Cheap Apartments for Rent in the The Loop Neighborhood of Chicago, IL from $900 (47 Rentals)

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

property at 188 N Wells St

188 N Wells St

ChicagoIL60606

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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525 S. Dearborn St.
Studio to 2 Bedroom Apartments

525 S. Dearborn St.

525-537 S Dearborn StChicago, IL 60605
  • Utilities Included
property at 300 N State St

300 N State St

ChicagoIL60654
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180 W. Adams
1 Bedroom Apartments

180 W. Adams

180 W Adams StChicago, IL 60603
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Columbus Plaza
Studio to 2 Bedroom Apartments

Columbus Plaza

233 E Wacker DrChicago, IL 60601
property at 8 W Monroe St

8 W Monroe St

ChicagoIL60603
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200 N Dearborn St
Studio to 2 Bedroom Apartments

200 N Dearborn St

200 N Dearborn StChicago, IL 60601
  • Utilities Included

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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215 W Washington
1 to 3 Bedroom Apartments

215 W Washington

212-220 W Washington StChicago, IL 60606
Showing Results 1-47, Page 1 of 1

The Loop, Chicago, IL Local Guide

Cheapest Available The Loop Apartments for Rent

 

The cheapest available apartment rental in the The Loop area of Chicago, IL is a Studio unit found at MDA Apartments priced from $1,555. Pittsfield Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,595. Here are the most affordable The Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
MDA ApartmentsS8N - ModernStudio,1BA$1,555
Pittsfield ApartmentsStudio - Style BStudio,1BA$1,595
Columbus PlazaConvertible1BR,1BA$1,795
Lake and WellsS2Studio,1BA$1,805
320 N. Michigan1 Bed/1 Bath1BR,1BA$1,865
Century TowerStudio 04Studio,1BA$1,870
Millennium Park PlazaStudioStudio,1BA$1,875
Millennium on LaSalles3Studio,1BA$2,018
215 West Apartmentsstudio / 1 bathStudio,1BA$2,092
Marina CityOne Bedroom1BR,1BA$2,100

Best Value Apartments for Rent in The Loop, IL

As of May 12, 2025 the best value apartment in the The Loop area is the $3.00 price per square foot 208 W Washington St Model at 208 W Washington St, Unit 1911 in the in the Magnificent Mile neighborhood starting from $4,500. The second greatest value The Loop apartment is the 201 N Westshore Dr Model at 201 N Westshore Dr, Unit 1508 starting at $3,900 with a $2.79 price per square foot in the Magnificent Mile neighborhood. Here is today’s list of the best values for The Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
208 W Washington St, Unit 1911208 W Washington St3BR,3BA$3.00
201 N Westshore Dr, Unit 1508201 N Westshore Dr2BR,2BA$2.79
203 N La Salle St, Unit 1502203 N La Salle St2BR,2BA$3.17
Fisher Building ApartmentsC32BR,2BA$2.55
Linea Apartments1E1BR,1BA$3.50
210 N Wells St, Unit FL17-ID268210 N Wells St1BR,1BA$3.43
17 E Adams St, Unit 217 E Adams St1BR,1BA$3.16
Marina CityOne Bedroom1BR,1BA$2.90
330 S. Wells St09 Tier Studio DeluxeStudio ,1BA$3.55
Columbus PlazaConvertible1BR,1BA$3.05

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Pet Friendly Lifestyle
The Loop, Chicago, IL

Ranked #34

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States including The Loop, Chicago, and the greater Chicago area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap The Loop Apartments

What is a cheap apartment in The Loop?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in The Loop is under $2,100.

What is the price of a cheap apartment in The Loop?

The cheapest apartment in The Loop is Columbus Plaza which is listed at $1,795, while the average apartment in The Loop costs $11,925.

What types of apartments are the cheapest in The Loop?

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 7 regular apartments in The Loop 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 The Loop?

Cheap apartments in The Loop have an average cost of $192 which is $11,733 cheaper than the average rent for all rentals in The Loop.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.