Cheap Apartments for Rent in the Hyde Park Neighborhood of Chicago, IL from $500 (96 Rentals)

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

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Hyde Park - One of the Best Affordable Neighborhoods in Chicago

Named as one of the Best Affordable Neighborhoods to rent in Chicago by our Chicago, IL Local Expert Nicole Harms. See how it ranks!

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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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Hyde Park Beach
Studio Apartments

Hyde Park Beach

5325-5327 S Cornell AveChicago, IL 60615
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5401 S Ellis Ave
Studio Apartments

5401 S Ellis Ave

5401 S Ellis AveChicago, IL 60615
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Cornell Arms Apartments
Studio to 1 Bedroom Apartments

Cornell Arms Apartments

5212-5220 S Cornell AveChicago, IL 60615
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Ohio Commons
1 to 3 Bedroom Apartments

Ohio Commons

5001 S Drexel BlvdChicago, IL 60615
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5451 S Cornell Ave
Studio Apartments

5451 S Cornell Ave

5451 S Cornell AveChicago, IL 60615
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The Carolan Apartments
Studio to 1 Bedroom Apartments

The Carolan Apartments

5480 S Cornell AveChicago, IL 60615
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Ivy Tower
Studio Apartments

Ivy Tower

5455 S Blackstone AveChicago, IL 60615
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Showing Results 1-50, Page 1 of 2

Hyde Park, Chicago, IL Local Guide

Cheapest Available Hyde Park Apartments for Rent

 

The cheapest available apartment rental in the Hyde Park area of Chicago, IL is a Studio unit found at 5445 Ingleside By 3L Living priced from $669. 5748 Blackstone By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $684. Here are the most affordable Hyde Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$669
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$684
5540 Hyde Park by 3L Living_5540 - Single - NorthStudio,1BA$715
801-05 E Drexel SquareStudio ApartmentStudio,1BA$865
Scholars Corner ApartmentsStudio Floor Plan S1Studio,1BA$946
Woodlawn House ApartmentsStudio Floor Plan S1Studio,1BA$957
5401 Cornell by 3L LivingStudioStudio,1BA$965
5528-5532 S. Everett Avenue5528-0bBStudio,1BA$1,045
2Sisters ApartmentsConvertible Studio Floor Plan L1Studio,1BA$1,073
Cornell (The Greenstone)Small StudioStudio,1BA$1,075

Best Value Apartments for Rent in Hyde Park, IL

As of April 27, 2025 the best value apartment in the Hyde Park area is the $1.09 price per square foot 1015 E Hyde Park Blvd Model at 1015 E Hyde Park Blvd, Unit 3 in the in the Hyde Park neighborhood starting from $3,600. The second greatest value Hyde Park apartment is the 5218-5bC Model at 5218-5220 S. Kimbark Avenue starting at $3,250 with a $1.58 price per square foot in the Hyde Park neighborhood. Here is today’s list of the best values for Hyde Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1015 E Hyde Park Blvd, Unit 31015 E Hyde Park Blvd5BR,3BA$1.09
5218-5220 S. Kimbark Avenue5218-5bC5BR,2BA$1.58
5508 S. Cornell Avenue5508-4bD4BR,3BA$1.72
5429 S. Woodlawn Avenue5429-3bd3BR,2BA$1.93
5118 S. Greenwood5118-4bA4BR,3BA$1.84
1159 E 52nd St, Unit 11159 E 52nd St2BR,2BA$1.75
1159 E 52nd St, Unit 11159 E 52nd St2BR,2BA$1.75
5409 S. Blackstone5411_3b2a3BR,2BA$1.85
5128-5132 S. Cornell Avenue5128-2bC2BR,1BA$1.82
5020 S Woodlawn Ave1 Bedroom1BR,1BA$1.73

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Pet Friendly Lifestyle
Hyde Park, Chicago, IL

Ranked #39

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in metropolitan areas across the United States, including 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 outdoor amenities like tennis courts, luxury amenities, features that make it easier to raise kids, raising pets, transit options, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Hyde Park Neighborhood in Chicago, IL

Walk Score®

90 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

93 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

65 / 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 Hyde Park Apartments

What is a cheap apartment in Hyde Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Hyde Park is under $1,075.

What is the price of a cheap apartment in Hyde Park?

The cheapest apartment in Hyde Park is Woodlawn House Apartments which is listed at $1,103, while the average apartment in Hyde Park costs $3,945.

What types of apartments are the cheapest in Hyde Park?

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 8 regular apartments in Hyde Park 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 Hyde Park?

Cheap apartments in Hyde Park have an average cost of $187 which is $3,758 cheaper than the average rent for all rentals in Hyde Park.

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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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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.