Cheap Apartments for Rent in Chicago, IL from $595 (2,935 Rentals)

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Search the lowest-cost Apartments available for rent right now in Chicago.

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Chicago, IL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Chicago, IL

Pricing Updated: 08/21/2026

Current apartment rentals in the Chicago, IL area range in price from $200 to $43,181 with an overall median price of $2,322. The three Chicago neighborhoods with the lowest median rent pricing are West Chatham at $910, Pullman at $965, and Brinkmans at $1,027. 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 Chatham$910$8605
Pullman$965$9606
Brinkmans$1,027$83717
Edgewood$1,027$83717
Village Green$1,027$83717
Downtown Michigan City$1,059$83723
Trail Creek$1,059$83723
West Calumet$1,087$9006
West Englewood$1,125$82511
Oakglen$1,150$1,1501

Cheapest Available Chicago Apartments for Rent

 

The cheapest available apartment rental in Chicago, IL is a 4 Beds unit found at Coleman Place At Legends South in the Armour Square neighborhood priced from $170. West Haven Park II - B in the Little Italy neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $192. Here is today’s list of the most affordable Chicago apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Coleman Place At Legends SouthThe Wells4BR,2BA$170
West Haven Park II - B3 Bedroom3BR,1BA$192
Westhaven Park II - A4 Bedroom4BR,2BA$239
Westhaven Park II - C3 Bedroom3BR,1BA$268
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
6246 S. King Dr.EfficienciesStudio,1BA$710
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$712
1155 W 83rd StStudioStudio,1BA$720
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726

Best Value Apartments for Rent in Chicago, IL

As of August 21, 2026 the best value apartment in the Chicago area is the $0.33 price per square foot 1946 W Nelson St Model at 1946 W Nelson St, Unit # 01E in the in the Roscoe Village neighborhood starting from $3,250. The second greatest value Chicago apartment is the 3136 N Ridgeway Ave Model at 3136 N Ridgeway Ave, Unit 002 starting at $3,050 with a $0.31 price per square foot in the Logan Square 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.
1946 W Nelson St, Unit # 01E1946 W Nelson St3BR,1.5BA$0.33
3136 N Ridgeway Ave, Unit 0023136 N Ridgeway Ave2BR,2BA$0.31
1436 W Farragut Ave, Unit D31436 W Farragut Ave2BR,1BA$0.32
1459 N Milwaukee Ave, Unit 2A1459 N Milwaukee Ave2BR,2BA$0.33
5226 W Crystal St, Unit Unit 25226 W Crystal St3BR,1BA$0.59
5519 S Throop St, Unit 15519 S Throop St3BR,1BA$0.67
7809 S Marshfield Ave, Unit 7809 South Marshfield #17809 S Marshfield Ave2BR,1BA$0.56
6329 S Loomis Blvd, Unit 26329 S Loomis Blvd3BR,1BA$0.65
1402 W Flournoy St, Unit Anupama Sri Kota1402 W Flournoy St2BR,1BA$0.63
Westhaven Park II - A3 Bedroom3BR,1BA$0.15

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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Chicago Overview

Chicago is one of the largest and liveliest cities in the United States with a thriving economy, an active nightlife and some of the world's most historic buildings and landmarks making it a very popular place to call home. The school system and metropolitan offerings make Chicago one of the best places to live in the Midwest in addition to being a premiere tourist destination. The options for cheap apartments in Chicago as well as rental homes, condos, and townhomes in the area make it a renters dream come true.

Why live in Chicago, IL?

With its numerous shops and local cuisine, a bustling nightlife, a strong economy and an efficient if busy transportation system, Chicago is truly the gem of the Midwest. While school districts vary from one area to the next, Chicago is a hub for some of the world's best schools, universities and hospitals, making it an ideal place to settle down. As home to some of the leading universities in the world, Chicago offers plenty of opportunities for its residents to grow up, get an education and find work in its diverse and thriving economy.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Chicago, IL Rentals by Map

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See the most popular apartments and homes in Chicago, IL

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Chicago, IL Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Nicole • 4+ years in Chicago

April 10, 2026

Big city challenges with traffic but also provides the amenities of the city you can't find elsewhere

Frequently Asked Questions about Cheap Chicago Apartments

What is a cheap apartment in Chicago?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Chicago is under $726.

What is the price of a cheap apartment in Chicago?

The cheapest apartment in Chicago is West Haven Park II - B which is listed at $660, while the average apartment in Chicago costs $2,322.

What types of apartments are the cheapest in Chicago?

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 2,585 regular apartments in Chicago 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 Chicago?

Cheap apartments in Chicago have an average cost of $473 which is $1,849 cheaper than the average rent for all rentals in Chicago.

Expert Rental Resources

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.

Helpful Local Expert Guides

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The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Written by: Nicole Harms

Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Written by: Nicole Harms

From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.