Cheap Apartments for Rent in Mount Prospect, IL from $1,336 (94 Rentals)

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

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Orion Prospect
Rent Specials
$1,336 - $3,427
Total Monthly Price

Total Monthly Price

Base Rent
$1,336 - $3,427
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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property at 1100 N Wheeling Rd

$1,525

Total Monthly Price

Total Monthly Price

Base Rent
$1,525
Total Monthly Price
$1,525

1 Bedroom, 1 Bath Condo for Rent

Available Sep 1

1100 N Wheeling Rd, Unit 2A

1100 N Wheeling Rd
Mount ProspectIL60056

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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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
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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
  • Utilities Included
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Orion ParkView
1 to 2 Bedroom Apartments

Orion ParkView

1821 W Golf RdMount Prospect, IL 60056
Corporate Housing

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

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Centennial South
1 Bedroom Apartments

Centennial South

900 Centennial DrMount Prospect, IL 60056
Senior Living
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Centennial North
1 to 2 Bedroom Apartments

Centennial North

900 E Ardyce LnMount Prospect, IL 60056
Senior Living
  • Utilities Included

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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property at 1384 Brown St

$1,495

1 Bedroom, 1 Bath Home for Rent

Available Sep 1

1384 Brown St

Des PlainesIL60016
property at 2210 S Goebbert Rd

$1,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550

1 Bedroom, 1 Bath Condo for Rent

Available Sep 1

2210 S Goebbert Rd, Unit 431

2210 S Goebbert Rd
Arlington HeightsIL60005
property at 18 E Old Willow Rd

$1,650

Total Monthly Price

Total Monthly Price

Base Rent
$1,650
Total Monthly Price
$1,650

1 Bedroom, 1 Bath Condo for Rent

Available Now

18 E Old Willow Rd, Unit 504

18 E Old Willow Rd
Prospect HeightsIL60070

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property at 4200 W Lake Ave

$1,695 - $1,825

1 Bedroom Rentals

Available Now

4200 W Lake Ave

GlenviewIL60026
property at 4400 W Lake Ave

$1,695 - $2,645

1 To 2 Bedroom Rentals

Available Now

4400 W Lake Ave

GlenviewIL60026
property at 820 MCINTOSH Ct

$1,850

Total Monthly Price

Total Monthly Price

Base Rent
$1,850
Total Monthly Price
$1,850

2 Bedroom, 2 Bath Condo for Rent

Available Now

820 MCINTOSH Ct, Unit 308

820 MCINTOSH Ct
Prospect HeightsIL60070

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

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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 Orion Prospect in the Bristol Park neighborhood priced from $1,333. 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 $1,400. Here is today’s list of the most affordable Mount Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Orion ProspectEdgebrook1BR,1BA$1,333
The Eclipse at 1450Willow1BR,1BA$1,400
The Element1 Bed 1 Bath Cottonwood A Renovated1BR,1BA$1,410
Residences at Arlington HeightsThe Woodfield1BR,1BA$1,418
Orion ParkViewMonroe1BR,1BA$1,453
Briarwood Terrace ApartmentsColonial 11BR,1BA$1,499
ReNew Des Plaines North & SouthDes Plaines South - Efficiency 1 Bedroom1BR,1BA$1,549
Foxboro ApartmentsAstor1BR,1BA$1,592
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1,600

Best Value Apartments for Rent in Mount Prospect, IL

As of August 31, 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 700 Mill Cir Model at 700 Mill Cir, Unit River Mill Crossing starting at $2,000 with a $1.67 price per square foot in the Milwaukee Avenue 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
700 Mill Cir, Unit River Mill Crossing700 Mill Cir2BR,2BA$1.67
Briarwood Terrace ApartmentsSandstone 2 Split2BR,2BA$1.87
404 Inland Dr, Unit 2B404 Inland Dr2BR,1BA$1.59
ReNew Lake Arlington2x1.52BR,1.5BA$1.72
911 E Miner St, Unit 9911 E Miner St2BR,1BA$1.85
The Eagles1x1 deluxe1BR,1BA$1.99
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1.84
488 E 5th Ct488 E 5th Ct1BR,1BA$1.75
The Eclipse at 1450Willow1BR,1BA$1.99

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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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 Dunton Tower Apartments listed at $1,785.

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

The lowest price for a Cheap One Bedroom Mount Prospect Apartment is $1,333 at Orion Prospect.

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 $2,135.

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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