close
View Me
Cheap Apartments for Rent in the Downtown Chicago Neighborhood of Chicago, IL from $700 (201 Rentals)Page 5 of 5
Search the lowest-cost Apartments available for rent right now in the Downtown Chicago area of Chicago.
Downtown Chicago, Chicago, IL Local Guide
How much does it cost to rent an apartment in Downtown Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Chicago Studio Apartments | $2,669 | $1,099 | $8,589 |
| Downtown Chicago 1 Bedroom Apartments | $3,322 | $1,350 | $10,000+ |
| Downtown Chicago 2 Bedroom Apartments | $4,718 | $1,250 | $10,000+ |
| Downtown Chicago 3 Bedroom Apartments | $7,157 | $1,695 | $10,000+ |
| Downtown Chicago 4 Bedroom Apartments | $3,661 | $1,175 | $10,000+ |
Explore Chicago
Let everyone know!
Do you know the Downtown Chicago area?
If you’re an expert on all things Downtown Chicago, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Frequently Asked Questions about Cheap Downtown Chicago Apartments
What is a cheap apartment in Downtown Chicago?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Chicago is under $1,345.
What is the price of a cheap apartment in Downtown Chicago?
The cheapest apartment in Downtown Chicago is Prairie Shores which is listed at $1,419, while the average apartment in Downtown Chicago costs $5,904.
What types of apartments are the cheapest in Downtown Chicago?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 124 regular apartments in Downtown Chicago that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown Chicago?
Cheap apartments in Downtown Chicago have an average cost of $618 which is $5,286 cheaper than the average rent for all rentals in Downtown Chicago.
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.
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.
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.
Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.
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.