Cheap Homes for Rent in Schaumburg, IL from $1,300 (41 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Schaumburg.

property at 520 Hill Dr

520 Hill Dr, Unit 304

520 Hill Dr
Hoffman EstatesIL60169

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.

Read Article

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.

Read Article
property at 181 Inverness Ct

181 Inverness Ct

Elk Grove VillageIL60007
property at 33 Azalea Dr

33 Azalea Dr

SchaumburgIL60173

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.

Read Article

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

Read Article
Showing Results 1-41, Page 1 of 1

Schaumburg, IL Local Guide

Cheapest Available Schaumburg Apartments for Rent

 

The cheapest available apartment rental in Schaumburg, IL is a Studio unit found at Enclave Apartments of Hoffman Estates in the East Streamwood neighborhood priced from $1,150. Orchard Hills Apartments in the East Streamwood neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,195. Here is today’s list of the most affordable Schaumburg apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Enclave Apartments of Hoffman EstatesStudioStudio,2BA$1,150
Orchard Hills ApartmentsA1BR,1BA$1,195
Plum GroveTwo Room StudioStudio,1BA$1,300
Colonial VillageOne Bedroom, Standard1BR,1BA$1,355
Village in the Park ApartmentsHawthorne1BR,1BA$1,415
Hoffman Hills Apartments1 Bed 1 Bath Remodel1BR,1BA$1,475
Village Park Apartments, LLCA1/3-700-X1BR,1BA$1,495
21 Kristin1x1P - (Partial)1BR,1BA$1,499
Willow Crossing ApartmentsLily1BR,1BA$1,509
Barrington Lakes ApartmentsOne Bedroom1BR,1BA$1,510

Best Value Apartments for Rent in Schaumburg, IL

As of May 19, 2025 the best value apartment in the Schaumburg area is the $1.84 price per square foot 2BR/2.0BA Model at Roselle Station Apartments in the starting from $2,443. The second greatest value Schaumburg apartment is the Algonquin Model at The Preserve at Woodfield starting at $2,400 with a $1.85 price per square foot in the Des Plaines Arlington Hts Corridor neighborhood. Here is today’s list of the best values for Schaumburg apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Roselle Station Apartments2BR/2.0BA2BR,2BA$1.84
The Preserve at WoodfieldAlgonquin3BR,2BA$1.85
Woodbury Place Apartments3 Bedroom Floor Plan C23BR,2BA$2.07
Willow Bend ApartmentsKing Charles2BR,1.5BA$2.10
Barrington Lakes ApartmentsTwo Bedroom Split2BR,2BA$1.87
Orchard Hills ApartmentsD2BR,1BA$1.67
Hanover Park Blu ApartmentsThe Barrington2BR,1BA$1.86
Colonial VillageOne Bedroom, Standard1BR,1BA$1.72
The Grove at Schaumburg ApartmentsPoppy1BR,1BA$2.12
Willow Crossing ApartmentsLily1BR,1BA$2.16

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Schaumburg

What type of rentals are currently available in Schaumburg?

There are currently 160 Apartments for Rent in Schaumburg, IL with pricing that ranges from $1,150 to $7,768. There are also 165 Single Family Homes for rent, Condos, and Townhome rentals currently available in Schaumburg ranging from $1,350 to $6,950.

What is the current price range for Rental Homes in Schaumburg?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Schaumburg ranges from $1,350 to $6,950 with an average monthly rent of $2,828.

How much are larger Three and Four Bedroom Rentals in Schaumburg?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Schaumburg range from $1,860 to $7,768, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,550 to $4,500. Four Bedroom Single-Family rentals are also available starting from $3,000 and Four Bedroom Apartments start at $3,510.

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

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.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

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.