Cheap Apartments for Rent in Lakewood, IL from $1,100 (32 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Lakewood.

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.

Read Article

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
close
View Me
Taylor Place
1 to 3 Bedroom Apartments

Taylor Place

4103 W Crystal Lake RdMcHenry, IL 60050
  • Utilities Included
close
View Me
Woodcreek
2 Bedroom Apartments

Woodcreek

11700 Woodcreek EHuntley, IL 60142
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
Showing Results 1-32, Page 1 of 1

Lakewood, IL Local Guide

Cheapest Available Lakewood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lakewood, IL is a 1 Bed unit found at The Church Street Apartments in the Park Place neighborhood priced from $1,300. Prairie View (Patriot Prairie of Woodstock) in the Savanna Grove neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,350. Here is today’s list of the most affordable Lakewood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Church Street Apartments1 Bedroom1BR,1BA$1,300
Prairie View (Patriot Prairie of Woodstock)STUDIOStudio,1BA$1,350
200 S Lincoln1BD/1BA1BR,1BA$1,400
The Cornell Luxury Apartments1 bedroom1BR,1BA$1,500
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550
The Paths of Walnut Ridge2 Bed / 2 Bath2BR,2BA$1,585
Randall VillageThe Monet1BR,1BA$1,634
Crystal Lake Apartments1 Bedroom1BR,1BA$1,635
Eden Prairie Apartments2 Bed 1 Bath A Renovated2BR,1BA$1,635
Fawn Ridge ApartmentsWynstone2BR,2BA$1,663

Best Value Apartments for Rent in Lakewood, IL and Nearby

As of July 24, 2025 the best value apartment in the Lakewood area is the $1.06 price per square foot 2 Bedroom Model at The Church Street Apartments in the in the Park Place neighborhood starting from $1,900. The second greatest value Lakewood apartment is the Champion Single Wide Model at Oakbrook Estates- Senior 55+ Community starting at $1,700 with a $1.42 price per square foot in the East Suburban McHenry neighborhood. Here is today’s list of the best values for Lakewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Church Street Apartments2 Bedroom2BR,2BA$1.06
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.68
The Paths of Walnut Ridge2 Bed / 2 Bath2BR,2BA$1.50
Residence of Fairway GreensCB121.5 Two Bed One and One half bath2BR,1BA$1.90
Fawn Ridge ApartmentsWynstone2BR,2BA$1.77
The Schoolhouse Apartments2 Bedroom2BR,1BA$2.00
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
Eden Prairie Apartments2 Bed 1 Bath A Renovated2BR,1BA$1.95
Randall VillageThe Monet1BR,1BA$1.97

Quick 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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle

Ranked #

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

decorative image of woman handing cat to small boy

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lakewood, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Lakewood, IL

View Map
Lakewood, IL Apartments Map
View Map
Lakewood, IL Rental Homes Map

Getting Around Lakewood, IL

Walk Score®

15 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

32 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lakewood Apartments

How much is rent for a Cheap One Bedroom Lakewood Apartment?

The lowest price for a Cheap One Bedroom Lakewood Apartment is $1,300 at The Church Street Apartments.

What is the lowest price for a Cheap Two Bedroom Lakewood Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lakewood is starting from $1,375 at Prairie View (Patriot Prairie of Woodstock).

What is the most affordable Lakewood Three Bedroom Apartment?

The best deal on a cheap Lakewood Three Bedroom Apartment rental is at Oakbrook Estates- Senior 55+ Community and starts from $1,700.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.