
Cheap Studio Apartments for Rent in the Old Town Neighborhood of Chicago, IL from $1,200 (17 Rentals)


14 West Elm Apartments

343 W Schiller St

1308 N La Salle Dr, Unit #2G

1223 N La Salle Dr, Unit g

1220 N La Salle Dr, Unit M02B
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

1214 N La Salle Dr, Unit 4H
Old Town, Chicago, IL Local Guide

How much does it cost to rent an apartment in Old Town?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Old Town Studio Apartments | $2,511 | $1,200 | $4,637 |
Old Town 1 Bedroom Apartments | $3,324 | $1,600 | $7,144 |
Old Town 2 Bedroom Apartments | $4,591 | $1,407 | $10,000+ |
Old Town 3 Bedroom Apartments | $5,139 | $1,200 | $10,000+ |
Old Town 4 Bedroom Apartments | $1,554 | $1,285 | $8,514 |
Explore Chicago
Old Town, Chicago, IL Local Guide
- Nearby Chicago neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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.
Getting Around the Old Town Neighborhood in Chicago, IL
Walk Score®
97 / 100
Walker’s Paradise
Daily errands do not require a car
Bike Score®
91 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
81 / 100
Excellent Transit
Transit is convenient for most trips
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 Old Town Apartments
What is a cheap apartment in Old Town?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Town is under $2,095.
What is the price of a cheap apartment in Old Town?
The cheapest apartment in Old Town is 1522 N La Salle Dr which is listed at $1,600, while the average apartment in Old Town costs $4,700.
What types of apartments are the cheapest in Old Town?
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 895 regular apartments in Old Town 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 Old Town?
Cheap apartments in Old Town have an average cost of $763 which is $3,937 cheaper than the average rent for all rentals in Old Town.
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.

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.

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.