Cheap Homes for Rent in Downtown Chicago Neighborhood of Chicago, IL from $600 (149 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Chicago area of 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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property at 2851 S King Dr

2851 S King Dr

ChicagoIL60616
property at 915 W 32nd St

915 W 32nd St

ChicagoIL60608
property at 925 S Laflin St

925 S Laflin St

ChicagoIL60607
property at 47 E Lake St

47 E Lake St

ChicagoIL60601
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Downtown Chicago, Chicago, IL Local Guide

Cheapest Available Downtown Chicago Apartments for Rent

 

The cheapest available apartment rental in the Downtown Chicago area of Chicago, IL is a 4 Beds unit found at McCormick priced from $981. 1011 Clark has the second lowest priced unit, which is a Studio apartment currently listed from $995. Here are the most affordable Downtown Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
McCormickPrivate Bedroom in Shared 4 Bed 3 Bath (B)4BR,3BA$981
1011 ClarkClark - StudioStudio,1BA$995
Prairie ShoresClassic StudioStudio,1BA$1,059
The RosieA2 - 60% AMI AROStudio,1BA$1,147
Gramercy Row ApartmentsStudio Floor Plan S21 666 2FStudio,1BA$1,215
11 W. DivisionStudioStudio,1BA$1,245
768 W. JacksonStudioStudio,1BA$1,295
1036 N. DearbornStudioStudio,1BA$1,295
1912 S Throop St2 Bed/1.5 Bath2BR,1BA$1,300
Elm 551 at ParksideStudioStudio,1BA$1,313

Best Value Apartments for Rent in Downtown Chicago, IL

As of March 22, 2025 the best value apartment in the Downtown Chicago area is the $1.41 price per square foot 730 N Willard Ct Model at 730 N Willard Ct, Unit M04B in the in the West Town neighborhood starting from $3,100. The second greatest value Downtown Chicago apartment is the 1753 W Chicago Ave Model at 1753 W Chicago Ave, Unit M04B starting at $3,450 with a $1.73 price per square foot in the West Town neighborhood. Here is today’s list of the best values for Downtown Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
730 N Willard Ct, Unit M04B730 N Willard Ct3BR,2.5BA$1.41
1753 W Chicago Ave, Unit M04B1753 W Chicago Ave3BR,2BA$1.73
858 N Paulina St, Unit 1858 N Paulina St2BR,2BA$1.83
903 W 19th St, Unit 3903 W 19th St4BR,1BA$1.39
2141 W Superior St, Unit J01P2141 W Superior St3BR,1BA$1.79
240 W 24th St, Unit Coach House240 W 24th St2BR,1.5BA$1.67
1234 S Michigan Ave, Unit 13101234 S Michigan Ave1BR,1BA$1.85
1112 N Marshfield Ave, Unit M02B1112 N Marshfield Ave2BR,1BA$1.80
1827 S Racine Ave, Unit 2R1827 S Racine Ave1BR,1BA$1.75
1044 W 18th St, Unit 3M1044 W 18th St2BR,1BA$1.73

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Frequently Asked Questions about Downtown Chicago

What type of rentals are currently available in Downtown Chicago?

There are currently 2382 Apartments for Rent in Downtown Chicago, IL with pricing that ranges from $981 to $77,776. There are also 1642 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Chicago ranging from $650 to $35,000.

What is the current price range for Rental Homes in Downtown Chicago?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Chicago ranges from $650 to $35,000 with an average monthly rent of $5,860.

How much are larger Three and Four Bedroom Rentals in Downtown Chicago?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Chicago range from $1,695 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $650 to $30,000. Four Bedroom Single-Family rentals are also available starting from $700 and Four Bedroom Apartments start at $981.

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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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.