
Cheap Apartments for Rent in Great Lakes, IL from $1,175 (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

Lake Forest Place Senior Apartments

The Woodlands on Green Bay
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.

2417 Sherman Ave

927-941 Broadway Ave

709 S Mcalister Ave

2300 Barrett Ct

1243 Jackson St

615 Sheridan Rd

Sheridan Apartments

502-506 10th St
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.

2413 Sherman Ave

2400 24th Pl

525 W Washington Ave

29123 N Waukegan Rd

1548 Kristan Ave

1911 Sherman Ave

601 Hill St

1123 Broadway Ave
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.

Sheridan Multi-Family Complex

Prairie View Apartments

Whispering Oaks Apartments

1111 Broadway Ave

FOREST VIEW MANOR

Brookstone & Regency at Cole Park

1117 Broadway Ave

1635 Hervey 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.
Great Lakes, IL Local Guide

How much does it cost to rent an apartment in Great Lakes?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Great Lakes 1 Bedroom Apartments | $1,875 | $1,175 | $2,261 |
| Cheap Great Lakes 2 Bedroom Apartments | $2,267 | $1,625 | $2,619 |
Browse Top Apartments in Great Lakes
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Great Lakes, IL Local Guide
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Cheapest Available Great Lakes Apartments for Rent
 The cheapest available apartment rental in Great Lakes, IL is a 1 Bed unit found at FOREST VIEW MANOR in the North Center neighborhood priced from $1,125. The Oaks of Lake Bluff in the Downtown Lake Forest neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,625. Here is today’s list of the most affordable Great Lakes apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| FOREST VIEW MANOR | FOREST VIEW MANOR - 04-20... | 1BR,1BA | $1,125 |
| The Oaks of Lake Bluff | Two Bedroom | 2BR,1BA | $1,625 |
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1BA | $1,650 |
| Forest Pointe Apartments | A2 | 1BR,1BA | $1,934 |
| Deer Valley Apartments | Two Bedroom | 2BR,2BA | $2,439 |
Best Value Apartments for Rent in Great Lakes, IL
As of September 11, 2026 the best value apartment in the Great Lakes area is the $1.83 price per square foot 2 Bedroom Model at Terrace Oaks Apartments in the in the Downtown Lake Forest neighborhood starting from $1,650. The second greatest value Great Lakes apartment is the Two Bedroom Model at The Oaks of Lake Bluff starting at $1,625 with a $1.81 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. |
|---|---|---|---|
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1.5BA | $1.83 |
| The Oaks of Lake Bluff | Two Bedroom | 2BR,1BA | $1.81 |
| Deer Valley Apartments | One Bedroom | 1BR,1BA | $2.64 |
| Forest Pointe Apartments | A2 | 1BR,1BA | $2.70 |
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 ArticleNavigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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
How much is rent for a Cheap One Bedroom Great Lakes Apartment?
The lowest price for a Cheap One Bedroom Great Lakes Apartment is $1,125 at FOREST VIEW MANOR.
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 $1,625 at The Oaks of Lake Bluff.
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

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.

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.