Cheap Homes for Rent in Village Of Lakewood, IL from $1,200 (9 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in Village Of Lakewood.

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.

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.

Village Of Lakewood, IL Local Guide

Cheapest Neighborhoods for Apartments in Village Of Lakewood, IL

Pricing Updated: 06/26/2026

Current apartment rentals in the Village Of Lakewood, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Village Of Lakewood Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Turnberry$3,450$1,9502

Cheapest Available Village Of Lakewood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Village Of Lakewood, IL is a 1 Bed unit found at McHenry Commons in the Lincoln Hills neighborhood priced from $576. Fawn Ridge Apartments in the Lincoln Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,273. Here is today’s list of the most affordable Village Of Lakewood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
McHenry CommonsSugar Maple - 30% AMI1BR,1BA$576
Fawn Ridge ApartmentsSummit Plus1BR,1BA$1,273
Willow BrookeOne Bedroom1BR,1BA$1,280

Best Value Apartments for Rent in Village Of Lakewood, IL and Nearby

As of June 26, 2026 the best value apartment in the Village Of Lakewood area is the $1.86 price per square foot TH-A Model at Enclave Crystal Lake Townhomes and Apartments in the in the Park Place neighborhood starting from $3,125. The second greatest value Village Of Lakewood apartment is the Champion Single Wide Model at Oakbrook Estates- Senior 55+ Community starting at $1,500 with a $1.25 price per square foot in the Fox Trails neighborhood. Here is today’s list of the best values for Village Of Lakewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Enclave Crystal Lake Townhomes and ApartmentsTH-A2BR,2.5BA$1.86
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.25
Stone Edge Apartments2 Bed 2 Bath2BR,2BA$1.36
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.82
WoodcreekApt B2BR,2BA$1.60
Residence of Fairway Greens2.1.5B2BR,1.5BA$1.95
311 Barrington Ave Lofts1 Bed Room1BR,1BA$1.75
McHenry CommonsSugar Maple - 60% AMI1BR,1BA$1.70
Fawn Ridge ApartmentsSummit Plus1BR,1BA$1.78
Willow BrookeOne Bedroom1BR,1BA$1.90

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.

Read Article
Decorative image

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.

Read Article
Decorative image

Quick Rent Budget Calculator

How much rent can you afford?

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.

decorative image of people with a giant lease agreement

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Village Of Lakewood, IL Rentals by Map

View Map
Village Of Lakewood, IL Apartments Map
View Map
Village Of Lakewood, IL Rental Homes Map

Frequently Asked Questions about Village Of Lakewood

What type of rentals are currently available in Village Of Lakewood?

There are currently 44 Apartments for Rent in Village Of Lakewood, IL with pricing that ranges from $576 to $4,237. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Village Of Lakewood ranging from $1,210 to $3,650.

What is the current price range for Rental Homes in Village Of Lakewood?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Village Of Lakewood ranges from $1,210 to $3,650 with an average monthly rent of $2,556.

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

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention   article

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.