Cheap Homes for Rent in Mount Prospect, IL from $1,300 (15 Rentals)

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Mount Prospect, IL Local Guide

Cheapest Available Mount Prospect Apartments for Rent

 

The cheapest available apartment rental in Mount Prospect, IL is a 1 Bed unit found at ReNew Des Plaines South in the Lions Park neighborhood priced from $1,295. Orion ParkView in the Downtown Mount Prospect neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,413. Here is today’s list of the most affordable Mount Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
ReNew Des Plaines SouthDes Plaines South - Efficiency 1 Bedroom1BR,1BA$1,295
Orion ParkViewMonroe1BR,1BA$1,413
Briarwood Terrace ApartmentsNorthpoint 1 w/ Balcony1BR,1BA$1,425
The ElementBirch1BR,1BA$1,430
Ashton Arlington Heights1 Bed/1 Bath1BR,1BA$1,434

Best Value Apartments for Rent in Mount Prospect, IL

As of April 28, 2025 the best value apartment in the Mount Prospect area is the $1.48 price per square foot 2 BR/ 2 BA Model at Piper Lane in the in the Milwaukee Avenue neighborhood starting from $1,850. The second greatest value Mount Prospect apartment is the Lincoln - Renovated Model at Orion Arlington Lakes starting at $2,018 with a $1.90 price per square foot in the Downtown Mount Prospect neighborhood. Here is today’s list of the best values for Mount Prospect apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Piper Lane2 BR/ 2 BA2BR,2BA$1.48
Orion Arlington LakesLincoln - Renovated1BR,1BA$1.90
Circle Hill Apartments2 Bedroom/1.5 Baths2BR,1.5BA$1.78
The Eagles1x1 deluxe1BR,1BA$1.92
Orion ParkViewWells - Renovated2BR,2BA$2.16
488 E 5th Ct, Unit B488 E 5th Ct1BR,1BA$1.63
Ashton Arlington Heights1 Bed/1 Bath1BR,1BA$1.84
ReNew Des Plaines NorthDes Plaines North - 1x11BR,1BA$2.13
The Eclipse at 1450Willow1BR,1BA$2.04
The ElementBirch1BR,1BA$2.19

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Frequently Asked Questions about Mount Prospect

What type of rentals are currently available in Mount Prospect?

There are currently 426 Apartments for Rent in Mount Prospect, IL with pricing that ranges from $1,200 to $7,766. There are also 57 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mount Prospect ranging from $1,350 to $9,000.

What is the current price range for Rental Homes in Mount Prospect?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Mount Prospect ranges from $1,350 to $9,000 with an average monthly rent of $3,043.

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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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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.