5

Studio Apartments for Rent in Waukegan, IL

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  • /25

    Starting at $1,050 Per Month

    • Studio - 2 Beds

    1610 Sunset Ave, Waukegan, IL 60087

    Welcome home to Harbor Lake Apartments in Waukegan, IL! We have Studio, 1, and 2 bedroom apartments. Take a stroll on the winding path that surrounds our private lake, unwind by the pool, or relax in the comfort of your generous apartment home. We are the home for you if you are in the mood for shopping, dining, and entertainment. Harbor Lake Apartments is also close to major roads, public

    Harbor Lake

    1610 Sunset Ave, Waukegan, IL 60087
  • /20

    Starting at $1,025 Per Month

    • Studio - 2 Beds

    2701 W Glen Flora Ave, Waukegan, IL 60085

    Call for details!! Cinnamon Lake Towers situates you within minutes of major businesses, great schools, the Great Lakes Training Center, Gurnee Mills and Six Flags Great America Park. Call for details. Income Guidelines Apply!

    Cinnamon Lake Towers

    2701 W Glen Flora Ave, Waukegan, IL 60085
  • /22

    Starting at $675 Per Month

    • Studio - 3 Beds

    2035-2045 Georgetown Ln, Waukegan, IL 60085

    Welcome to CASA Apartments where Low Prices meet High Quality! We offer quality apartments for lowest prices in the area! We are able to accommodate any family size small to large and offer Studio, 1bd, 2bd and 3bd apartments! Our over sized living spaces feature Alarm Systems , Skylights and Dishwashers. Our community amenities include Secure Access and On-Site Maintenance. We are conveniently

    CASA Apartments - Waukegan

    2035-2045 Georgetown Ln, Waukegan, IL 60085
  • /20

    Starting at $1,182

    Total Monthly Price

    • Studio - 2 Beds

    805 Baldwin Ave, Waukegan, IL 60085

    The ever-affordable Imperial Tower Apartments in Waukegan, IL is now offering practical one- and two-bedroom apartment homes with a full suite of in-unit features, like private patios, large closets, and gas ranges. Live here and take advantage of our wonderful fitness center, laundry facilities, and so much more.?The Imperial Tower Apartments is more than a home, it's a space where you can truly

    Imperial Tower Apartments

    805 Baldwin Ave, Waukegan, IL 60085
  • /16

    Starting at $1,175 Per Month

    • Studio - 1 Bed

    515 W Madison St, Waukegan, IL 60085

    Madison West Apartments is a clean and quiet place to live. Located near the downtown area we are close to public transportation including the train station which is a 10 minute walk! Go a little further and you will find yourself at the beach or harbor for a relaxing time on the pier. We are 10 minutes from major highways and large shopping centers. We have on site management as well as on site

    Madison West Apartments

    515 W Madison St, Waukegan, IL 60085

Why Live in Waukegan

Waukegan's mile-long municipal beach along Lake Michigan provides year-round waterfront recreation, while the historic Genesee Theatre brings Broadway shows and national acts to the heart of downtown. The 6.5-mile Illinois Beach State Park showcases diverse plant life and pristine shoreline. Downtown Waukegan features local art galleries, monthly ArtWauk events, and distinctive murals celebrating hometown author Ray Bradbury. The 700-slip Waukegan Harbor and Marina serves as a gateway to Lake Michigan boating and fishing. Local dining ranges from authentic Middle Eastern cuisine at Papa Marco's Grill & Kabob to classic Italian treats at Tina's Italian Bake Shop.

The housing market spans multiple price points across distinct neighborhoods. Single-family homes in Bonnie Brook have a median price of $305,000, while Downtown Waukegan's median price is $145,000. Shore Highlands and Fair Oaks Estates feature single-family homes with median prices of $295,000 and $286,000 respectively. The Greens at Midlane North has a median single-family home price of $265,800. One-bedroom condos throughout Waukegan have a median price of $85,000, while two-bedroom condos have a median price of $225,000.

Property taxes in Lake County stand at 2.68%, with Illinois state income tax at 4.95%. The combined sales tax rate is 8.89%. Commuters benefit from Metra's Union Pacific North Line to Chicago and access to Interstate 94. Top-rated schools include Libertyville High School and St. Patrick School. The Great Lakes Naval Training Center maintains a significant presence in the community.

Frequently Asked Questions

How much does it cost to rent a home in Waukegan, IL?
The median rent for a home in Waukegan, IL is $1,935 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Waukegan, IL?
To comfortably afford the median rent in Waukegan, IL, a household needs to earn roughly $77,400 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 $1,935 per month in Waukegan, IL, renters typically need to show $5,805 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 Waukegan, IL?
In Waukegan, IL, the price-to-rent ratio is 10.6, 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.

Rental Home Trends

Number of Homes for Rent
5
Median Rent
$1,935
Median Single Family Home Rent
$2,100
Median Townhouse Rent
$2,250
Median Condo Rent
$1,500
How to Rent a Home