696 Elm Pl
Highland ParkIL60035
Cheap Homes for Rent in Lake Forest, IL from $1,600 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Lake Forest.
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.
3353 Beacon St
North ChicagoIL60064
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
550 Vine Ave
Highland ParkIL60035
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.
232 S Central Ave
HighwoodIL60040
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
246 Green Bay Rd
HighwoodIL60040
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Lake Forest, IL Local Guide
Market Square by Slo-mo is licensed under CC BY-SA 3.0
How much does it cost to rent a home in Lake Forest?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Forest 2 Bedroom Homes for Rent | $3,509 | $1,950 | $4,800 |
| Lake Forest 3 Bedroom Homes for Rent | $3,986 | $2,395 | $7,800 |
| Lake Forest 4 Bedroom Homes for Rent | $3,775 | $3,600 | $3,950 |
| Lake Forest 5 Bedroom Homes for Rent | $7,747 | $3,495 | $10,000+ |
Browse Top Homes for Rent in Lake Forest
Explore Lake Forest
Lake Forest, IL Local Guide
- Lake Forest Neighborhoods
- Nearby Cities
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- Local Counties
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Cheapest Available Lake Forest Apartments for Rent and Nearby
The cheapest available apartment rental in Lake Forest, IL is a 1 Bed unit found at Deer Valley Apartments in the Downtown Lake Forest neighborhood priced from $2,004. Webster Place in the Fort Sheridan neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $4,125. Here is today’s list of the most affordable Lake Forest apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Deer Valley Apartments | One Bedroom - Premium Renovation | 1BR,1BA | $2,004 |
| Webster Place | 3BR/2.5BA | 3BR,2BA | $4,125 |
| The Residences at Amberley Woods | M | 2BR,2BA | $5,200 |
Best Value Apartments for Rent in Lake Forest, IL and Nearby
As of May 16, 2025 the best value apartment in the Lake Forest area is the $2.46 price per square foot M Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $5,200. The second greatest value Lake Forest apartment is the 3BR/2.5BA Model at Webster Place starting at $4,125 with a $2.00 price per square foot in the Fort Sheridan neighborhood. Here is today’s list of the best values for Lake Forest apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Residences at Amberley Woods | M | 2BR,2.5BA | $2.46 |
| Webster Place | 3BR/2.5BA | 3BR,2.5BA | $2.00 |
| Deer Valley Apartments | One Bedroom - Premium Renovation | 1BR,1BA | $2.76 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Lake Forest
What type of rentals are currently available in Lake Forest?
There are currently 60 Apartments for Rent in Lake Forest, IL with pricing that ranges from $1,385 to $8,090. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Forest ranging from $1,695 to $12,000.
What is the current price range for Rental Homes in Lake Forest?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Forest ranges from $1,695 to $12,000 with an average monthly rent of $3,810.
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.
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.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.