Cheap Apartments for Rent in Lakewood, IL from $1,100 (28 Rentals)

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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.

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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.

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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.

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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.

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Showing Results 1-28, 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 2 Beds unit found at Fawn Ridge Apartments in the Lincoln Hills neighborhood priced from $1,210. The Church Street Apartments in the Park Place neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,300. Here is today’s list of the most affordable Lakewood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Fawn Ridge ApartmentsWynstone2BR,2BA$1,210
The Church Street Apartments1 Bedroom1BR,1BA$1,300
The Cornell Luxury ApartmentsStudio1BR,1BA$1,300
Taylor Place2br 2ba2BR,2BA$1,325
Prairie View (Patriot Prairie of Woodstock)1X11BR,1BA$1,375
200 S Lincoln1BD/1BA1BR,1BA$1,400
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1,550
The Paths of Walnut Ridge2BR/2B TH2BR,2BA$1,600
Randall VillageThe Monet1BR,1BA$1,614
Eden Prairie Apartments2 Bed 1 Bath B Renovated2BR,1BA$1,655

Best Value Apartments for Rent in Lakewood, IL and Nearby

As of June 24, 2025 the best value apartment in the Lakewood area is the $1.76 price per square foot Milan Model at Conservancy at Gilberts in the in the Square Barn Road School Campus neighborhood starting from $3,730. The second greatest value Lakewood apartment is the 3 Bedroom Model at The Schoolhouse Apartments starting at $2,400 with a $1.60 price per square foot in the Arrowhead 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.
Conservancy at GilbertsMilan4BR,2.5BA$1.76
The Schoolhouse Apartments3 Bedroom3BR,2BA$1.60
Redwood Crystal LakeWillowood2BR,2BA$1.81
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
Fawn Ridge ApartmentsWoodruff3BR,2BA$1.60
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.68
The Paths of Walnut Ridge2BR/2B TH2BR,2BA$1.48
Taylor Place2br 2ba2BR,2BA$1.28
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
The Church Street Apartments1 Bedroom1BR,1BA$1.63

Quick Rent Budget Calculator

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Pet Friendly Lifestyle

Ranked #

Pet Friendliness Lifestyle Score

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

Explore Lakewood, IL Rentals by Map

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See the most popular apartments and homes in Lakewood, IL

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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 $1,325 at Taylor Place.

What is the most affordable Lakewood Three Bedroom Apartment?

The best deal on a cheap Lakewood Three Bedroom Apartment rental is at Taylor Place and starts from $1,505.

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.

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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.

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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.

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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.