
Cheap Homes for Rent in Downtown Highland Park Neighborhood of Highland Park, IL from $1,600 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Highland Park area of Highland Park.


696 Elm Pl
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.

696 Elm Pl

696 Elm Pl
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.
Downtown Highland Park, Highland Park, IL Local Guide

How much does it cost to rent a home in Downtown Highland Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Highland Park 2 Bedroom Homes for Rent | $2,301 | $2,012 | $2,700 |
| Downtown Highland Park 3 Bedroom Homes for Rent | $3,500 | $3,500 | $3,500 |
| Downtown Highland Park 5 Bedroom Homes for Rent | $5,950 | $5,950 | $5,950 |
| Downtown Highland Park 6 Bedroom Homes for Rent | $12,150 | $5,800 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Downtown Highland Park Neighborhood of Highland Park, IL.
Explore Highland Park
Downtown Highland Park, Highland Park, IL Local Guide
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Best Value Apartments for Rent in Downtown Highland Park, IL
As of March 23, 2026 the best value apartment in the Downtown Highland Park area is the $2.34 price per square foot 2BD, 2BA Model at 318 Walker Ave in the in the Downtown Highland Park neighborhood starting from $2,200. The second greatest value Downtown Highland Park apartment is the V1 - West Model at Albion Highland Park starting at $2,480 with a $3.47 price per square foot in the Briergate Station neighborhood. Here is today’s list of the best values for Downtown Highland Park apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 318 Walker Ave | 2BD, 2BA | 2BR,2BA | $2.34 |
| Albion Highland Park | V1 - West | Studio ,1BA | $3.47 |
| 704 Elm Pl, Unit J06W | 704 Elm Pl | 1BR,1BA | $2.64 |
| 704 Elm Pl, Unit J08P | 704 Elm Pl | Studio ,1BA | $4.24 |
| 696 Elm Pl | 696 Elm Pl | Studio ,1BA | $4.52 |
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 ArticleDon'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.
Pet Friendly LifestyleDowntown Highland Park, Highland Park, IL
Ranked #4
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Best Local Schools in Downtown Highland Park, Highland Park, IL
Indian Trail Elementary School
School data provided by Great Schools
Frequently Asked Questions about Downtown Highland Park
What type of rentals are currently available in Downtown Highland Park?
There are currently 52 Apartments for Rent in Downtown Highland Park, IL with pricing that ranges from $1,695 to $7,460. There are also 16 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Highland Park ranging from $1,695 to $18,500.
What is the current price range for Rental Homes in Downtown Highland Park?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Highland Park ranges from $1,695 to $18,500 with an average monthly rent of $4,630.
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.
Helpful Local Expert Guides

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago
Written by: Nicole Harms
I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago
Written by: Nicole Harms
With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

Best Neighborhoods to Rent in Near Chicago's Top Employers
Written by: Nicole Harms
Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago
Written by: Nicole Harms
From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.
Articles, How-To's, and Tips

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.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.