Cheap Homes for Rent in Chicago, IL from $600 (1,490 Rentals)

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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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Chicago, IL Local Guide

Cheapest Neighborhoods for Apartments in Chicago, IL

Pricing Updated: 03/23/2025

Current apartment rentals in the Chicago, IL area range in price from $530 to $77,776 with an overall median price of $3,071. The three Chicago neighborhoods with the lowest median rent pricing are West Calumet at $1,049, South West Markham at $1,200, and Liverpool at $740. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Chicago Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
West Calumet$1,050$1,04917
South West Markham$1,200$1,20016
Liverpool$1,296$7401370
Pullman$1,305$880102
Roxana$1,350$1,30016
Maple Hill$1,350$1,3506
Thornwood District$1,388$860185
Chicago Lawn$1,425$1,050206
Riverdale$1,445$880223
Riverdale$1,445$1,155102

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 - NorthStudio,1BA$699
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$699
4114 W Washington BlvdStudio ApartmentStudio,1BA$725
6246 S. King Dr.Two rm StudioStudio,1BA$750
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$750
7850 S Constance AveStudio ApartmentStudio,1BA$760
6238-44 S Western AveStudioStudio,1BA$770
Washington PlazaStudio ApartmentStudio,1BA$795

Best Value Apartments for Rent in Chicago, IL

As of March 23, 2025 the best value apartment in the Chicago area is the $0.22 price per square foot 4343 N Spaulding Ave Model at 4343 N Spaulding Ave, Unit #2 in the in the Albany Park neighborhood starting from $2,150. The second greatest value Chicago apartment is the 8518 S Bennett Ave Model at 8518 S Bennett Ave, Unit 3 starting at $1,650 with a $0.43 price per square foot in the Avalon 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.
4343 N Spaulding Ave, Unit #24343 N Spaulding Ave3BR,1BA$0.22
8518 S Bennett Ave, Unit 38518 S Bennett Ave3BR,1BA$0.43
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
5536 W 63rd Plz, Unit 15536 W 63rd Plz1BR,1BA$0.63
7809 S Marshfield Ave, Unit 7809 South Marshfield #17809 S Marshfield Ave2BR,1BA$0.61
922 Summer St, Unit 2922 Summer St2BR,1BA$0.70
4525 S Christiana Ave, Unit First floor4525 S Christiana Ave3BR,1BA$0.84
6925 S Ada St, Unit 16925 S Ada St3BR,1BA$0.89
6908 S Union Ave, Unit G6908 S Union Ave1BR,1BA$0.78

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Frequently Asked Questions about Chicago

What type of rentals are currently available in Chicago?

There are currently 24822 Apartments for Rent in Chicago, IL with pricing that ranges from $532 to $77,776. There are also 6070 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago ranging from $650 to $58,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chicago ranges from $650 to $58,000 with an average monthly rent of $3,879.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Chicago range from $1,049 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 $996.

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.