
Cheap Apartments for Rent in the Downtown Waukegan Neighborhood of Waukegan, IL from $400 (43 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Waukegan area of Waukegan.


Cinnamon Lake Towers

Harbor Lake

Madison West Apartment

Brookside Knoll

Beechwood at the Preserve

Imperial Tower Apartments

Kings Court Apartments
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.

Briarwood Apartments

3060 Kathe Ln

129 Franklin St

2048 N Sheridan Rd

Heritage Green

10 N Sheridan Rd.

Total Monthly Price
The Chateau Royale

Total Monthly Price
1520 Westmoreland Ave, Unit 2 Bedroom Apartment, Unit 2 Bedroom Apartment
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.

3060 Kathe Ln

Karcher Artspace Lofts

Forest View Manor

Onan Senior Suites

Garden Park Apartments

Washington Manor Apartments

Little Fort Apartments

1740 North Ave
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.

Lakeside Tower Apartments

Pioneer Park

Sunset Village

Chapa Apartments

2850 W Grandville Ave

Regency Village

2000-2030 N Pine St

415 N Sheridan Rd
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.

Hinkston Pond Apartments

Oak Bluff Townhomes

3305 Sunset Ave

1001 Grand Ave

1001 W Grand Ave

1701 North Ave

Linden Flats Apartments

3910 Ellis Ave
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.

Total Monthly Price
1116 Park Ave, Unit UNIT #2, Unit UNIT #2

Shoreline Terrace

771 Greenview St
Downtown Waukegan, Waukegan, IL Local Guide

How much does it cost to rent an apartment in Downtown Waukegan?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Waukegan Studio Apartments | $1,064 | $675 | $1,211 |
| Downtown Waukegan 1 Bedroom Apartments | $1,248 | $775 | $2,036 |
| Downtown Waukegan 2 Bedroom Apartments | $1,762 | $950 | $4,630 |
| Downtown Waukegan 3 Bedroom Apartments | $3,459 | $1,050 | $6,163 |
Browse Apartments in this Neighborhood
There are currently 43 rentals with your search options within a 2 mile radius of the Downtown Waukegan Neighborhood of Waukegan, IL.
See all Apartments in WaukeganExplore Waukegan
Downtown Waukegan, Waukegan, IL Local Guide
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Cheapest Available Downtown Waukegan Apartments for Rent
 The cheapest available apartment rental in the Downtown Waukegan area of Waukegan, IL is a Studio unit found at CASA Apartments - Waukegan priced from $675. Sunset Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $900. Here are the most affordable Downtown Waukegan apartments for rent in Waukegan, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| CASA Apartments - Waukegan | Studio | Studio,1BA | $675 |
| Sunset Village | 1BR/1.0BA | 1BR,1BA | $900 |
| Cinnamon Lake Towers | Studio | Studio,1BA | $1,025 |
| Kings Court Apartments | 1 bd | 1BR,1BA | $1,150 |
| Briarwood Apartments | 1BR/1BA | 1BR,1BA | $1,175 |
| Linden Flats Apartments | 1 BR/1 BTH | 1BR,1BA | $1,235 |
| Madison West Apartment | 1 BR / 1 BA | 1BR,1BA | $1,250 |
| Heritage Green | 1BR/1BA | 1BR,1BA | $1,250 |
| 10 N Sheridan Rd. | 1BR/1.0BA | 1BR,1BA | $1,250 |
| Imperial Tower Apartments | The Grand | 1BR,1BA | $1,265 |
Best Value Apartments for Rent in Downtown Waukegan, IL
As of May 06, 2026 the best value apartment in the Downtown Waukegan area is the $1.47 price per square foot 1520 Westmoreland Ave Model at 1520 Westmoreland Ave, Unit 2 Bedroom Apartment in the in the North Waukegan neighborhood starting from $1,400. The second greatest value Downtown Waukegan apartment is the The Hawk Model at Reserve at Eagle Ridge starting at $1,635 with a $1.74 price per square foot in the Lake Cogardens neighborhood. Here is today’s list of the best values for Downtown Waukegan apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1520 Westmoreland Ave, Unit 2 Bedroom Apartment | 1520 Westmoreland Ave | 2BR,1BA | $1.47 |
| Reserve at Eagle Ridge | The Hawk | 2BR,2BA | $1.74 |
| Imperial Tower Apartments | The Grand | 1BR,1BA | $1.44 |
| Fox Crest | Fox Den | 2BR,1.5BA | $1.75 |
| Kings Court Apartments | 1 bd | 1BR,1BA | $1.44 |
| Madison West Apartment | 1 BR / 1 BA | 1BR,1BA | $1.67 |
| Heritage Green | 1BR/1BA | 1BR,1BA | $1.67 |
| Briarwood Apartments | 1BR/1BA | 1BR,1BA | $1.72 |
| Sunset Village | 1BR/1.0BA | 1BR,1BA | $1.64 |
| CASA Apartments - Waukegan | Studio | Studio ,1BA | $1.35 |
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.
Read Article10 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.
Best Local Schools in Downtown Waukegan, Waukegan, IL
Waukegan High School
School data provided by Great Schools
Lifestyle Ratings
Our team of engineers and researchers compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Waukegan. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap Downtown Waukegan Apartments
What is the price of a cheap apartment in Downtown Waukegan?
The cheapest apartment in Downtown Waukegan is CASA Apartments - Waukegan which is listed at $775, while the average apartment in Downtown Waukegan costs $3,754.
What types of apartments are the cheapest in Downtown Waukegan?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 7 regular apartments in Downtown Waukegan that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.