Lake Villa, IL Condos for Rent

/5
$1,690 - $1,790

Total Monthly Price
- 2 Beds
- 2 Baths
- 950 Sq Ft
- Condo for Rent
705 Waters Edge Dr, Lake Villa, IL 60046

**Welcome to Waters Edge Apartments**Nestled within a beautifully landscaped community, Waters Edge Apartments offers a serene lakeside setting surrounded by mature trees and natural beauty. Residents enjoy picturesque lake and wooded-area views while remaining just minutes from shopping, dining, and nearby public parks.Designed for those who appreciate peaceful living in a scenic

705 Waters Edge Dr, Lake Villa, IL 60046
Explore Lake Villa
/5
$1,690 - $1,790

Total Monthly Price
- 2 Beds
- 2 Baths
- 950 Sq Ft
- Condo for Rent
705 Waters Edge Dr, Lake Villa, IL 60046

**Welcome to Waters Edge Apartments**Nestled within a beautifully landscaped community, Waters Edge Apartments offers a serene lakeside setting surrounded by mature trees and natural beauty. Residents enjoy picturesque lake and wooded-area views while remaining just minutes from shopping, dining, and nearby public parks.Designed for those who appreciate peaceful living in a scenic

705 Waters Edge Dr, Lake Villa, IL 60046

Illinois Lake County Lake Villa

Frequently Asked Questions

How much does it cost to rent a condo in Lake Villa, IL?

The median rent for a condo in Lake Villa, IL is $1,690 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.

How much do you need to make to afford rent in Lake Villa, IL?

To comfortably afford the median rent in Lake Villa, IL, a household needs to earn roughly $89,800 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,245 per month in Lake Villa, IL, renters typically need to show $6,735 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.

Is it more affordable to rent or buy in Lake Villa, IL?

In Lake Villa, IL, the price-to-rent ratio is 13.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

What neighborhoods in Lake Villa, IL are best for renting a condo?

The best neighborhood for renting in Lake Villa, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Capri Village and Village of Pleasant Prairie, each with its own character and price range.

Condo Rental Trends in Lake Villa, IL

There are currently 2 condos available for rent in Lake Villa, IL. The median rent is $1,690 per month, with 1-bedroom condos renting at $1,250 and 2-bedroom condos at $1,740.

Rental Home Trends

Number of Condos for Rent 2	Median Condo Rent $1,690
Median 1 Bedroom Condo Rent $1,250	Median 2 Bedroom Condo Rent $1,740

How to Rent a Home

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