Cheap New Apartments for Rent in Chicago, IL from $400 (46 Rentals)

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

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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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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Cicero Senior Lofts
Built in 2020Studio to 2 Bedroom Apartments

Cicero Senior Lofts

4835 S Cicero AveChicago, IL 60632
Senior Living
  • Utilities Included
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4801 North Ravenswood
Built in 2017Studio to 2 Bedroom Apartments

4801 North Ravenswood

4801 N Ravenswood AveChicago, IL 60640
  • Utilities Included
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2411 West Fitch
Built in 2015Studio Apartments

2411 West Fitch

2401 W Fitch AveChicago, IL 60645
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Elevation Lofts
Built in 2020Studio to 3 Bedroom Apartments

Elevation Lofts

1531 W Howard StChicago, IL 60626
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The Westerner
Built in 2017Studio to 1 Bedroom Apartments

The Westerner

4620 N Western AveChicago, IL 60625
  • Utilities Included

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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Park Station Lofts
Built in 20231 to 3 Bedroom Apartments

Park Station Lofts

6300 S Maryland AveChicago, IL 60637
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The Schoolhouse
Built in 2024Studio to 2 Bedroom Apartments

The Schoolhouse

4641 N Ashland AveChicago, IL 60640
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1323 W Morse Ave
Built in 20181 to 2 Bedroom Apartments

1323 W Morse Ave

1323 W Morse AveChicago, IL 60626
  • Utilities Included
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Winthrop 6000
Built in 20201 Bedroom Apartments

Winthrop 6000

6000-6008 N Winthrop AveChicago, IL 60660
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Jefferson Park Apartments
Built in 2022Studio to 3 Bedroom Apartments

Jefferson Park Apartments

5150 N Northwest HwyChicago, IL 60630
  • Utilities Included
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4102 N Sheridan Rd
Built in 2024Studio to 2 Bedroom Apartments

4102 N Sheridan Rd

4102 N Sheridan RdChicago, IL 60613
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111 S Peoria St
Built in 2018Studio to 3 Bedroom Apartments

111 S Peoria St

111 S Peoria StChicago, IL 60607
Furnished
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Wicker Park Lofts
Built in 2016Studio to 3 Bedroom Apartments

Wicker Park Lofts

1515-1517 W Haddon AveChicago, IL 60642
  • Utilities Included
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Trianon Lofts
Built in 20172 Bedroom Apartments

Trianon Lofts

803 E 61st StChicago, IL 60637
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Montauk
Built in 2018Studio to 1 Bedroom Apartments

Montauk

1550 N Wieland StChicago, IL 60610
  • Utilities Included

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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Centrum Lakeview Phase II
Built in 2017Studio to 1 Bedroom Apartments

Centrum Lakeview Phase II

3418 N Lincoln AveChicago, IL 60657
  • Utilities Included
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Thorndale Paulina
Built in 20242 Bedroom Apartments

Thorndale Paulina

1634-1636 W Thorndale AveChicago, IL 60660
  • Utilities Included

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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4747 Place
Built in 20191 Bedroom Apartments

4747 Place

4747 19th StCicero, IL 60804
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140 S Austin Blvd
Built in 20153 Bedroom Apartments

140 S Austin Blvd

140 S Austin BlvdOak Park, IL 60304
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6605 North Ave
Built in 2021Studio to 3 Bedroom Apartments

6605 North Ave

6605 North AveOak Park, IL 60302
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9565 Franklin Ave
Built in 20151 Bedroom Apartments

9565 Franklin Ave

9565 Franklin AveFranklin Park, IL 60131
  • Smoke Free
Showing Results 1-46, Page 1 of 1

Chicago, IL Local Guide

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.

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Getting Around Chicago, IL

Walk Score®

83 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

77 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

66 / 100

Good Transit

Many nearby public transportation options

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 Chicago Apartments

What is the Cheapest Studio apartment in Chicago?

Currently the most affordable Cheap Studio Apartment in Chicago is at 5445 Ingleside By 3L Living listed at $639.

How much is rent for a Cheap One Bedroom Chicago Apartment?

The lowest price for a Cheap One Bedroom Chicago Apartment is $748 at 5445 Ingleside By 3L Living.

What is the lowest price for a Cheap Two Bedroom Chicago Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Chicago is starting from $900 at 1108 E 82nd St.

What is the most affordable Chicago Three Bedroom Apartment?

The best deal on a cheap Chicago Three Bedroom Apartment rental is at 6224 S Dr Martin Luther King Jr Dr and starts from $1,270.

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.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.