Cheap Apartments for Rent in Mount Prospect, IL from $800 (89 Rentals)

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

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Orion Prospect
$1,430 - $3,463
Total Monthly Price

Total Monthly Price

Base Rent
$1,430 - $3,463
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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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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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
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1709 W Victoria Dr
1 to 2 Bedroom Apartments

1709 W Victoria Dr

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

Windsor Courts

519 Dempster StMount Prospect, IL 60056
  • Utilities Included

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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Brownstone Court
2 Bedroom Apartments

Brownstone Court

1474-1484 S Brownstone CtMount Prospect, IL 60056
  • Utilities Included
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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

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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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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property at 1348 Brown St

$1,595

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

1348 Brown St

Des PlainesIL60016
property at 406 Inland Dr

$1,675

Total Monthly Price

Total Monthly Price

Base Rent
$1,675
Total Monthly Price
$1,675

1 Bedroom, 1 Bath Condo for Rent

Available Now

406 Inland Dr, Unit 3A

406 Inland Dr
WheelingIL60090

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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Mount Prospect, IL Local Guide

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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 ParkViewMonroe1BR,1BA$1,375
The Eclipse at 1450Willow1BR,1BA$1,400
The Element1 Bed 1 Bath Cottonwood A Renovated1BR,1BA$1,410
Orion ProspectKenwood1BR,1BA$1,430
Residences at Arlington HeightsThe Meadow1BR,1BA$1,453
Briarwood Terrace ApartmentsNorthpoint 1 w/ Balcony1BR,1BA$1,475

Best Value Apartments for Rent in Mount Prospect, IL

As of July 17, 2026 the best value apartment in the Mount Prospect area is the $1.60 price per square foot 2 BR/ 2 BA Model at Piper Lane in the in the North Northfield neighborhood starting from $2,000. The second greatest value Mount Prospect apartment is the 110 S Dunton Ave Model at 110 S Dunton Ave, Unit 3C starting at $2,300 with a $1.87 price per square foot in the Central Business District 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$1.60
110 S Dunton Ave, Unit 3C110 S Dunton Ave2BR,2BA$1.87
404 Inland Dr, Unit 2B404 Inland Dr2BR,1BA$1.63
Briarwood Terrace ApartmentsNorthpoint 2 SBS2BR,2BA$1.73
931 Jonathon Ct, Unit River Trails931 Jonathon Ct2BR,2BA$1.84
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1.84
488 E 5th Ct488 E 5th Ct1BR,1BA$1.75
1214 E Northwest Hwy, Unit 51214 E Northwest Hwy2BR,1BA$1.88
920 E Shady Way, Unit 6920 E Shady Way1BR,1BA$1.88
The Eclipse at 1450Willow1BR,1BA$1.99

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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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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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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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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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 $1,570 at The Element.

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 $2,395.

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.

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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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