
Cheap Homes for Rent in Island Lake, IL from $1,200 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Island Lake.


4314 W Shamrock Ln

4302 W Shamrock Ln
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.

228 S Church St

423 Grand Blvd

443 N Main St
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.
Island Lake, IL Local Guide

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 | $2,026 | $1,400 | $3,000 |
| Island Lake 3 Bedroom Homes for Rent | $2,806 | $2,495 | $3,200 |
| Island Lake 4 Bedroom Homes for Rent | $3,116 | $2,800 | $3,300 |
| Island Lake 5 Bedroom Homes for Rent | $2,220 | $2,220 | $2,220 |
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Island Lake, IL Local Guide
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Cheapest Available Island Lake Apartments for Rent and Nearby
 The cheapest available apartment rental in Island Lake, IL is a 3 Beds unit found at Tuckaway Townhomes in the Lincoln Hills neighborhood priced from $864. Fawn Ridge Apartments in the Lincoln Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,185. Here is today’s list of the most affordable Island Lake apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Tuckaway Townhomes | 3 Bedroom Townhome | 3BR,2BA | $864 |
| Fawn Ridge Apartments | Valley View | 1BR,1BA | $1,185 |
| Patriot Oaks (FKA Timber Oaks) | 1 Bedroom 1 Bathroom | 1BR,1BA | $1,307 |
Best Value Apartments for Rent in Island Lake, IL and Nearby
As of December 28, 2025 the best value apartment in the Island Lake area is the $1.81 price per square foot TH-A Model at Enclave Crystal Lake Townhomes and Apartments in the in the Park Place neighborhood starting from $3,050. The second greatest value Island Lake apartment is the Haydenwood Sunroom Model at Redwood Crystal Lake starting at $2,824 with a $1.75 price per square foot in the Arrowhead 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 | $1.81 |
| Redwood Crystal Lake | Haydenwood Sunroom | 2BR,2BA | $1.75 |
| Tuckaway Townhomes | 3 Bedroom Townhome | 3BR,2BA | $0.62 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.42 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.77 |
| Residence of Fairway Greens | CB121.5 Two Bed One and One half bath | 2BR,1.5BA | $1.81 |
| Moore Court Apartments | 2BR/1BA | 2BR,1BA | $1.58 |
| The Woods of Terra Springs | Maple | 1BR,1BA | $1.80 |
| Coventry Glen Apartments | 1 Bdrm/1 Bath-3rd FlrV | 1BR,1BA | $1.83 |
| Fawn Ridge Apartments | Valley View | 1BR,1BA | $1.76 |
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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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Island Lake
What type of rentals are currently available in Island Lake?
There are currently 56 Apartments for Rent in Island Lake, IL with pricing that ranges from $864 to $3,867. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Island Lake ranging from $1,295 to $3,300.
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 $1,295 to $3,300 with an average monthly rent of $2,310.
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

How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!