Cheap Apartments for Rent near Third Lake, IL from $700 (57 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Savanna Ridge
$1,823 - $2,073
Total Monthly Price

Total Monthly Price

Base Rent
$1,823 - $2,073
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Aug 14

Savanna Ridge

18400 W IL Route 120Grayslake, IL 60030
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Grayslake Apartments
1 Bedroom Apartments

Grayslake Apartments

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

Brookstone Apartments

4247 Hickory Hills DrWaukegan, IL 60087
  • Utilities Included

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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239 N Lake St
1 to 2 Bedroom Apartments

239 N Lake St

239 N Lake StGrayslake, IL 60030
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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

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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Showing Results 1-50, Page 1 of 2

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 Briarwood Apartments in the Pleasant Hill neighborhood priced from $1,175. Rosewood Round Lake has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,244. Here is today’s list of the most affordable Third Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Briarwood Apartments1BR/1BA1BR,1BA$1,175
Rosewood Round Lake2 Bedroom2BR,1BA$1,244
Heritage Green1BR/1BA1BR,1BA$1,250
Kings Court Apartments1 bd1BR,1BA$1,250
Willow Wind1 bedroom1BR,1BA$1,400
Woodview Apartments1BR/1BA1BR,1BA$1,400
Lakeview Terrace ApartmentsTwo Bedroom2BR,1BA$1,400
Coventry Glen Apartments1 Bdrm/1 Bath-1st FlrH1BR,1BA$1,445
Grays Pointe Apartments2 Bedroom Standard2BR,1BA$1,500

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

As of July 28, 2026 the best value apartment in the Third Lake area is the $1.52 price per square foot Waiting List Model at Northline Apartments in the in the Downtown Libertyville neighborhood starting from $1,990. The second greatest value Third Lake apartment is the Chestnut Model at Royal Oak Condos & Willows of Greys Lake starting at $1,725 with a $1.59 price per square foot in the Wildwood on Gages Lake 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.
Northline ApartmentsWaiting List2BR,2BA$1.52
Royal Oak Condos & Willows of Greys LakeChestnut2BR,1.5BA$1.59
Lakeview Terrace ApartmentsTwo Bedroom2BR,1.5BA$1.37
Grays Pointe Apartments2 Bedroom Platinum2BR,1.5BA$1.56
Rosewood Round Lake2 Bedroom2BR,1BA$1.32
239 N Lake St2 Beds, 1 Baths2BR,1BA$1.67
Kings Court Apartments1 bd1BR,1BA$1.56
Heritage Green1BR/1BA1BR,1BA$1.67
325 Neville Dr, Unit 1325 Neville Dr1BR,1BA$1.37
Briarwood Apartments1BR/1BA1BR,1BA$1.72

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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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 $1,175 at Briarwood 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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.