Cheap Apartments for Rent in Chicago, IL from $400 (2,445 Rentals)

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Search the lowest-cost Apartments available for rent right now in Chicago.

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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Chicago, IL Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Chicago, IL

Pricing Updated: 03/05/2025

Current apartment rentals in the Chicago, IL area range in price from $530 to $77,776 with an overall median price of $3,076. The three Chicago neighborhoods with the lowest median rent pricing are Pullman at $885, Beverly at $1,000, and West Calumet at $1,049. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Chicago Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Pullman$950$88579
Beverly$1,000$1,00012
West Calumet$1,050$1,04917
Brainerd$1,200$1,2009
Country Aire$1,200$1,20014
Clearing$1,250$1,25010
Liverpool$1,296$7401272
Thornwood District$1,388$860207
Chicago Lawn$1,425$865304
Gage Park$1,450$975276

Cheapest Available Chicago Apartments for Rent

 

The cheapest available apartment rental in Chicago, IL is a Studio unit found at 5445 Ingleside By 3L Living in the Hyde Park neighborhood priced from $600. 1155 W 83rd St in the Englewood neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Chicago apartments for rent:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$600
1155 W 83rd StStudioStudio,1BA$650
5540 Hyde Park by 3L Living_5540 - Single - WestStudio,1BA$699
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$699
6238-44 S Western AveStudioStudio,1BA$725
2235 E 71st StStudio ApartmentStudio,1BA$735
6246 S. King Dr.Two rm StudioStudio,1BA$750
7850 S Constance AveStudio ApartmentStudio,1BA$760
8152 S EvansStudio ApartmentStudio,1BA$765
7715 S South Shore DrStudio ApartmentStudio,1BA$775

Best Value Apartments for Rent in Chicago, IL

As of March 06, 2025 the best value apartment in the Chicago area is the $0.48 price per square foot 3134 W Carroll Ave Model at 3134 W Carroll Ave, Unit 2 in the in the East Garfield Park neighborhood starting from $4,800. The second greatest value Chicago apartment is the 3134 W Carroll Ave Model at 3134 W Carroll Ave, Unit 2 starting at $4,800 with a $0.48 price per square foot in the East Garfield Park neighborhood. Here is today’s list of the best values for Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3134 W Carroll Ave, Unit 23134 W Carroll Ave6BR,2BA$0.48
3134 W Carroll Ave, Unit 23134 W Carroll Ave6BR,2BA$0.48
3134 W Carroll Ave, Unit 23134 W Carroll Ave6BR,2BA$0.48
3035 N Southport Ave, Unit A07C3035 N Southport Ave2BR,1.5BA$0.79
5100 W Fulton St, Unit 15100 W Fulton St4BR,2BA$0.87
3042 N Ashland Ave, Unit 33042 N Ashland Ave3BR,1BA$0.76
4525 S Christiana Ave, Unit First floor4525 S Christiana Ave3BR,1BA$0.84
8227 S Clyde Ave, Unit 2nd fl8227 S Clyde Ave2BR,1BA$0.88
8046 S Maryland Ave, Unit 28046 S Maryland Ave2BR,1BA$0.87
2440 W 63rd St, Unit 12440 W 63rd St3BR,1BA$0.83

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Chicago Overview

Chicago is one of the largest and liveliest cities in the United States with a thriving economy, an active nightlife and some of the world's most historic buildings and landmarks making it a very popular place to call home. The school system and metropolitan offerings make Chicago one of the best places to live in the Midwest in addition to being a premiere tourist destination. The options for cheap apartments in Chicago as well as rental homes, condos, and townhomes in the area make it a renters dream come true.

Why live in Chicago, IL?

With its numerous shops and local cuisine, a bustling nightlife, a strong economy and an efficient if busy transportation system, Chicago is truly the gem of the Midwest. While school districts vary from one area to the next, Chicago is a hub for some of the world's best schools, universities and hospitals, making it an ideal place to settle down. As home to some of the leading universities in the world, Chicago offers plenty of opportunities for its residents to grow up, get an education and find work in its diverse and thriving economy.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Chicago, IL Rentals by Map

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See the most popular apartments and homes in Chicago, IL

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Getting Around Chicago, IL

Walk Score®

83 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

77 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

66 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Chicago Apartments

What is the Cheapest Studio apartment in Chicago?

Currently the most affordable Cheap Studio Apartment in Chicago is at 5445 Ingleside By 3L Living listed at $600.

How much is rent for a Cheap One Bedroom Chicago Apartment?

The lowest price for a Cheap One Bedroom Chicago Apartment is $750 at 1155 W 83rd St.

What is the lowest price for a Cheap Two Bedroom Chicago Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Chicago is starting from $915 at 7801-13 S Essex.

What is the most affordable Chicago Three Bedroom Apartment?

The best deal on a cheap Chicago Three Bedroom Apartment rental is at Southland Village and starts from $1,100.

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.

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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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.