Cheap Apartments for Rent in Mount Prospect, IL from $800 (26 Rentals)

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Victoria Hills
1 Bedroom Apartments

Victoria Hills

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

Mansard Lane Apartments

1713-1725 W Mansard LnMount Prospect, IL 60056
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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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Victoria Hills Apartments
1 to 2 Bedroom Apartments

Victoria Hills Apartments

1707-1709 W Victoria DrMount Prospect, IL 60056
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Windsor Courts
2 Bedroom Apartments

Windsor Courts

519 Dempster StMount Prospect, IL 60056
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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
  • Utilities Included

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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Rivertrail Apartments
1 to 2 Bedroom Apartments

Rivertrail Apartments

515-519 S Milwaukee AveWheeling, IL 60090
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Shady Way
1 Bedroom Apartments

Shady Way

920 E Shady WayArlington Heights, IL 60005
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Salem Lane Apartments
1 Bedroom Apartments

Salem Lane Apartments

211 N Kaspar AveArlington Heights, IL 60005
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919 S McKinley Ave
2 Bedroom Apartments

919 S McKinley Ave

919 S McKinley AveArlington Heights, IL 60005

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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1376 Brown
1 Bedroom Apartments

1376 Brown

1376-1384 Brown StDes Plaines, IL 60016
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Des Plaines Apartments
1 Bedroom Apartments

Des Plaines Apartments

510-570 E Seegers RdDes Plaines, IL 60016
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214-222 S Pine Ave
1 to 2 Bedroom Apartments

214-222 S Pine Ave

214-222 S Pine AveArlington Heights, IL 60005
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Dryden Apartments
1 Bedroom Apartments

Dryden Apartments

1 N Dryden PlArlington Heights, IL 60004
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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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315 SALEM LLC
1 to 2 Bedroom Apartments

315 SALEM LLC

315 N Salem AveArlington Heights, IL 60005

Mount Prospect, IL Local Guide

Photo of Staff Writer  - Local Guide Expert
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 16 W Busse Ave in the Westgate neighborhood priced from $1,095. The Eclipse at 1450 in the Downtown Mount Prospect neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,343. Here is today’s list of the most affordable Mount Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
16 W Busse Aveunit 11BR,1BA$1,095
The Eclipse at 1450Willow1BR,1BA$1,343
Dryden ApartmentsRenovated 1 Bedroom 1 Bathroom Apartment1BR,1BA$1,350
Orion ParkViewMonroe1BR,1BA$1,440
Mount Prospect Greens1x1BP - Partial Renovated Arlington1BR,1BA$1,459
The ElementBirch1BR,1BA$1,472
Briarwood Terrace ApartmentsSandstone 11BR,1BA$1,475
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1,500
Residences at Arlington HeightsThe Meadow1BR,1BA$1,500

Best Value Apartments for Rent in Mount Prospect, IL

As of July 02, 2025 the best value apartment in the Mount Prospect area is the $1.90 price per square foot 3x2 deluxe carpet Model at The Eagles in the in the Bristol Park neighborhood starting from $2,400. The second greatest value Mount Prospect apartment is the 2 BR/ 2 BA Model at Piper Lane starting at $1,850 with a $1.48 price per square foot in the North Northfield 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.
The Eagles3x2 deluxe carpet3BR,2BA$1.90
Piper Lane2 BR/ 2 BA2BR,2BA$1.48
Orion Arlington LakesLincoln - Renovated1BR,1BA$1.87
Briarwood Terrace ApartmentsNorthpoint 2 SBS2BR,2BA$1.91
Ashton Arlington Heights2 Bed/2 Bath2BR,2BA$1.99
Circle Hill Apartments2 Bedroom/1.5 Baths2BR,1.5BA$1.78
Mount Prospect Greens2x1AR - Renovated Evanston2BR,1BA$2.08
Forest Cove Apartments2 Bedrooms Floor Plan B12BR,1BA$2.05
488 E 5th Ct, Unit B488 E 5th Ct1BR,1BA$1.63
The Eclipse at 1450Willow1BR,1BA$1.90

Quick Rent Budget Calculator

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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. 

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

Explore Mount Prospect, IL Rentals by Map

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Getting Around Mount Prospect, IL

Walk Score®

67 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

62 / 100

Bikeable

Some bike infrastructure

Transit Score®

27 / 100

Some Transit

A few nearby public transportation options

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 $1,875.

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

The lowest price for a Cheap One Bedroom Mount Prospect Apartment is $1,095 at 16 W Busse Ave.

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 $1,702 at Forest Cove 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 ReNew Des Plaines North and starts from $2,120.

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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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

Written by: Nicole Harms

I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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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.

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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.