regency at Cole Park

1117 Broadway Ave

1635 Hervey Ave

Lake Forest Place Senior Apartments
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.
Great Lakes, IL Local Guide

How much does it cost to rent an apartment in Great Lakes?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Great Lakes 1 Bedroom Apartments | $1,883 | $1,350 | $2,042 |
| Great Lakes 2 Bedroom Apartments | $2,237 | $1,650 | $2,696 |
Browse Top Apartments in Great Lakes
See all Apartments in Great LakesExplore Great Lakes
Great Lakes, IL Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Great Lakes Apartments for Rent and Nearby
 | Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Deer Valley Apartments | Two Bedroom | 2BR,2BA | $1,772 |
| Forest Pointe Apartments | A2 | 1BR,1BA | $1,857 |
Best Value Apartments for Rent in Great Lakes, IL and Nearby
As of June 12, 2026 the best value apartment in the Great Lakes area is the $1.69 price per square foot Two Bedroom Model at Deer Valley Apartments in the in the North Center neighborhood starting from $1,772. The second greatest value Great Lakes apartment is the B1 Model at Forest Pointe Apartments starting at $2,696 with a $2.75 price per square foot in the Downtown Lake Forest neighborhood. Here is today’s list of the best values for Great Lakes apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Deer Valley Apartments | Two Bedroom | 2BR,2BA | $1.69 |
| Forest Pointe Apartments | B1 | 2BR,2BA | $2.75 |
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 ArticleReal 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.
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Great Lakes, IL Rentals by Map
See the most popular apartments and homes in Great Lakes, IL
Frequently Asked Questions about Cheap Great Lakes Apartments
What is the lowest price for a Cheap Two Bedroom Great Lakes Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Great Lakes is starting from $1,772 at Deer Valley 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

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.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.