Cheap Short Term Lease Apartments for Rent in Chicago, IL from $400 (80 Rentals)

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Short Term Rental Options.

Cheap Apartments 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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Ivy Tower
Studio to 1 Bedroom Apartments

Ivy Tower

5455 S Blackstone AveChicago, IL 60615
Student Housing
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12157 S Michigan Ave
1 Bedroom Apartments

12157 S Michigan Ave

12157 S Michigan AveChicago, IL 60628
Student Housing
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The Max Apartments
Studio to 1 Bedroom Apartments

The Max Apartments

5135 S Blackstone AveChicago, IL 60615
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2600 W. Logan Blvd
Studio to 2 Bedroom Apartments

2600 W. Logan Blvd

2612 W Logan BlvdChicago, IL 60647
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Ivy Dorchester
Studio to 2 Bedroom Apartments

Ivy Dorchester

5118 S Dorchester AveChicago, IL 60615
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Ivy Dickens
Studio to 1 Bedroom Apartments

Ivy Dickens

5330 S Blackstone AveChicago, IL 60615
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Luxe on Chicago
Studio to 3 Bedroom Apartments

Luxe on Chicago

1838 W Chicago AveChicago, IL 60622
Corporate Housing
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Ivy Villas
Studio to 2 Bedroom Apartments

Ivy Villas

5514 S Blackstone AveChicago, IL 60637

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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Ivy at Shelbyrne
Studio to 2 Bedroom Apartments

Ivy at Shelbyrne

5110 S Kenwood AveChicago, IL 60615
Student Housing
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6011 N Kenmore St
Studio to 1 Bedroom Apartments

6011 N Kenmore St

6011 N Kenmore StChicago, IL 60660
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Ivy at Fairfax
Studio to 3 Bedroom Apartments

Ivy at Fairfax

1369 E Hyde Park BlvdChicago, IL 60615
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Ivy at Sylvan
Studio to 1 Bedroom Apartments

Ivy at Sylvan

5532 S Kenwood AveChicago, IL 60637
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Ivy Gayles
Studio to 2 Bedroom Apartments

Ivy Gayles

5316 S Dorchester AveChicago, IL 60615
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Ivy Kenwood
Studio to 2 Bedroom Apartments

Ivy Kenwood

5220 S Kenwood AveChicago, IL 60615
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7700 S Phillips Ave
3 Bedroom Apartments

7700 S Phillips Ave

7700 S Phillips AveChicago, IL 60649
Senior Living
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Ivy at Carlson
Studio to 2 Bedroom Apartments

Ivy at Carlson

1401 E Hyde Park BlvdChicago, IL 60615
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Ivy Terrace
Studio to 2 Bedroom Apartments

Ivy Terrace

5140 S Kenwood AveChicago, IL 60615

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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Ivy at Harper
Studio to 2 Bedroom Apartments

Ivy at Harper

5345 S Harper AveChicago, IL 60615
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Luella Court
1 to 3 Bedroom Apartments

Luella Court

8000 S Luella AveChicago, IL 60617
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1662 W. Farwell Ave.
Studio to 2 Bedroom Apartments

1662 W. Farwell Ave.

1662-1664 W Farwell AveChicago, IL 60626
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The Winthrop Place
Studio to 1 Bedroom Apartments

The Winthrop Place

5710 N WinthropChicago, IL 60660
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1666 Pratt
1 Bedroom Apartments

1666 Pratt

1666 W Pratt BlvdChicago, IL 60626
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911 W. Oakdale Ave.
Studio to 1 Bedroom Apartments

911 W. Oakdale Ave.

910-918 W Oakdale AveChicago, IL 60657
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Ivy at Mason
Studio to 2 Bedroom Apartments

Ivy at Mason

1215 E Hyde Park BlvdChicago, IL 60615
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5500 S. Cornell Avenue
Studio to 4 Bedroom Apartments

5500 S. Cornell Avenue

5493 S Cornell AveChicago, IL 60637
Corporate Housing
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The Vivian
Studio to 1 Bedroom Apartments

The Vivian

6807 N Sheridan RdChicago, IL 60626
Corporate Housing
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2103-23 W. Berwyn Ave.
1 to 3 Bedroom Apartments

2103-23 W. Berwyn Ave.

2103-2123 W Berwyn AveChicago, IL 60625
  • Utilities Included

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

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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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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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

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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 $2,314.

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 2,532 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 $463 which is $1,851 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.

decorative image for Chicago Relocation 101: Mastering Utilities, Registration, and the CTA article

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.

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

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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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.