789 N McKinley Rd
Lake ForestIL60045
Cheap Homes for Rent in Lake Forest, IL from $1,600 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Lake Forest.
3353 Beacon St, Unit B26
3353 Beacon St
North ChicagoIL60064
26 E Washington Ave
Lake BluffIL60044
3349 Beacon St
North ChicagoIL60064
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.
4 S June Terrace
Lake ForestIL60045
13200 W Heiden Cir, Unit 2212, Unit 2212
13200 W Heiden Cir
Lake BluffIL60044
506 W Washington Ave
Lake BluffIL60044
328 Green Bay Rd
HighwoodIL60040
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.
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$2,5003 Bedroom Apartments Available Now
316 Highwood Ave, Unit 2
316 Highwood AveHighwood, IL 60040
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Lake Forest, IL Local Guide
Market Square by Slo-mo is licensed under CC BY-SA 3.0
How much does it cost to rent a home in Lake Forest?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Forest 2 Bedroom Homes for Rent | $2,636 | $1,850 | $4,000 |
| Lake Forest 3 Bedroom Homes for Rent | $3,722 | $2,400 | $5,900 |
| Lake Forest 4 Bedroom Homes for Rent | $5,592 | $3,300 | $10,000+ |
| Lake Forest 5 Bedroom Homes for Rent | $5,950 | $5,950 | $5,950 |
| Lake Forest 6 Bedroom Homes for Rent | $12,275 | $5,800 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Lake Forest
Explore Lake Forest
Lake Forest, IL Local Guide
- Lake Forest Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
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Cheapest Available Lake Forest Apartments for Rent
The cheapest available apartment rental in Lake Forest, IL is a 1 Bed unit found at The Oaks of Lake Bluff in the Downtown Lake Forest neighborhood priced from $1,425. 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 $1,484. Here is today’s list of the most affordable Lake Forest apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Oaks of Lake Bluff | One Bedroom | 1BR,1BA | $1,425 |
| Deer Valley Apartments | One Bedroom | 1BR,1BA | $1,484 |
| Arrive North Shore | Ashland | 1BR,1BA | $1,809 |
Best Value Apartments for Rent in Lake Forest, IL
As of April 25, 2026 the best value apartment in the Lake Forest area is the $2.46 price per square foot R Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $6,550. The second greatest value Lake Forest apartment is the 2 Bed 2 Bath Model at HIGHPOINT Highwood Station 440 starting at $2,995 with a $2.81 price per square foot in the Fort Sheridan neighborhood. Here is today’s list of the best values for Lake Forest apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Residences at Amberley Woods | R | 3BR,3BA | $2.46 |
| HIGHPOINT Highwood Station 440 | 2 Bed 2 Bath | 2BR,2BA | $2.81 |
| Deer Valley Apartments | Two Bedroom | 2BR,2BA | $2.36 |
| 318 Walker Ave | 2 Bedroom | 2BR,1BA | $2.34 |
| The Oaks of Lake Bluff | One Bedroom | 1BR,1BA | $2.04 |
| Arrive North Shore | Palmer | 1BR,1BA | $3.20 |
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 ArticleBest Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters
A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com
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 ArticleA Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago
A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com
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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Best Local Schools in Lake Forest, IL
Sheridan Elementary School
Lake Forest School District 67
Public School - Grades PK-5 (264)
10 out of 10
Lake Forest High School
Lake Forest Chsd 115 School District
Public School - Grades 9-12 (1438)
10 out of 10
Deer Path Middle School West
Lake Forest School District 67
Public School - Grades 6-8 (402)
9 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lake Forest, IL Rentals by Map
See the most popular apartments and homes in Lake Forest, IL
Frequently Asked Questions about Lake Forest
What type of rentals are currently available in Lake Forest?
There are currently 64 Apartments for Rent in Lake Forest, IL with pricing that ranges from $1,425 to $5,600. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Forest ranging from $1,700 to $20,000.
What is the current price range for Rental Homes in Lake Forest?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Forest ranges from $1,700 to $20,000 with an average monthly rent of $5,314.
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
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
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.