Cheap Homes for Rent in Prospect Heights, IL from $1,500 (24 Rentals)

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

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 330 W Miner St

330 W Miner St

Arlington HeightsIL60005

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 16 W Busse Ave in the Westgate neighborhood priced from $1,095. Briarwood Terrace Apartments in the North Northfield neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,475. Here is today’s list of the most affordable Prospect Heights apartments for rent:

Apartment ListingModel NameBed/BathPriced From
16 W Busse Aveunit 11BR,1BA$1,095
Briarwood Terrace ApartmentsSandstone 11BR,1BA$1,475
Foxboro ApartmentsEaston1BR,1BA$1,615
Mandalane1A1BR,1BA$1,639
GlenLake Village1 Bedroom / 1 Bathroom1BR,1BA$1,695

Best Value Apartments for Rent in Prospect Heights, IL

As of July 23, 2025 the best value apartment in the Prospect Heights area is the $2.38 price per square foot 2B2BA-2C Model at One Wheeling Town Center in the in the McHenry Road neighborhood starting from $3,104. The second greatest value Prospect Heights apartment is the 2 BR/ 2 BA Model at Piper Lane starting at $1,850 with a $1.48 price per square foot in the North Northfield 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.
One Wheeling Town Center2B2BA-2C2BR,2BA$2.38
Piper Lane2 BR/ 2 BA2BR,2BA$1.48
Union Apartments3 Bedroom3BR,2BA$1.80
Circle Hill Apartments2 Bedroom/1.5 Baths2BR,1.5BA$1.78
Mallard LakeSuperior2BR,2BA$1.92
Arrive GlenviewA11BR,1BA$2.43
Stonebridge of Arlington Heights1x1 A Reno1BR,1BA$2.01
Briarwood Terrace ApartmentsColonial 11BR,1BA$1.78
Lake+House Apartments1 Bedroom1BR,1BA$2.34
Mandalane1A1BR,1BA$2.40

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Prospect Heights

What type of rentals are currently available in Prospect Heights?

There are currently 295 Apartments for Rent in Prospect Heights, IL with pricing that ranges from $1,095 to $10,890. There are also 73 Single Family Homes for rent, Condos, and Townhome rentals currently available in Prospect Heights ranging from $1,500 to $5,500.

What is the current price range for Rental Homes in Prospect Heights?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Prospect Heights ranges from $1,500 to $5,500 with an average monthly rent of $2,711.

How much are larger Three and Four Bedroom Rentals in Prospect Heights?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Prospect Heights range from $1,891 to $3,740, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,490 to $5,500. Four Bedroom Single-Family rentals are also available starting from $3,000 and Four Bedroom Apartments start at $10,000.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.