Cheap Apartments for Rent near Tower Lakes, IL from $500 (51 Rentals)

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Search the lowest-cost Apartments available for rent right now in Tower Lakes.

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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Station 250
Rent Specials
$1,716 - $3,651
Total Monthly Price

Total Monthly Price

Base Rent
$1,716 - $3,651
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Station 250

250 Plaza CirMundelein, IL 60060
Corporate Housing
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Water's Edge
Rent Specials
$1,965 - $2,952
Total Monthly Price

Total Monthly Price

Base Rent
$1,965 - $2,952
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1 to 3 Bedroom Apartments Available Now

Water's Edge

311 Waters Edge DrCrystal Lake, IL 60014
Family Friendly
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Albion on Lake Cook
Rent Specials
$1,979 - $4,175
Total Monthly Price

Total Monthly Price

Base Rent
$1,979 - $4,175
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1 to 3 Bedroom Apartments Available Now

Albion on Lake Cook

500 E Constitution DrPalatine, IL 60074
Student Living
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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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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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Villas By The Lake
1 to 2 Bedroom Apartments

Villas By The Lake

300 Lakeside DrVernon Hills, IL 60061
  • 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

Tower Lakes, IL Local Guide

Cheapest Available Tower Lakes Apartments for Rent and Nearby

 

The cheapest available apartment rental in Tower Lakes, IL is a 1 Bed unit found at Cary Horizon in the Arrowhead neighborhood priced from $570. Wauconda Park Apartments in the Liberty Lakes - Freedom Series neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. Here is today’s list of the most affordable Tower Lakes apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cary Horizon1 Bedroom - 30-60%1BR,1BA$570
Wauconda Park Apartments1 Bed / 1 Bath1BR,1BA$1,200
Rosewood Round Lake2 Bedroom2BR,1BA$1,244
The Church Street Apartments1 Bedroom1BR,1BA$1,400
Heritage Green Apartments1 BR/1BA1BR,1BA$1,445
Darlington Court ApartmentsOne bed One bath1BR,1BA$1,477
Lakeside Village Apartments1 BED / 1.0 BATH, 710 SQ FT MID LEVEL1BR,1BA$1,485
Stone Edge Apartments2 Bed 2 Bath2BR,2BA$1,500
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1,500
Park Butterfield ApartmentsStudio Floor Plan S1Studio,1BA$1,517

Best Value Apartments for Rent in Tower Lakes, IL and Nearby

As of July 26, 2026 the best value apartment in the Tower Lakes area is the $1.80 price per square foot 2BR/2.0BA Model at Morris Station in the in the Central Vernon Hills neighborhood starting from $2,451. The second greatest value Tower Lakes apartment is the 2/2 Model at Eastbanks of Lake Zurich starting at $2,395 with a $1.91 price per square foot in the Hawthorn Woods Country Club neighborhood. Here is today’s list of the best values for Tower Lakes apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Morris Station2BR/2.0BA2BR,2BA$1.80
Eastbanks of Lake Zurich2/22BR,2BA$1.91
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.25
Stone Edge Apartments2 Bed 2 Bath2BR,2BA$1.36
The Church Street Apartments1 Bedroom1BR,1BA$1.40
Crystal Lake Apartments2 Bedroom Townhome with Firepl2BR,1BA$1.96
The Clayson2 Bedrooms2BR,1BA$1.90
Rosewood Round Lake2 Bedroom2BR,1BA$1.32
Cary Horizon2 Bedroom - 60%2BR,1BA$1.56
Heritage Green Apartments1 BR/1BA1BR,1BA$1.93

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 Tower Lakes, IL Rentals by Map

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Frequently Asked Questions about Cheap Tower Lakes Apartments

How much is rent for a Cheap One Bedroom Tower Lakes Apartment?

The lowest price for a Cheap One Bedroom Tower Lakes Apartment is $570 at Cary Horizon.

What is the lowest price for a Cheap Two Bedroom Tower Lakes Apartment for rent?

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

What is the most affordable Tower Lakes Three Bedroom Apartment?

The best deal on a cheap Tower Lakes Three Bedroom Apartment rental is at Oakbrook Estates- Senior 55+ Community and starts from $1,500.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.