Cheap Homes for Rent in Island Lake, IL from $1,200 (10 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Island Lake.

property at 213 S Main St

213 S Main St

WaucondaIL60084
Showing Results 1-10, Page 1 of 1

Island Lake, IL Local Guide

Cheapest Available Island Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Island Lake, IL is a 1 Bed unit found at Garden Quarter Apartments in the Lincoln Hills neighborhood priced from $1,199. 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 Island Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Garden Quarter Apartments1 Bed, 1 bath1BR,1BA$1,199
Wauconda Park Apartments1 bed/1 bath1BR,1BA$1,200
Timber Oaks (Patriot Oaks)1 Bedroom 1 Bathroom1BR,1BA$1,215

Best Value Apartments for Rent in Island Lake, IL and Nearby

As of April 15, 2025 the best value apartment in the Island Lake area is the $1.81 price per square foot Willowood Model at Redwood Crystal Lake in the in the Park Place neighborhood starting from $2,499. The second greatest value Island Lake apartment is the 2 Bedroom Model at The Church Street Apartments starting at $2,000 with a $1.49 price per square foot in the Park Place neighborhood. Here is today’s list of the best values for Island Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Redwood Crystal LakeWillowood2BR,2BA$1.81
The Church Street Apartments2 Bedroom2BR,2BA$1.49
The Meadows Apartments LakemoorTownhome2BR,2.5BA$1.52
Eastbanks of Lake Zurich2/22BR,2BA$1.85
Oakbrook Estates- Senior 55+ CommunityChampion Single Wide3BR,2BA$1.42
River PlaceResidence #5, 6, 7 and 8 (Plus Den)1BR,2BA$1.68
Taylor Place2br 2ba2BR,2BA$1.28
Wauconda Park Apartments1 bed/1 bath1BR,1BA$1.71
Garden Quarter Apartments1 Bed, 1 bath1BR,1BA$1.78
Timber Oaks (Patriot Oaks)1 Bedroom 1 Bathroom1BR,1BA$1.89

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

Frequently Asked Questions about Island Lake

What type of rentals are currently available in Island Lake?

There are currently 54 Apartments for Rent in Island Lake, IL with pricing that ranges from $1,100 to $3,480. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Island Lake ranging from $1,245 to $5,000.

What is the current price range for Rental Homes in Island Lake?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Island Lake ranges from $1,245 to $5,000 with an average monthly rent of $2,607.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.