Cheap Apartments for Rent in Prospect Heights, IL from $800 (59 Rentals)

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

property at 1449 Quaker Ln

$1,895

2 Bedroom Rentals

Available Now

1449 Quaker Ln

Prospect HeightsIL60070

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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property at 4400 W Lake Ave

$1,695 - $2,645

1 To 2 Bedroom Rentals

Available Jul 7

4400 W Lake Ave

GlenviewIL60026

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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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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20West
$1,999 - $2,968
Total Monthly Price

Total Monthly Price

Base Rent
$1,999 - $2,968
Total Monthly Price
$1,999 - $2,968
Studio to 3 Bedroom Apartments Available Now

20West

20 W Northwest HwyMount Prospect, IL 60056
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property at 1206 E Fairview St

$2,025

Total Monthly Price

Total Monthly Price

Base Rent
$2,025
Total Monthly Price
$2,025

2 Bedroom, 2 Bath Condo for Rent

Available May 1

1206 E Fairview St, Unit 103, Unit 103

1206 E Fairview St
Arlington HeightsIL60005
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Rivertrail Apartments
1 to 2 Bedroom Apartments

Rivertrail Apartments

515-519 S Milwaukee AveWheeling, IL 60090
  • Utilities Included
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55-77 E Strong St
Studio to 1 Bedroom Apartments

55-77 E Strong St

55-77 E Strong StWheeling, IL 60090
  • Utilities Included
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919 S McKinley Ave
1 to 2 Bedroom Apartments

919 S McKinley Ave

919 S McKinley AveArlington Heights, IL 60005
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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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Wheeling Manor
1 to 2 Bedroom Apartments

Wheeling Manor

305 9th StWheeling, IL 60090
  • Utilities Included

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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Mallard Lake
Studio to 2 Bedroom Apartments

Mallard Lake

1572 Teal LnWheeling, IL 60090
Corporate Housing
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Dryden Apartments
1 to 2 Bedroom Apartments

Dryden Apartments

1 N Dryden PlArlington Heights, IL 60004
  • Utilities Included
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Salem Lane Apartments
1 to 3 Bedroom Apartments

Salem Lane Apartments

211 N Kaspar AveArlington Heights, IL 60005
  • Utilities Included
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315 SALEM LLC
1 to 2 Bedroom Apartments

315 SALEM LLC

315 N Salem AveArlington Heights, IL 60005
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Crescent Place
Studio to 2 Bedroom Apartments

Crescent Place

310 W Rand RdArlington Heights, IL 60004
  • Utilities Included
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Foxboro Apartments
1 to 2 Bedroom Apartments

Foxboro Apartments

470 Foxboro DrWheeling, IL 60090
Corporate Housing

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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Showing Results 1-50, Page 1 of 2

Prospect Heights, IL Local Guide

Cheapest Available Prospect Heights Apartments for Rent

 

The cheapest available apartment rental in Prospect Heights, 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 Prospect Heights 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
Foxboro ApartmentsAstor1BR,1BA$1,542
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1,600
214-222 S Pine Ave1BD/1BA1BR,1BA$1,600
ReNew Lake Arlington1x1B1BR,1BA$1,619
Stonebridge of Arlington Heights1x1 A1BR,1BA$1,659
GlenLake Village1 Bedroom 1 Bathroom1BR,1BA$1,695
4 North ApartmentsStudioStudio,1BA$1,700
Briarwood Terrace ApartmentsSandstone 2 SBS2BR,2BA$1,700

Best Value Apartments for Rent in Prospect Heights, IL

As of April 26, 2026 the best value apartment in the Prospect Heights area is the $1.56 price per square foot 2 BR/ 2 BA Model at Piper Lane in the in the North Northfield neighborhood starting from $1,950. The second greatest value Prospect Heights apartment is the 3 Bedroom Model at Union Apartments starting at $2,200 with a $1.80 price per square foot in the McHenry Road neighborhood. Here is today’s list of the best values for Prospect Heights apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Piper Lane2 BR/ 2 BA2BR,2BA$1.56
Union Apartments3 Bedroom3BR,2BA$1.80
ReNew Lake Arlington2x1.52BR,1.5BA$1.93
Briarwood Terrace ApartmentsNorthpoint 2 Split2BR,2BA$1.76
Mallard LakeSuperior2BR,2BA$1.92
Hunt Club ApartmentsBirch (2 Bed U)2BR,1BA$1.68
Mandalane2D2BR,2BA$2.03
Circle Hill Apartments1 Bedroom/1 Bath1BR,1BA$1.84
Stonebridge of Arlington Heights1x1 A Reno1BR,1BA$2.01
Dryden Homes- 1-21 N Dryden PlOne Bedroom1BR,1BA$2.07

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Frequently Asked Questions about Cheap Prospect Heights Apartments

What is the Cheapest Studio apartment in Prospect Heights?

Currently the most affordable Cheap Studio Apartment in Prospect Heights is at 4 North Apartments listed at $1,700.

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

The lowest price for a Cheap One Bedroom Prospect Heights Apartment is $1,295 at Dryden Homes- 1-21 N Dryden Pl.

What is the lowest price for a Cheap Two Bedroom Prospect Heights Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Prospect Heights is starting from $1,600 at Hunt Club Apartments.

What is the most affordable Prospect Heights Three Bedroom Apartment?

The best deal on a cheap Prospect Heights Three Bedroom Apartment rental is at Union Apartments and starts from $2,200.

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.

Helpful Local Expert Guides

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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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Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

Written by: Nicole Harms

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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Best Neighborhoods to Rent in Near Chicago's Top Employers

Written by: Nicole Harms

Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

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From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

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

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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.

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Renting your next home can feel thrilling and overwhelming at the same time.