
Cheap Apartments for Rent in Great Lakes, IL from $800 (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
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.

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
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.

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
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.

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
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 | $2,038 | $1,515 | $2,294 |
| Cheap Great Lakes 2 Bedroom Apartments | $2,377 | $1,650 | $2,647 |
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. Deer Valley Apartments in the Village of Lake Bluff neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,109. 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 - 101 | 1BR,1BA | $1,125 |
| Deer Valley Apartments | One Bedroom | 1BR,1BA | $2,109 |
| Forest Pointe Apartments | B1 | 2BR,2BA | $2,593 |
Best Value Apartments for Rent in Great Lakes, IL
As of July 27, 2026 the best value apartment in the Great Lakes area is the $2.65 price per square foot B1 Model at Forest Pointe Apartments in the in the Downtown Lake Forest neighborhood starting from $2,593. The second greatest value Great Lakes apartment is the One Bedroom Model at Deer Valley Apartments starting at $2,109 with a $2.91 price per square foot in the Village of Lake Bluff 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. |
|---|---|---|---|
| Forest Pointe Apartments | B1 | 2BR,2BA | $2.65 |
| Deer Valley Apartments | One Bedroom | 1BR,1BA | $2.91 |
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!
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See the most popular apartments and homes in Great Lakes, IL
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.

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.

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.

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.