1375 Cunat Ct
Lake In The HillsIL60156
Cheap Homes for Rent in Lakewood, IL from $1,300 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Lakewood.
531 Leah Ln
WoodstockIL60098
627 S Virginia Rd
Crystal LakeIL60014
621 S Virginia Rd
Crystal LakeIL60014
651 S Virginia Rd
Crystal LakeIL60014
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.
350 College St
Crystal LakeIL60014
410 Center St
WoodstockIL60098
439 Berkshire Dr
Crystal LakeIL60014
721 Dean St
WoodstockIL60098
425 Berkshire Dr
Crystal LakeIL60014
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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$1,7952 Bedroom Apartments Available Jun 1
419 Berkshire Dr
419 Berkshire DrCrystal Lake, IL 60014
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Lakewood, IL Local Guide
Dowitcher by CheepShot is licensed under CC BY 2.0
How much does it cost to rent a home in Lakewood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lakewood 2 Bedroom Homes for Rent | $1,987 | $1,500 | $3,197 |
| Lakewood 3 Bedroom Homes for Rent | $2,691 | $1,600 | $3,650 |
| Lakewood 4 Bedroom Homes for Rent | $3,248 | $3,000 | $3,500 |
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Lakewood, IL Local Guide
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Cheapest Available Lakewood Apartments for Rent and Nearby
The cheapest available apartment rental in Lakewood, IL is a 1 Bed unit found at Meadowdale Apartments in the Waterford of Algonquin neighborhood priced from $1,235. Willow Brooke in the Savanna Grove neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,280. Here is today’s list of the most affordable Lakewood apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Meadowdale Apartments | 1 Bedroom - 1 Bath 667 sq ft | 1BR,1BA | $1,235 |
| Willow Brooke | One Bedroom | 1BR,1BA | $1,280 |
| The Cornell Luxury Apartments | Studio | 1BR,1BA | $1,300 |
| Patriot Prairie of Woodstock | 2X1 | 2BR,1BA | $1,375 |
| 200 S Lincoln | 1BD/1BA | 1BR,1BA | $1,400 |
Best Value Apartments for Rent in Lakewood, IL and Nearby
As of May 31, 2026 the best value apartment in the Lakewood area is the $1.60 price per square foot 3 Bedroom Model at The Schoolhouse Apartments in the in the Arrowhead neighborhood starting from $2,400. 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 Fox Trails neighborhood. Here is today’s list of the best values for Lakewood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Schoolhouse Apartments | 3 Bedroom | 3BR,2BA | $1.60 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.42 |
| 1900 at Canterfield Apartment Homes | B4- Upper | 2BR,2BA | $1.96 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.82 |
| Woodcreek | Apt B | 2BR,2BA | $1.60 |
| 311 Barrington Ave Lofts | 1 Bed Room | 1BR,1BA | $1.75 |
| Patriot Prairie of Woodstock | 2X1 | 2BR,1BA | $1.79 |
| The Cornell Luxury Apartments | Studio | 1BR,1BA | $1.86 |
| Willow Brooke | One Bedroom | 1BR,1BA | $1.90 |
| Meadowdale Apartments | 1 Bedroom - 1 Bath 667 sq ft | 1BR,1BA | $1.85 |
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.
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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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See the most popular apartments and homes in Lakewood, IL
Frequently Asked Questions about Lakewood
What type of rentals are currently available in Lakewood?
There are currently 64 Apartments for Rent in Lakewood, IL with pricing that ranges from $576 to $4,216. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lakewood ranging from $1,395 to $3,650.
What is the current price range for Rental Homes in Lakewood?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lakewood ranges from $1,395 to $3,650 with an average monthly rent of $2,349.
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
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.