Cheap Apartments for Rent in Third Lake, IL from $700 (48 Rentals)

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Search the lowest-cost Apartments available for rent right now in Third Lake.

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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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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Grayslake Apartments
1 Bedroom Apartments

Grayslake Apartments

325-365 Neville DrGrayslake, IL 60030
Senior Living
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Lakewood Tower
1 to 2 Bedroom Apartments

Lakewood Tower

320 N Milwaukee AveLake Villa, IL 60046
Senior Living
  • Utilities Included

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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Brookstone Apartments
1 to 2 Bedroom Apartments

Brookstone Apartments

4247 Hickory Hills DrWaukegan, IL 60087
  • Utilities Included
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84 W Belvidere Rd
2 Bedroom Apartments

84 W Belvidere Rd

84 W Belvidere RdGrayslake, IL 60030
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215 E Park Ave
1 to 2 Bedroom Apartments

215 E Park Ave

215 E Park AveLibertyville, IL 60048
  • Utilities Included

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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Showing Results 1-48, Page 1 of 1

Third Lake, IL Local Guide

Cheapest Available Third Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Third Lake, IL is a 1 Bed unit found at Kings Court Apartments in the Norshore Park neighborhood priced from $1,150. Briarwood Apartments in the Pleasant Hill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,175. Here is today’s list of the most affordable Third Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Kings Court Apartments1 bd1BR,1BA$1,150
Briarwood Apartments1BR/1BA1BR,1BA$1,175
Imperial Tower ApartmentsThe Park PlaceStudio,1BA$1,190
Rosewood Round Lake2 Bedroom2BR,1BA$1,244
Heritage Green1BR/1BA1BR,1BA$1,250
534 E Washington StOne bed/One bath1BR,1BA$1,325
Water's Edge Apartments1 Bdrm/1 Bath1BR,1BA$1,365
Woodview Apartments1BR/1BA1BR,1BA$1,400
Lakeview Terrace ApartmentsTwo Bedroom2BR,1BA$1,400
Fox CrestFox Den2BR,1BA$1,440

Best Value Apartments for Rent in Third Lake, IL and Nearby

As of April 29, 2026 the best value apartment in the Third Lake area is the $1.73 price per square foot Accera Model at Deercrest of Antioch in the in the Grant's Grove neighborhood starting from $2,575. The second greatest value Third Lake apartment is the Waiting List Model at Northline Apartments starting at $1,990 with a $1.52 price per square foot in the Downtown Libertyville neighborhood. Here is today’s list of the best values for Third Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Deercrest of AntiochAccera2BR,2.5BA$1.73
Northline ApartmentsWaiting List2BR,2BA$1.52
Lakeview Terrace ApartmentsTwo Bedroom2BR,1.5BA$1.37
Grays Pointe Apartments2 Bedroom Platinum2BR,1.5BA$1.56
Rosewood Round Lake2 Bedroom2BR,1BA$1.32
The Lakes at Fountain Square Apartment HomesOntario2BR,1BA$1.70
Fox CrestFox Den2BR,1.5BA$1.75
Kings Court Apartments1 bd1BR,1BA$1.44
Heritage Green1BR/1BA1BR,1BA$1.67
Briarwood Apartments1BR/1BA1BR,1BA$1.72

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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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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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 Third Lake, IL Rentals by Map

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See the most popular apartments and homes in Third Lake, IL

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Frequently Asked Questions about Cheap Third Lake Apartments

How much is rent for a Cheap One Bedroom Third Lake Apartment?

The lowest price for a Cheap One Bedroom Third Lake Apartment is $1,150 at Kings Court Apartments.

What is the lowest price for a Cheap Two Bedroom Third Lake Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Third Lake is starting from $1,244 at Rosewood Round Lake.

What is the most affordable Third Lake Three Bedroom Apartment?

The best deal on a cheap Third Lake Three Bedroom Apartment rental is at Deercrest of Antioch and starts from $2,850.

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

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

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