5612 S Illinois Rte 31
Crystal LakeIL60014
Cheap Homes for Rent near Island Lake, IL from $900 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Island Lake.
101 S Lily Lake Rd
McHenryIL60051
4312 W Shamrock Ln
McHenryIL60050
340 Cary Algonquin Rd
CaryIL60013
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.
208 S Main St
WaucondaIL60084
3929 Main St
McHenryIL60050
3607 Waukegan Rd
McHenryIL60050
32427 N Mackinac Ln
McHenryIL60051
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.
1010 S Osage Dr
McHenryIL60051
Showing Results 1-9, Page 1 of 1
Island Lake, IL Local Guide
Welcome sign by Mark Goebel is licensed under CC BY 2.0
How much does it cost to rent a home in Island Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Island Lake 2 Bedroom Homes for Rent | $2,301 | $1,675 | $3,197 |
| Island Lake 3 Bedroom Homes for Rent | $2,643 | $1,395 | $3,900 |
| Island Lake 4 Bedroom Homes for Rent | $3,591 | $2,500 | $4,800 |
Browse Top Homes for Rent in Island Lake
Explore Island Lake
Island Lake, IL Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Island Lake Apartments for Rent and Nearby
The cheapest available apartment rental in Island Lake, IL is a 1 Bed unit found at McHenry Commons in the Lincoln Hills neighborhood priced from $576. Wauconda Park Apartments in the Liberty Lakes - Freedom Series neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. Here is today’s list of the most affordable Island Lake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| McHenry Commons | Sugar Maple - 30% AMI | 1BR,1BA | $576 |
| Wauconda Park Apartments | 1 Bed / 1 Bath | 1BR,1BA | $1,200 |
| Fawn Ridge Apartments | Valley View | 1BR,1BA | $1,220 |
Best Value Apartments for Rent in Island Lake, IL and Nearby
As of July 10, 2026 the best value apartment in the Island Lake area is the $1.86 price per square foot TH-A Model at Enclave Crystal Lake Townhomes and Apartments in the in the Park Place neighborhood starting from $3,125. The second greatest value Island Lake apartment is the Champion Single Wide Model at Oakbrook Estates- Senior 55+ Community starting at $1,500 with a $1.25 price per square foot in the Fox Trails neighborhood. Here is today’s list of the best values for Island Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Enclave Crystal Lake Townhomes and Apartments | TH-A | 2BR,2.5BA | $1.86 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.25 |
| Skyridge Club Apartments | Pinnacle II | 2BR,2BA | $1.84 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.82 |
| Stone Edge Apartments | 2 Bed 2 Bath | 2BR,2BA | $1.36 |
| The Church Street Apartments | 1 Bedroom | 1BR,1BA | $1.60 |
| Rosewood Round Lake | 2 Bedroom | 2BR,1BA | $1.32 |
| Moore Court Apartments | 1BR/1BA DEN | 1BR,1BA | $1.72 |
| McHenry Commons | Sugar Maple - 60% AMI | 1BR,1BA | $1.70 |
| Fawn Ridge Apartments | Valley View | 1BR,1BA | $1.81 |
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 Article
Real 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.
Let everyone know!
Do you know the Island Lake area?
If you’re an expert on all things Island Lake, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Island Lake, IL Rentals by Map
See the most popular apartments and homes in Island Lake, IL
Frequently Asked Questions about Island Lake
What type of rentals are currently available in Island Lake?
There are currently 58 Apartments for Rent in Island Lake, IL with pricing that ranges from $576 to $3,540. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Island Lake ranging from $900 to $4,800.
What is the current price range for Rental Homes in Island Lake?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Island Lake ranges from $900 to $4,800 with an average monthly rent of $2,411.
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
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.
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.