Cheap Homes for Rent in Schaumburg, IL from $1,500 (21 Rentals)

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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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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,1BA$1,150
Orchard Hills ApartmentsA1BR,1BA$1,195
Plum GroveTwo Room StudioStudio,1BA$1,300
Colonial VillageOne Bedroom, Standard1BR,1BA$1,355
Hanover Park Blu ApartmentsThe Lincoln1BR,1BA$1,370

Best Value Apartments for Rent in Schaumburg, IL

As of March 26, 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 3 Bedroom Floor Plan C2 Model at Woodbury Place Apartments starting at $2,572 with a $2.06 price per square foot in the West Streamwood 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
Woodbury Place Apartments3 Bedroom Floor Plan C23BR,2BA$2.06
The Ponds on Plum Grove3x2Pier3BR,2BA$1.84
Remington Place ApartmentsIris Plus2BR,2BA$2.15
Orchard Hills ApartmentsD2BR,1BA$1.67
Barrington Lakes ApartmentsOne Bedroom1BR,1BA$1.80
Orion Elk GroveThe Osprey2BR,2BA$2.19
The Preserve at WoodfieldElk1BR,1BA$1.78
Colonial VillageOne Bedroom, Standard1BR,1BA$1.72
Hanover Park Blu ApartmentsThe Lincoln1BR,1BA$2.03

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Frequently Asked Questions about Schaumburg

What type of rentals are currently available in Schaumburg?

There are currently 162 Apartments for Rent in Schaumburg, IL with pricing that ranges from $1,150 to $8,622. There are also 123 Single Family Homes for rent, Condos, and Townhome rentals currently available in Schaumburg ranging from $1,550 to $3,700.

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 $1,550 to $3,700 with an average monthly rent of $2,605.

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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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.