Cheap Homes for Rent in Grayslake, IL from $1,300 (20 Rentals)

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

property at 1501 Round Lake Dr

1501 Round Lake Dr

Round Lake BeachIL60073

Grayslake, IL Local Guide

Cheapest Neighborhoods for Apartments in Grayslake, IL

Pricing Updated: 04/24/2025

Current apartment rentals in the Grayslake, 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 Grayslake Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Wildwood on Gages Lake$1,925$1,46517

Cheapest Available Grayslake Apartments for Rent

 

The cheapest available apartment rental in Grayslake, IL is a 1 Bed unit found at Brittany Square in the Wildwood on Gages Lake neighborhood priced from $1,465. Grays Pointe Apartments in the Wildwood on Gages Lake neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,500. Here is today’s list of the most affordable Grayslake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brittany Square1A Bedroom1BR,1BA$1,465
Grays Pointe Apartments2 Bedroom Standard2BR,1BA$1,500
Grand OaksPine1BR,1BA$1,622
The Sanctuary of Lake VillaTwo Bedroom One Bath2BR,1BA$1,870

Best Value Apartments for Rent in Grayslake, IL

As of April 24, 2025 the best value apartment in the Grayslake area is the $1.59 price per square foot Two Bedroom Two Bath Model at The Sanctuary of Lake Villa in the in the Heritage Park neighborhood starting from $1,940. The second greatest value Grayslake apartment is the 2 Bedroom Platinum FP Model at Grays Pointe Apartments starting at $1,500 with a $1.56 price per square foot in the Wildwood on Gages Lake neighborhood. Here is today’s list of the best values for Grayslake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Sanctuary of Lake VillaTwo Bedroom Two Bath2BR,2BA$1.59
Grays Pointe Apartments2 Bedroom Platinum FP2BR,1.5BA$1.56
Brittany Square1A Bedroom1BR,1BA$1.95

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Frequently Asked Questions about Grayslake

What type of rentals are currently available in Grayslake?

There are currently 45 Apartments for Rent in Grayslake, IL with pricing that ranges from $1,100 to $3,255. There are also 53 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grayslake ranging from $1,300 to $3,990.

What is the current price range for Rental Homes in Grayslake?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Grayslake ranges from $1,300 to $3,990 with an average monthly rent of $2,716.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.