1309 S Sir Galahad Ln
Mount ProspectIL60056
Cheap Apartments for Rent in the Downtown Mount Prospect Neighborhood of Mount Prospect, IL from $900 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Mount Prospect area of Mount Prospect.
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from $1,4491 to 3 Bedroom Apartments Available Now
Mount Prospect Greens
2000 W Algonquin RdMount Prospect, IL 60056
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from $1,4521 to 2 Bedroom Apartments Available May 21
The Eclipse at 1450
1450 S Busse RdMount Prospect, IL 60056
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.
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Rent Specials
from $1,4951 Bedroom Apartments Contact Us For Availability
16 W Busse Ave
16 W Busse AveMount Prospect, IL 60056
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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.
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from $1,245Studio to 3 Bedroom Apartments Available Now
ReNew Des Plaines North
270-290 S Beau DrDes Plaines, IL 60016
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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.
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from $1,4401 Bedroom Apartment Available Jun 2
920 E Shady Way, Unit 6
920 E Shady WayArlington Heights, IL 60005
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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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Showing Results 1-15, Page 1 of 1
Downtown Mount Prospect, Mount Prospect, IL Local Guide
Camp Pine Woods Illinoisc by Amanda Landers is licensed under CC BY 2.0
How much does it cost to rent an apartment in Downtown Mount Prospect?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Mount Prospect Studio Apartments | $2,169 | $1,245 | $2,946 |
| Downtown Mount Prospect 1 Bedroom Apartments | $2,061 | $1,300 | $3,999 |
| Downtown Mount Prospect 2 Bedroom Apartments | $2,777 | $1,607 | $4,909 |
| Downtown Mount Prospect 3 Bedroom Apartments | $3,457 | $2,100 | $8,357 |
Browse Apartments in this Neighborhood
There are currently 15 rentals with your search options within a 2 mile radius of the Downtown Mount Prospect Neighborhood of Mount Prospect, IL.
See all Apartments in Mount ProspectExplore Mount Prospect
Downtown Mount Prospect, Mount Prospect, IL Local Guide
- Nearby Mount Prospect neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Downtown Mount Prospect Apartments for Rent
The cheapest available apartment rental in the Downtown Mount Prospect area of Chicago, IL is a 1 Bed unit found at Orion ParkView priced from $1,464. ReNew Des Plaines North has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,510. Here are the most affordable Downtown Mount Prospect apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Orion ParkView | Monroe | 1BR,1BA | $1,464 |
| ReNew Des Plaines North | Des Plaines North - 1x1 | 1BR,1BA | $1,510 |
| The Element | Cedar | 1BR,1BA | $1,513 |
| Residences at Arlington Heights | The Meadow | 1BR,1BA | $1,534 |
| Mount Prospect Greens | 1x1BP - Partial Renovated Arlington | 1BR,1BA | $1,589 |
Best Value Apartments for Rent in Downtown Mount Prospect, IL
As of May 17, 2025 the best value apartment in the Downtown Mount Prospect area is the $1.87 price per square foot 651 Beau Ct Model at 651 Beau Ct, Unit # 3 in the in the Downtown Mount Prospect neighborhood starting from $2,800. The second greatest value Downtown Mount Prospect apartment is the Lincoln - Renovated Model at Orion Arlington Lakes starting at $1,978 with a $1.87 price per square foot in the Downtown Mount Prospect neighborhood. Here is today’s list of the best values for Downtown Mount Prospect apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 651 Beau Ct, Unit # 3 | 651 Beau Ct | 3BR,2BA | $1.87 |
| Orion Arlington Lakes | Lincoln - Renovated | 1BR,1BA | $1.87 |
| Buckingham | a3-buck | 1BR,1BA | $2.22 |
| Mount Prospect Greens | 2x1AR - Renovated Evanston | 2BR,1BA | $2.14 |
| 488 E 5th Ct, Unit B | 488 E 5th Ct | 1BR,1BA | $1.63 |
| Central Park East | A1 | 1BR,1BA | $2.68 |
| Orion ParkView | Monroe - Renovated | 1BR,1BA | $2.43 |
| ReNew Des Plaines North | Des Plaines North - 1x1 | 1BR,1BA | $2.13 |
| The Element | Cedar | 1BR,1BA | $2.16 |
| Residences at Arlington Heights | The Woodfield | 1BR,1BA | $2.60 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDowntown Mount Prospect, Mount Prospect, IL
Ranked #2
Among neighborhoods in Mount Prospect, IL for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Mount Prospect, Mount Prospect, IL
Lions Park Elementary School
Mount Prospect School District 57
Public School - Grades 2-5 (454)
9 out of 10
School data provided by Great Schools
Getting Around the Downtown Mount Prospect Neighborhood in Mount Prospect, IL
Walk Score®
79 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
60 / 100
Bikeable
Some bike infrastructure
Transit Score®
34 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Downtown Mount Prospect Apartments
What is a cheap apartment in Downtown Mount Prospect?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Mount Prospect is under $1,978.
What is the price of a cheap apartment in Downtown Mount Prospect?
The cheapest apartment in Downtown Mount Prospect is Orion ParkView which is listed at $1,464, while the average apartment in Downtown Mount Prospect costs $2,518.
What types of apartments are the cheapest in Downtown Mount Prospect?
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 17 regular apartments in Downtown Mount Prospect that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown Mount Prospect?
Cheap apartments in Downtown Mount Prospect have an average cost of $405 which is $2,113 cheaper than the average rent for all rentals in Downtown Mount Prospect.
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.