Cheap Apartments for Rent in Mount Prospect, IL from $800 (73 Rentals)

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

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Orion Prospect
$1,392 - $2,650
Total Monthly Price

Total Monthly Price

Base Rent
$1,392 - $2,650
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Orion Prospect

475 W Enterprise DrMount Prospect, IL 60056
Corporate Housing
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  • Customer Reviewed
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20West
$1,999 - $2,968
Total Monthly Price

Total Monthly Price

Base Rent
$1,999 - $2,968
Total Monthly Price
$1,999 - $2,968
Studio to 3 Bedroom Apartments Available Now

20West

20 W Northwest HwyMount Prospect, IL 60056
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Victoria Hills
1 Bedroom Apartments

Victoria Hills

1854 S Phillip DrMount Prospect, IL 60056
  • Utilities Included
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Mansard Lane Apartments
2 Bedroom Apartments

Mansard Lane Apartments

1713-1725 W Mansard LnMount Prospect, IL 60056
  • Utilities Included
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16 W Busse Ave
Studio to 1 Bedroom Apartments

16 W Busse Ave

16 W Busse AveMount Prospect, IL 60056
  • Utilities Included

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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1709 W Victoria Dr
1 to 2 Bedroom Apartments

1709 W Victoria Dr

1709 W Victoria DrMount Prospect, IL 60056
  • Utilities Included
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Windsor Courts
1 to 2 Bedroom Apartments

Windsor Courts

519 Dempster StMount Prospect, IL 60056
  • Utilities Included
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Brownstone Court
2 Bedroom Apartments

Brownstone Court

1474-1484 S Brownstone CtMount Prospect, IL 60056
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637 W Pickwick Ct
2 Bedroom Apartments

637 W Pickwick Ct

637 W Pickwick CtMount Prospect, IL 60056
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Orion ParkView
1 to 2 Bedroom Apartments

Orion ParkView

1821 W Golf RdMount Prospect, IL 60056
Corporate Housing
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Centennial South
1 Bedroom Apartments

Centennial South

900 Centennial DrMount Prospect, IL 60056
Senior Living

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

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property at 4400 W Lake Ave

$1,695 - $2,645

1 To 2 Bedroom Rentals

Available Jul 7

4400 W Lake Ave

GlenviewIL60026
property at 900 Perrie Dr

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900
Total Monthly Price
$1,900

2 Bedroom, 2 Bath Condo for Rent

Available Jun 1

900 Perrie Dr, Unit 3, Unit 3

900 Perrie Dr
Elk Grove VillageIL60007

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

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Showing Results 1-50, Page 1 of 2

Mount Prospect, IL Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Available Mount Prospect Apartments for Rent

 

The cheapest available apartment rental in Mount Prospect, IL is a 1 Bed unit found at Dryden Homes- 1-21 N Dryden Pl in the Downtown Mount Prospect neighborhood priced from $1,295. Hunt Club Apartments in the Milwaukee Avenue neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,350. Here is today’s list of the most affordable Mount Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Dryden Homes- 1-21 N Dryden PlOne Bedroom1BR,1BA$1,295
Hunt Club ApartmentsAsh (1 Bed U)1BR,1BA$1,350
Orion ProspectLogan1BR,1BA$1,392
The Eclipse at 1450Willow1BR,1BA$1,400
The Element1 Bed 1 Bath Cottonwood A Renovated1BR,1BA$1,425
Residences at Arlington HeightsThe Meadow1BR,1BA$1,503
Orion ParkViewMonroe1BR,1BA$1,512
Foxboro ApartmentsAstor1BR,1BA$1,565
Ashton Arlington Heights1 Bed/1 Bath1BR,1BA$1,570

Best Value Apartments for Rent in Mount Prospect, IL

As of April 28, 2026 the best value apartment in the Mount Prospect area is the $1.56 price per square foot 2 BR/ 2 BA Model at Piper Lane in the in the North Northfield neighborhood starting from $1,950. The second greatest value Mount Prospect apartment is the 2x1.5 Model at ReNew Lake Arlington starting at $2,079 with a $1.98 price per square foot in the McHenry Road neighborhood. Here is today’s list of the best values for Mount Prospect apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Piper Lane2 BR/ 2 BA2BR,2BA$1.56
ReNew Lake Arlington2x1.52BR,1.5BA$1.98
Briarwood Terrace ApartmentsNorthpoint 2 Split2BR,2BA$1.76
931 Jonathon Ct, Unit River Trails931 Jonathon Ct2BR,2BA$1.90
Mount Prospect Greens2x1BR - Renovated Pinewood2BR,1BA$1.99
Hunt Club ApartmentsBirch (2 Bed U)2BR,1BA$1.68
The Eagles1x1 deluxe1BR,1BA$1.99
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1.84
488 E 5th Ct, Unit B488 E 5th Ct1BR,1BA$1.75
The Eclipse at 1450Willow1BR,1BA$1.99

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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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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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Mount Prospect Overview

The city of Mount Prospect is a popular suburb of Chicago with a population of near 55,000 people. Many of those residents love the area's urban feel and the multiple entertainment options offered all throughout town. The community is made up of young professionals who are looking for a quality school system for their young children. Most choose to live in an apartment first in order to save money then purchase a home later. 

Why live in Mount Prospect, IL?

Mount Prospect is a suburb of Chicago that has a growing population each year. It offers residents an urban surburban lifestyle that has plenty of entertainment options in the downtown area. The school system offered is one of the best in the United States today as the majority of the students are award-winning recipients of educational competitions offered by the state of Illinois. This gives a children a remarkable avenue to continuing their education at a higher level. Plus, Mount Prospect is an ideal location to raise an active family as the area is home to multiple outdoor parks. 

Mount Prospect, IL
Population: 54,198

Ranked #716

in US Census Population by City

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Best Local Schools in
Mount Prospect, IL

School data provided by Great Schools

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

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Frequently Asked Questions about Cheap Mount Prospect Apartments

What is the Cheapest Studio apartment in Mount Prospect?

Currently the most affordable Cheap Studio Apartment in Mount Prospect is at 4 North Apartments listed at $1,700.

How much is rent for a Cheap One Bedroom Mount Prospect Apartment?

The lowest price for a Cheap One Bedroom Mount Prospect Apartment is $1,295 at Dryden Homes- 1-21 N Dryden Pl.

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

Today's best deal for a Cheap Two Bedroom Apartment in Mount Prospect is starting from $1,600 at Hunt Club Apartments.

What is the most affordable Mount Prospect Three Bedroom Apartment?

The best deal on a cheap Mount Prospect Three Bedroom Apartment rental is at Residences at Arlington Heights and starts from $2,354.

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.

Helpful Local Expert Guides

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With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

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