Cheap Apartments for Rent in McHenry, IL from $500 (26 Rentals)

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

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.

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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Southgate Apartments
1 to 2 Bedroom Apartments

Southgate Apartments

4108 W Lillian StMcHenry, IL 60050
  • Utilities Included
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Riverside Apartments
Studio to 1 Bedroom Apartments

Riverside Apartments

3308-3309 W Elm StMcHenry, IL 60050
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Fawn Ridge Apartments
1 to 3 Bedroom Apartments

Fawn Ridge Apartments

1941 N Orleans StMcHenry, IL 60050
  • Utilities Included

Cash 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.

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Concord Manor
2 Bedroom Apartments

Concord Manor

3605 James StMcHenry, IL 60050
  • Utilities Included
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Taylor Place
1 to 3 Bedroom Apartments

Taylor Place

4103 W Crystal Lake RdMcHenry, IL 60050
  • Utilities Included
property at 813 Rand Rd

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950

Total Monthly Price
$950

1 Bedroom, 1 Bath Home for Rent

Available Now

813 Rand Rd, Unit 1

813 Rand Rd
LakemoorIL60051

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.

McHenry, IL Local Guide

Cheapest Neighborhoods for Apartments in McHenry, IL

Pricing Updated: 07/12/2026

Current apartment rentals in the McHenry, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for McHenry Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Liberty Square$1,688$5766
The Oaks at Irish Praire$1,981$1,2544
Lincoln Hills$2,185$57618
Morgan Hill Mews$2,185$57614

Cheapest Available McHenry Apartments for Rent

 

The cheapest available apartment rental in McHenry, IL is a 1 Bed unit found at McHenry Commons in the Lincoln Hills neighborhood priced from $576. Fawn Ridge Apartments in the Lincoln Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,220. Here is today’s list of the most affordable McHenry apartments for rent:

Apartment ListingModel NameBed/BathPriced From
McHenry CommonsSugar Maple - 30% AMI1BR,1BA$576
Fawn Ridge ApartmentsValley View1BR,1BA$1,220
Concord Manor2 Bedrooms, 1 Bathroom2BR,1BA$1,425
The Blake at Fox RiverEllory1BR,1BA$1,500
Tuckaway Townhomes2 Bedroom Townhome2BR,2BA$1,900
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$2,000

Best Value Apartments for Rent in McHenry, IL

As of July 12, 2026 the best value apartment in the McHenry area is the $1.82 price per square foot Residence #5, 6, 7 and 8 (Plus Den) Model at River Place in the in the Lincoln Hills neighborhood starting from $2,000. The second greatest value McHenry apartment is the 2 Bedroom Townhome Model at Tuckaway Townhomes starting at $1,900 with a $2.06 price per square foot in the Lincoln Hills neighborhood. Here is today’s list of the best values for McHenry apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.82
Tuckaway Townhomes2 Bedroom Townhome2BR,2BA$2.06
McHenry CommonsSugar Maple - 60% AMI1BR,1BA$1.70
Concord Manor2 Bedrooms, 1 Bathroom2BR,1BA$2.07
Fawn Ridge ApartmentsValley View1BR,1BA$1.81
The Blake at Fox RiverEllory1BR,1BA$2.25

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!

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Frequently Asked Questions about Cheap McHenry Apartments

What is the price of a cheap apartment in McHenry?

The cheapest apartment in McHenry is McHenry Commons which is listed at $576, while the average apartment in McHenry costs $2,009.

What types of apartments are the cheapest in McHenry?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 17 regular apartments in McHenry that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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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.

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.