Cheap Apartments for Rent in Lake Forest, IL from $1,100 (24 Rentals)

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Chicago's Best Affordable Neighborhoods

Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

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246 Green Bay Rd
2 Bedroom Apartments

246 Green Bay Rd

246 Green Bay RdHighwood, IL 60040
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501 Bank Ln
Studio to 1 Bedroom Apartments

501 Bank Ln

501 Bank LnHighwood, IL 60040
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3556 Western Ave
2 Bedroom Apartments

3556 Western Ave

3556 Western AveHighland Park, IL 60035
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460 Green Bay Rd
1 Bedroom Apartments

460 Green Bay Rd

460 Green Bay RdHighwood, IL 60040
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213 Leonard Wood
2 to 5 Bedroom Apartments

213 Leonard Wood

213 Leonard WoodHighland Park, IL 60035
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13-15 Webster Ave
Studio to 3 Bedroom Apartments

13-15 Webster Ave

13-15 Webster AveHighwood, IL 60040
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Webster Place
3 Bedroom Apartments

Webster Place

25 Clay AveHighwood, IL 60040
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17-21 Webster Ave
1 Bedroom Apartments

17-21 Webster Ave

17-21 Webster AveHighwood, IL 60040

Lake Forest, IL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Available Lake Forest Apartments for Rent

 

The cheapest available apartment rental in Lake Forest, IL is a 1 Bed unit found at Arrive North Shore in the Downtown Lake Forest neighborhood priced from $1,885. The Residences at Amberley Woods in the Downtown Lake Forest neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $3,900. Here is today’s list of the most affordable Lake Forest apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Arrive North ShoreAshland1BR,1BA$1,885
The Residences at Amberley WoodsE2BR,2BA$3,900
Bloom Street Townhomes - 425 Bloom StCorner Unit3BR,2BA$5,250

Best Value Apartments for Rent in Lake Forest, IL

As of March 24, 2025 the best value apartment in the Lake Forest area is the $2.69 price per square foot Q Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $7,000. The second greatest value Lake Forest apartment is the Corner Unit Model at Bloom Street Townhomes - 425 Bloom St starting at $5,250 with a $2.63 price per square foot in the Downtown Lake Forest neighborhood. Here is today’s list of the best values for Lake Forest apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Residences at Amberley WoodsQ3BR,3BA$2.69
Bloom Street Townhomes - 425 Bloom StCorner Unit3BR,2.5BA$2.63
345 Park Ave345 Park Ave2BR,1BA$2.22
Arrive North ShoreAshland1BR,1BA$3.20

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Lake Forest Overview

A scenic, luxurious locale situated along the banks of Lake Michigan, Lake Forest is a prime real estate option within the Chicago metro region. Offering stunning views and a myriad of upper-tier amenities, this is one Illinois hot spot that is in demand with good cause.

Why live in Lake Forest, IL?

Home to a number of employers in the health care field, as well as a huge assortment of amenities, schools and retail shopping, Lake Forest is truly a gem of the great state of Illinois. Effortlessly combining natural scenery with distinct, stylish architectural flair, Lake Forest is a must-consider for anyone yearning for a higher caliber of living.

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

Explore Lake Forest, IL Rentals by Map

View MapLake Forest, IL Apartments MapView MapLake Forest, IL Rental Homes Map

Getting Around Lake Forest, IL

Walk Score®

44 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

Frequently Asked Questions about Cheap Lake Forest Apartments

How much is rent for a Cheap One Bedroom Lake Forest Apartment?

The lowest price for a Cheap One Bedroom Lake Forest Apartment is $1,885 at Arrive North Shore.

What is the lowest price for a Cheap Two Bedroom Lake Forest Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lake Forest is starting from $2,070 at Arrive North Shore.

What is the most affordable Lake Forest Three Bedroom Apartment?

The best deal on a cheap Lake Forest Three Bedroom Apartment rental is at Bloom Street Townhomes - 425 Bloom St and starts from $5,250.

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 A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

Written by: Nicole Harms

I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.