300 Pauline Ave
Crystal LakeIL60014
Cheap Homes for Rent in Greenwood, IL from $1,200 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Greenwood.
4301 W Shamrock Ln
McHenryIL60050
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.
317 Lake Ave
WoodstockIL60098
4314 W Shamrock Ln
McHenryIL60050
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.
531 Leah Ln, Unit 2A
531 Leah Ln
WoodstockIL60098
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Greenwood, IL Local Guide
Sunrise in field by Claire Y. Martin is licensed under CC BY 2.0
How much does it cost to rent a home in Greenwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Greenwood 2 Bedroom Homes for Rent | $2,105 | $1,500 | $3,197 |
| Greenwood 3 Bedroom Homes for Rent | $2,500 | $2,100 | $3,000 |
| Greenwood 4 Bedroom Homes for Rent | $2,924 | $2,350 | $3,750 |
Browse Top Homes for Rent in Greenwood
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Greenwood, IL Local Guide
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Cheapest Available Greenwood Apartments for Rent and Nearby
The cheapest available apartment rental in Greenwood, IL is a 1 Bed unit found at Northfield Court priced from $1,134. Silver Creek Apartments in the Bull Valley Golf Club neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,149. Here is today’s list of the most affordable Greenwood apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northfield Court | Valley View | 1BR,1BA | $1,134 |
| Silver Creek Apartments | 1 Bedroom | 1BR,1BA | $1,149 |
| Willow Brooke | One Bedroom | 1BR,1BA | $1,280 |
Best Value Apartments for Rent in Greenwood, IL and Nearby
As of April 19, 2026 the best value apartment in the Greenwood area is the $1.47 price per square foot One bedroom/long den Model at The Villas At Patriot Estates in the in the Lincoln Hills neighborhood starting from $1,972. The second greatest value Greenwood apartment is the 2 Beds, 2 baths Model at West Harbor Residences at Reva Bay starting at $1,900 with a $1.52 price per square foot in the Amber Shores neighborhood. Here is today’s list of the best values for Greenwood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Villas At Patriot Estates | One bedroom/long den | 1BR,2.5BA | $1.47 |
| West Harbor Residences at Reva Bay | 2 Beds, 2 baths | 2BR,2BA | $1.52 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.42 |
| Brandy Drive Apartments | Plan A | 3BR,2.5BA | $1.73 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.82 |
| Tuckaway Townhomes | 2 Bedroom Townhome | 2BR,2BA | $1.70 |
| The Paths of Walnut Ridge | 2 Bed/2 Bath Split | 2BR,2BA | $1.69 |
| Patriot Prairie of Woodstock | 2X1 | 2BR,1BA | $1.79 |
| Northfield Court | Summit | 1BR,1BA | $1.62 |
| Silver Creek Apartments | 1 Bedroom | 1BR,1BA | $1.70 |
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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Explore Greenwood, IL Rentals by Map
See the most popular apartments and homes in Greenwood, IL
Frequently Asked Questions about Greenwood
What type of rentals are currently available in Greenwood?
There are currently 39 Apartments for Rent in Greenwood, IL with pricing that ranges from $588 to $3,687. There are also 30 Single Family Homes for rent, Condos, and Townhome rentals currently available in Greenwood ranging from $1,275 to $3,750.
What is the current price range for Rental Homes in Greenwood?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Greenwood ranges from $1,275 to $3,750 with an average monthly rent of $2,217.
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
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.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.