Cheap Apartments for Rent by Owner in Chicago, IL from $400 (81 Rentals)

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

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4355 S Sawyer Ave
$995 - $1,000
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Total Monthly Price

Base Rent
$995 - $1,000
Total Monthly Price
$995 - $1,000
1 Bedroom Apartment Available Now

4355 S Sawyer Ave

4355 S Sawyer AveChicago, IL 60632
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6327 S Kenneth Ave
$1,150 - $2,300
Total Monthly Price

Total Monthly Price

Base Rent
$1,150 - $2,300
Total Monthly Price
$1,150 - $2,300
1 to 3 Bedroom Apartment Available Now

6327 S Kenneth Ave

6327 S Kenneth AveChicago, IL 60629
Affordability
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10415 S Vernon Ave, Unit 2
$1,150
Total Monthly Price

Total Monthly Price

Base Rent
$1,150
Total Monthly Price
$1,150
1 Bedroom Apartment Available Now

10415 S Vernon Ave, Unit 2

10415 S Vernon AveChicago, IL 60628
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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6117 S Vernon Ave, Unit Bsm
$1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250
2 Bedroom Apartment Available Now

6117 S Vernon Ave, Unit Bsm

6117 S Vernon AveChicago, IL 60637
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3149 W 42nd Pl, Unit 1
$1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250
3 Bedroom Apartment Available Now

3149 W 42nd Pl, Unit 1

3149 W 42nd PlChicago, IL 60632
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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8010 S Marshfield Ave, Unit 1
$1,300
Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300
2 Bedroom Apartment Available Now

8010 S Marshfield Ave, Unit 1

8010 S Marshfield AveChicago, IL 60620
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3530 North Kilbourn Avenue
$1,300 - $2,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,300 - $2,100
Total Monthly Price
$1,300 - $2,100
2 Bedroom Apartment Available Now

3530 North Kilbourn Avenue

3530 North Kilbourn AvenueChicago, IL 60641
Affordability

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

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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238 N Lockwood Ave
$1,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500
2 Bedroom Apartment Available Now

238 N Lockwood Ave

238 N Lockwood AveChicago, IL 60644
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Chicago, IL Local Guide

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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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 $700.

What is the price of a cheap apartment in Chicago?

The cheapest apartment in Chicago is Westhaven Park II - C which is listed at $754, while the average apartment in Chicago costs $7,857.

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 5,583 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 $499 which is $7,358 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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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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Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

Written by: Nicole Harms

With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

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Best Neighborhoods to Rent in Near Chicago's Top Employers

Written by: Nicole Harms

Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

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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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.