Cheap Apartments for Rent near Lily Lake, IL from $800 (45 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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39 Surrey Dr
Studio to 3 Bedroom Apartments

39 Surrey Dr

51 Surrey DrElgin, IL 60123
  • Utilities Included
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Elgin Tower Lofts
1 to 2 Bedroom Apartments

Elgin Tower Lofts

100 E Chicago StElgin, IL 60120
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Firethorne
2 Bedroom Apartments

Firethorne

1350 Brook StSt. Charles, IL 60174
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Ashford at Geneva
1 to 2 Bedroom Apartments

Ashford at Geneva

390-420 Brittany CtGeneva, IL 60134
Corporate Housing

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.

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WC Kimball
2 Bedroom Apartments

WC Kimball

52 N Crystal AveElgin, IL 60123

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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Showing Results 1-45, Page 1 of 1

Lily Lake, IL Local Guide

Cheapest Available Lily Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lily Lake, IL is a 1 Bed unit found at Royal Ridge Apartments in the Edgewater neighborhood priced from $1,350. Fox Run Apartments in the Riverfront neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,439. Here is today’s list of the most affordable Lily Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Royal Ridge Apartments1 Bedroom1BR,1BA$1,350
Fox Run ApartmentsShelby1BR,1BA$1,439
Haven St. CharlesA1.R - 1 Bedroom Renovated1BR,1BA$1,535
Wing Park Residencewp-1bs1BR,1BA$1,550
Authentix South ElginStudio Horizon OverlookStudio,1BA$1,562
Green Meadows ApartmentsLuxury1BR,1BA$1,600
The Crossings at St. Charles2 Bedroom 2 Bath2BR,2BA$1,640
Reserve at Prairie CentreAsterStudio,1BA$1,678
Springs At South Elgin1 BR Grand Courtyard1BR,1BA$1,714
Springs at St CharlesStudio Grand OverlookStudio,1BA$1,742

Best Value Apartments for Rent in Lily Lake, IL and Nearby

As of July 24, 2026 the best value apartment in the Lily Lake area is the $1.37 price per square foot Gregory End Model at Terrabrook at Prairie Ridge in the starting from $2,500. The second greatest value Lily Lake apartment is the C1 Model at Randall Highlands starting at $3,041 with a $2.09 price per square foot in the Batavia Historic District neighborhood. Here is today’s list of the best values for Lily Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Terrabrook at Prairie RidgeGregory End4BR,2.5BA$1.37
Randall HighlandsC13BR,2.5BA$2.09
Springs At South Elgin3 BR Grand Courtyard Garage3BR,2BA$2.14
Fountain Square2 Bed/ 2 Bath/ Den2BR,2.5BA$2.00
Reserve at Village CenterSunflower2BR,2BA$1.98
Ashford at Geneva2C2BR,2BA$2.10
The Township at St. CharlesAmherst1BR,1BA$1.75
Haven St. CharlesA1.R - 1 Bedroom Renovated1BR,1BA$2.06
Wing Park Residencewp-1bs1BR,1BA$2.14
Royal Ridge Apartments1 Bedroom1BR,1BA$2.08

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.

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

Explore Lily Lake, IL Rentals by Map

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See the most popular apartments and homes in Lily Lake, IL

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Frequently Asked Questions about Cheap Lily Lake Apartments

What is the Cheapest Studio apartment in Lily Lake?

Currently the most affordable Cheap Studio Apartment in Lily Lake is at Authentix South Elgin listed at $1,562.

How much is rent for a Cheap One Bedroom Lily Lake Apartment?

The lowest price for a Cheap One Bedroom Lily Lake Apartment is $1,350 at Royal Ridge Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lily Lake is starting from $1,640 at The Crossings at St. Charles.

What is the most affordable Lily Lake Three Bedroom Apartment?

The best deal on a cheap Lily Lake Three Bedroom Apartment rental is at Green Meadows Apartments and starts from $2,400.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.