Cheap Homes for Rent in Mount Prospect, IL from $1,300 (17 Rentals)

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property at 613 W Central Rd

613 W Central Rd

Mount ProspectIL60056

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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property at 675 Pearson St

675 Pearson St

Des PlainesIL60016
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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. The Element in the Downtown Mount Prospect neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,385. 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
The ElementCedar1BR,1BA$1,385
Briarwood Terrace ApartmentsNorthpoint 1 w/ Balcony1BR,1BA$1,425
Ashton Arlington Heights1 Bed/1 Bath1BR,1BA$1,446
Orion ParkViewMonroe1BR,1BA$1,462

Best Value Apartments for Rent in Mount Prospect, IL

As of March 26, 2025 the best value apartment in the Mount Prospect area is the $1.89 price per square foot 65 Dover Dr Model at 65 Dover Dr, Unit 2 in the in the Norma neighborhood starting from $2,650. The second greatest value Mount Prospect apartment is the 2 BR/ 2 BA Model at Piper Lane starting at $1,850 with a $1.48 price per square foot in the Milwaukee Avenue 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.
65 Dover Dr, Unit 265 Dover Dr3BR,1.5BA$1.89
Piper Lane2 BR/ 2 BA2BR,2BA$1.48
Orion Arlington LakesSheridan - Renovated2BR,2BA$2.12
16 W Busse Aveunit 41BR,1BA$1.36
Ashton Arlington Heights2 Bed/2 Bath2BR,2BA$1.87
Circle Hill Apartments2 Bedroom/1.5 Baths2BR,1.5BA$1.78
The Eagles1x1 deluxe1BR,1BA$1.92
488 E 5th Ct, Unit B488 E 5th Ct1BR,1BA$1.63
ReNew Des Plaines NorthDes Plaines North - 1x11BR,1BA$2.13
The ElementCedar1BR,1BA$1.98

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Frequently Asked Questions about Mount Prospect

What type of rentals are currently available in Mount Prospect?

There are currently 429 Apartments for Rent in Mount Prospect, IL with pricing that ranges from $1,160 to $6,181. There are also 66 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mount Prospect ranging from $1,300 to $5,700.

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 $1,300 to $5,700 with an average monthly rent of $2,814.

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.

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.

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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.