Cheap Apartments for Rent in the Downtown Chicago Neighborhood of Chicago, IL from $700 (209 Rentals)

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

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2010 S Loomis St
$8504 Bedroom, 1 Bath Home for RentAvailable Now

2010 S Loomis St

Chicago, IL 60608
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1812 S Throop St
$9504 Bedroom, 2 Bath Home for RentAvailable Feb 28

1812 S Throop St

Chicago, IL 60608
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1119 S Loomis St
$9805 Bedroom, 3 Bath Home for RentAvailable Mar 31

1119 S Loomis St

Chicago, IL 60607
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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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1001 N Damen Ave
$1,2503 Bedroom, 1 Bath Home for RentAvailable Mar 3

1001 N Damen Ave

Chicago, IL 60622
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Showing Results 1-50, Page 1 of 5

Downtown Chicago, Chicago, IL Local Guide

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Downtown Chicago, Chicago, IL

Ranked #2

Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

5.0
Pet Friendly

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Best Local Schools in
Downtown Chicago, Chicago, IL

School data provided by Great Schools

Best Local Schools in
Downtown Chicago, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Central Chicago. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, family-friendly amenities, raising pets, transit options, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Chicago Apartments

What is the Cheapest Studio apartment in Downtown Chicago?

Currently the most affordable Cheap Studio Apartment in Downtown Chicago is at 1011 Clark listed at $995.

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

The lowest price for a Cheap One Bedroom Downtown Chicago Apartment is $1,230 at Maple.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Chicago is starting from $1,300 at 1912 S Throop St.

What is the most affordable Downtown Chicago Three Bedroom Apartment?

The best deal on a cheap Downtown Chicago Three Bedroom Apartment rental is at Eden Commons and starts from $1,798.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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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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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Navigating the World of Low-Income Housing: A Comprehensive Guide

Written by: Kevin Ready

Are you having difficulty keeping up with bills or paying the rent? If so, you are not alone. Many families struggle to keep up with rents that have increased up to 40% in the past decade.

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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.