Cheap Apartments for Rent by Owner in Chicago, IL from $400 (85 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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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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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.

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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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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.