Cheap Homes for Rent in The Loop Neighborhood of Chicago, IL from $1,600 (75 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 47 E Lake St

47 E Lake St

ChicagoIL60601
property at 186 W Lake St

186 W Lake St

ChicagoIL60601
property at 328 S Wells St

328 S Wells St

ChicagoIL60606
property at 117 N Clark St

117 N Clark St

ChicagoIL60602

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

Read Article
property at 300 N State St

300 N State St

ChicagoIL60654
property at 216 N Wells St

216 N Wells St

ChicagoIL60606
property at 155 N Harbor Dr

155 N Harbor Dr

ChicagoIL60601
property at 26 E Adams St

26 E Adams St

ChicagoIL60603
property at 195 N Harbor Dr

195 N Harbor Dr

ChicagoIL60601
property at 331 W Wacker Dr

331 W Wacker Dr

ChicagoIL60606
Showing Results 1-50, Page 1 of 2

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 Pittsfield Apartments priced from $1,395. MDA Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,640. Here are the most affordable The Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Pittsfield ApartmentsStudio - Style GStudio,1BA$1,395
MDA ApartmentsS6NMStudio,1BA$1,640
Marina CityStudioStudio,1BA$1,650
Columbus PlazaStudioStudio,1BA$1,697
Fisher Building ApartmentsA11BR,1BA$1,715
The AlfredA3Studio,1BA$1,795
Lake and WellsS2Studio,1BA$1,805
Millennium Park PlazaStudioStudio,1BA$1,875

Best Value Apartments for Rent in The Loop, IL

As of March 23, 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 2141 W Superior St Model at 2141 W Superior St, Unit J01P starting at $2,500 with a $1.79 price per square foot in the Chicago Loop 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
2141 W Superior St, Unit J01P2141 W Superior St3BR,1BA$1.79
208 N Park Dr, Unit 2208 N Park Dr2BR,2BA$2.92
77 E Lake St, Unit 277 E Lake St2BR,2BA$3.41
343 S Dearborn St, Unit FL16-ID318343 S Dearborn St2BR,2BA$3.20
210 N Wells St, Unit FL17-ID268210 N Wells St1BR,1BA$1.91
50 W Randolph St, Unit 90550 W Randolph St1BR,1BA$2.62
Fisher Building ApartmentsA51BR,1BA$3.03
33 E Adams St, Unit 133 E Adams St1BR,1BA$3.29
Columbus PlazaConvertible1BR,1BA$2.93

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about The Loop

What type of rentals are currently available in The Loop?

There are currently 108 Apartments for Rent in The Loop, IL with pricing that ranges from $1,395 to $17,160. There are also 175 Single Family Homes for rent, Condos, and Townhome rentals currently available in The Loop ranging from $1,640 to $30,000.

What is the current price range for Rental Homes in The Loop?

Today's rental pricing for Homes for Rent, Condos and Townhomes in The Loop ranges from $1,640 to $30,000 with an average monthly rent of $6,239.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for What to Know About Fees and Fines When Renting article

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.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.