Average Rent in Lake Forest, IL

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Current Versus Historical Lake Forest, IL Rents

Lake Forest rentals average $1,395 for a studio rental to $10,000 for a 4-bedroom rental. The median price of all currently available listings is $4,738, or roughly $30 per square feet.

For the apartment units and housing in June 2026, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $40 (2.92%) year-over-year from $1,355 to $1,395. 1-bedroom rentals prices have decreased by $5 (-0.28%) year-over-year from $1,805 to $1,800. 2-bedroom rentals prices have decreased by $868 (-30.30%) year-over-year from $2,866 to $1,998. 3-bedroom rentals prices have increased by $29 (0.73%) year-over-year from $4,021 to $4,050. 4-bedroom rentals prices have decreased by $1,170 (-8.56%) year-over-year from $13,670 to $12,500. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.71% this month. 1-bedroom rents have gone down by 0.00% this month. 2-bedroom rents have gone down by 18.14% this month. 3-bedroom rents have gone down by 14.44% this month. 4-bedroom rents have gone up by 48.53% this month.

Beds	Price / Sqft	Jun 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$46.24	$1,395	$1,355 (2.92%)	$1,170 (19.23%)
2 BR	$26.28	$1,998	$2,866 (-30.30%)	$4,118 (-51.49%)
3 BR	$31.13	$4,050	$4,021 (0.73%)	$3,921 (3.29%)
4+ BR	$28.68	$12,500	$13,670 (-8.56%)	$5,380 (132.34%)

Historical Rents in Lake Forest, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Lake Forest

There are a total of 1 cities nearby Lake Forest. The average rent in Lake Forest is currently $2,820 per month. Only one city nearby has an average rent lower than that. Our records show that Vernon Hills, IL, with an average rent of $2,820, is the most affordable city nearby. In contrast, the most expensive city near Lake Forest, IL is Vernon Hills, IL. Monthly rents here are on average $2,820 per month.

Let's compare Lake Forest, IL's rent against other top cities nearby by bedroom size. Two bedrooms in Lake Forest, IL are about 15.98% more expensive. Finally, rent for three bedrooms are about 11.11% more expensive. Want more information? Check out the top 1 cities near Lake Forest, IL in the following table.

City	Studio	1 Bed	2 Bed	All
Vernon Hills, IL	N/A	$2,038	$2,300	$2,820

Top Neighborhoods Near Lake Forest

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Lake Forest

There are a total of 6 counties located by Lake Forest, IL. Some of these counties include Moraine, IL, Libertyville, IL, and Wheeling, IL. The average rent for rentals in these counties is $2,794. That's roughly around $25 per sqft. A total of 6 counties have a lower average rent. The county that is the most affordable is Moraine, IL. Its average rent per month is $2,350. Vice versa, with an average rent of $3,295, Northfield, IL is the most expensive county by Lake Forest, IL.

Rent for two bedrooms in Lake Forest, IL is 10.05% more expensive than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Moraine, IL	$1,795	$1,995	$3,075	$2,350
Libertyville, IL	N/A	$2,065	$2,250	$2,600
Wheeling, IL	N/A	$1,500	$2,150	$2,650
New Trier, IL	$1,645	$1,795	$2,948	$2,938
Vernon, IL	N/A	$1,650	$2,325	$3,007
Northfield, IL	N/A	$2,300	$2,600	$3,295

Top Zipcodes Near Lake Forest

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - Lake Forest Average Rents

What is the average rent price in Lake Forest, IL?

The average monthly rental price for Lake Forest, IL apartments for rent is approximately $4,738. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Lake Forest, IL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Lake Forest, IL.

How much is a studio apartment in Lake Forest, IL?

The average monthly rental price for studio apartments is $1,395 and an average price per square feet of $46.24. There are a total of 1 studio apartment listings currently available for rent in Lake Forest.

How much is a two bedroom apartment in Lake Forest, IL?

The average monthly rental price for two bedroom apartments is $2,738 and an average price per square feet of $26.28. There are a total of 2 two bedroom apartment listings currently available for rent in Lake Forest.

How have rent prices in Lake Forest, IL changed this year?

Rent prices for rentals in Lake Forest, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by -0.30%, three bedroom rental prices have changed by 0.01% year-over-year.

What is a reasonable rent price in Lake Forest, IL?

A reasonable rent price in Lake Forest, IL is around $3,790/month. You can search for these reasonably priced rental listings on RentHop.