
Cheap Homes for Rent in Village Of Lakewood, IL from $1,200 (10 Rentals)
Search the lowest-cost Homes available for rent right now in Village Of Lakewood.


627 S Virginia Rd

10 Arrowhead Dr

20 Arrowhead Dr

651 S Virginia Rd
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.

350 College St

1351 Cunat Ct

431 Berkshire Dr

439 Berkshire Dr

1345 Cunat Ct
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

How much does it cost to rent a home in Village Of Lakewood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Village Of Lakewood 2 Bedroom Homes for Rent | $1,855 | $1,499 | $3,197 |
| Village Of Lakewood 3 Bedroom Homes for Rent | $2,600 | $1,950 | $3,650 |
| Village Of Lakewood 4 Bedroom Homes for Rent | $3,262 | $2,900 | $3,900 |
Browse Top Homes for Rent in Village Of Lakewood
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Village Of Lakewood, IL Local Guide
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Cheapest Neighborhoods for Apartments in Village Of Lakewood, IL
Pricing Updated: 04/29/2026Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Turnberry | $2,410 | $1,275 | 3 |
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 Silver Creek Apartments in the Bull Valley Golf Club neighborhood priced from $1,149. Willow Brooke in the Savanna Grove neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,280. Here is today’s list of the most affordable Village Of Lakewood apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Silver Creek Apartments | 1 Bedroom | 1BR,1BA | $1,149 |
| Willow Brooke | One Bedroom | 1BR,1BA | $1,280 |
| Patriot Prairie of Woodstock | 1X1 | 1BR,1BA | $1,355 |
Best Value Apartments for Rent in Village Of Lakewood, IL and Nearby
As of April 29, 2026 the best value apartment in the Village Of Lakewood area is the $1.67 price per square foot 3 Bedroom Model at The Schoolhouse Apartments in the in the Arrowhead neighborhood starting from $2,500. The second greatest value Village Of Lakewood apartment is the One bedroom/long den Model at The Villas At Patriot Estates starting at $1,972 with a $1.47 price per square foot in the Lincoln Hills neighborhood. Here is today’s list of the best values for Village Of Lakewood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Schoolhouse Apartments | 3 Bedroom | 3BR,2BA | $1.67 |
| The Villas At Patriot Estates | One bedroom/long den | 1BR,2.5BA | $1.47 |
| Oakbrook Estates- Senior 55+ Community | Champion Single Wide | 3BR,2BA | $1.42 |
| River Place | Residence #5, 6, 7 and 8 (Plus Den) | 1BR,2BA | $1.82 |
| Woodcreek | Apt B | 2BR,2BA | $1.60 |
| Darlington Court Apartments | Two Bedroom/Two Bath | 2BR,2BA | $1.86 |
| 311 Barrington Ave Lofts | 1 Bed Room | 1BR,1BA | $1.75 |
| Patriot Prairie of Woodstock | 2X1 | 2BR,1BA | $1.79 |
| Meadowdale Apartments | 2 Bedroom 1 Bath 810 sq ft | 2BR,1BA | $1.79 |
| Silver Creek Apartments | 1 Bedroom | 1BR,1BA | $1.70 |
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.
Read ArticleDon'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 ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Village Of Lakewood, IL Rentals by Map
See the most popular apartments and homes in Village Of Lakewood, IL
Frequently Asked Questions about Village Of Lakewood
What type of rentals are currently available in Village Of Lakewood?
There are currently 42 Apartments for Rent in Village Of Lakewood, IL with pricing that ranges from $588 to $4,532. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Village Of Lakewood ranging from $1,275 to $3,900.
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 $1,275 to $3,900 with an average monthly rent of $2,248.
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

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.

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.

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.

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.