
Cheap Homes for Rent in Oakwood Hills, IL from $1,200 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Oakwood Hills.


4312 W Shamrock Ln

1375 Cunat Ct

627 S Virginia Rd

651 S Virginia Rd
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.

350 College St

439 Berkshire Dr

425 Berkshire Dr

219 Uteg St

241 S Highland Dr
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.

490 Westwood Ct
Oakwood Hills, IL Local Guide

How much does it cost to rent a home in Oakwood Hills?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Oakwood Hills 2 Bedroom Homes for Rent | $2,002 | $1,525 | $3,197 |
| Oakwood Hills 3 Bedroom Homes for Rent | $2,742 | $1,750 | $4,100 |
| Oakwood Hills 4 Bedroom Homes for Rent | $3,349 | $2,500 | $4,000 |
Browse Top Homes for Rent in Oakwood Hills
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Oakwood Hills, IL Local Guide
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Cheapest Available Oakwood Hills Apartments for Rent and Nearby
 The cheapest available apartment rental in Oakwood Hills, IL is a 1 Bed unit found at Wauconda Park Apartments in the Liberty Lakes - Freedom Series neighborhood priced from $1,200. Meadowdale Apartments in the Waterford of Algonquin neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,235. Here is today’s list of the most affordable Oakwood Hills apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Wauconda Park Apartments | 1 Bed / 1 Bath | 1BR,1BA | $1,200 |
| Meadowdale Apartments | 1 Bedroom - 1 Bath 667 sq ft | 1BR,1BA | $1,235 |
| The Church Street Apartments | 1 Bedroom | 1BR,1BA | $1,400 |
| Darlington Court Apartments | One Bed/One Bath | 1BR,1BA | $1,477 |
| Stone Edge Apartments | 2 Bed 2 Bath | 2BR,2BA | $1,500 |
Best Value Apartments for Rent in Oakwood Hills, IL and Nearby
As of June 06, 2026 the best value apartment in the Oakwood Hills area is the $1.95 price per square foot Willowood Model at Redwood Crystal Lake in the in the Arrowhead neighborhood starting from $2,699. The second greatest value Oakwood Hills apartment is the Forestwood Model at Redwood Volo starting at $2,483 with a $1.92 price per square foot in the Liberty Lakes - Freedom Series neighborhood. Here is today’s list of the best values for Oakwood Hills apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Redwood Crystal Lake | Willowood | 2BR,2BA | $1.95 |
| Redwood Volo | Forestwood | 2BR,2BA | $1.92 |
| The Meadows Apartments Lakemoor | Meadow | 2BR,2BA | $1.65 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.42 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.82 |
| Stone Edge Apartments | 2 Bed 2 Bath | 2BR,2BA | $1.36 |
| Residence of Fairway Greens | 2.1.5B | 2BR,1.5BA | $1.95 |
| Tuckaway Townhomes | 2 Bedroom Townhome | 2BR,2BA | $1.70 |
| 311 Barrington Ave Lofts | 1 Bed Room | 1BR,1BA | $1.75 |
| Meadowdale Apartments | 1 Bedroom - 1 Bath 667 sq ft | 1BR,1BA | $1.85 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Oakwood Hills, IL
Frequently Asked Questions about Oakwood Hills
What type of rentals are currently available in Oakwood Hills?
There are currently 45 Apartments for Rent in Oakwood Hills, IL with pricing that ranges from $576 to $3,662. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Oakwood Hills ranging from $1,210 to $4,100.
What is the current price range for Rental Homes in Oakwood Hills?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Oakwood Hills ranges from $1,210 to $4,100 with an average monthly rent of $2,346.
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

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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.