Cheap Apartments for Rent in Norwood Park, IL from $500 (37 Rentals)

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

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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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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Linn St Commons
1 Bedroom Apartments

Linn St Commons

2112-2117 N Linn StPeoria, IL 61604
  • Utilities Included
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301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536
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Cityscape Apartments
2 to 3 Bedroom Apartments

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
  • 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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511 W High St
1 to 2 Bedroom Apartments

511 W High St

511 W High StPeoria, IL 61606

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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Showing Results 1-37, Page 1 of 1

Norwood Park, IL Local Guide

Cheapest Available Norwood Park Apartments for Rent and Nearby

 

The cheapest available apartment rental in Norwood Park, IL is a Studio unit found at Hollow Hills in the Windchime neighborhood priced from $700. 107 NE Roanoke Ave in the Averyville neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here is today’s list of the most affordable Norwood Park apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hollow HillsStudioStudio,1BA$700
107 NE Roanoke AveStudioStudio,1BA$750
The Avenue Apartments1B/ 1BA1BR,1BA$795
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Hollybrook Apartments1 bedroom1BR,1BA$825
Forrest Edge Apartments2 bed 1.5 bath2BR,1BA$875
Nordic Villa ApartmentsLoft1BR,1BA$875
502 W High St1 Bedroom1BR,1BA$900
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$925
Brandywine Crossing Apartments1 Bedroom1BR,1BA$927

Best Value Apartments for Rent in Norwood Park, IL and Nearby

As of May 21, 2026 the best value apartment in the Norwood Park area is the $1.22 price per square foot HCIV2S1FP Model at Hollow Creek IV Apartments in the in the Windchime neighborhood starting from $1,400. The second greatest value Norwood Park apartment is the CC2BR Model at Covington Court Apartments starting at $1,295 with a $1.26 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Norwood Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hollow Creek IV ApartmentsHCIV2S1FP2BR,2BA$1.22
Covington Court ApartmentsCC2BR2BR,2BA$1.26
ASPEN BLUFF APARTMENTSThree Bedrooms Two Bathroom3BR,2BA$1.14
Covington Place2BR/1.5BA Signature In Unit Wash/Dryer2BR,1.5BA$1.15
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$1.06
502 W High St1 Bedroom1BR,1BA$1.03
Forest Hills Apartments1x11BR,1BA$1.12
511 W High St1 BR1BR,1BA$1.19
Hollybrook Apartments1 bedroom1BR,1BA$1.06
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18

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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Quick Rent Budget Calculator

How much rent can you afford?

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!

Explore Norwood Park, IL Rentals by Map

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Frequently Asked Questions about Cheap Norwood Park Apartments

What is the Cheapest Studio apartment in Norwood Park?

Currently the most affordable Cheap Studio Apartment in Norwood Park is at Hollow Hills listed at $700.

How much is rent for a Cheap One Bedroom Norwood Park Apartment?

The lowest price for a Cheap One Bedroom Norwood Park Apartment is $795 at The Avenue Apartments.

What is the lowest price for a Cheap Two Bedroom Norwood Park Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Norwood Park is starting from $850 at Crestwood Apartments.

What is the most affordable Norwood Park Three Bedroom Apartment?

The best deal on a cheap Norwood Park Three Bedroom Apartment rental is at ASPEN BLUFF APARTMENTS and starts from $1,150.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.