2417 Sherman Ave
North ChicagoIL60064
Cheap Homes for Rent in Lake Forest, IL from $1,400 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Lake Forest.
3318 Berwyn Ave
North ChicagoIL60064
24 E Washington Ave
Lake BluffIL60044
1301 N Western Ave
Lake ForestIL60045
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.
519 N Waukegan Rd
Lake BluffIL60044
423 Funston Ave
HighwoodIL60040
546 Green Bay Rd
HighwoodIL60040
104 Michigan Ave
HighwoodIL60040
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.
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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 | $3,092 | $2,000 | $4,500 |
| Lake Forest 3 Bedroom Homes for Rent | $3,278 | $2,395 | $4,400 |
| Lake Forest 4 Bedroom Homes for Rent | $5,546 | $2,685 | $7,900 |
| Lake Forest 5 Bedroom Homes for Rent | $7,050 | $2,800 | $10,000+ |
| Lake Forest 6 Bedroom Homes for Rent | $10,500 | $10,000 | $10,000+ |
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
- School Districts
Cheapest Available Lake Forest Apartments for Rent
The cheapest available apartment rental in Lake Forest, IL is a 2 Beds unit found at The Oaks of Lake Bluff in the Downtown Lake Forest neighborhood priced from $1,495. Terrace Oaks Apartments in the Downtown Lake Forest neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,595. 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 | Small Two Bedroom | 2BR,1BA | $1,495 |
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1BA | $1,595 |
| Deer Valley Apartments | One BR Premium Renovation | 1BR,1BA | $1,926 |
Best Value Apartments for Rent in Lake Forest, IL
As of January 04, 2026 the best value apartment in the Lake Forest area is the $2.62 price per square foot P Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $6,020. The second greatest value Lake Forest apartment is the 3BR/2.5BA Model at Webster Place starting at $4,125 with a $2.30 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 | P | 3BR,2.5BA | $2.62 |
| Webster Place | 3BR/2.5BA | 3BR,2.5BA | $2.30 |
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1.5BA | $1.77 |
| The Oaks of Lake Bluff | Small Two Bedroom | 2BR,1BA | $1.87 |
| Deer Valley Apartments | One BR Premium Renovation | 1BR,1BA | $2.66 |
| 869 N McKinley Rd, Unit Unit 2 | 869 N McKinley Rd | 2BR,1BA | $2.86 |
| Arrive North Shore | Palmer | 1BR,1BA | $3.54 |
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
Best 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
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Best Local Schools in Lake Forest, IL
Sheridan Elementary School
Lake Forest School District 67
Public School - Grades PK-4 (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 7-8 (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 62 Apartments for Rent in Lake Forest, IL with pricing that ranges from $1,385 to $5,600. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Forest ranging from $1,400 to $12,000.
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 $1,400 to $12,000 with an average monthly rent of $5,201.
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
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!