Top Rated Cheap Apartments for Rent in Chicago, IL from $400 (83 Rentals)

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Top Rated Apartments in Chicago.

Cheap Apartments in Chicago.

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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2630 N. Hampden Court
$1,400 - $2,254
Total Monthly Price

Total Monthly Price

Base Rent
$1,400 - $2,254
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Contact Us For Availability

2630 N. Hampden Court

2630 N Hampden CtChicago, IL 60614
Affordability
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468 West Melrose
Rent Specials
$1,595 - $2,095
Total Monthly Price

Total Monthly Price

Base Rent
$1,595 - $2,095
Total Monthly Price
$1,595 - $2,095
Studio to 1 Bedroom Apartments Available Aug 15

468 West Melrose

468 W Melrose StChicago, IL 60657
Pet Friendly
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  • Customer Reviewed
  • Utilities Included

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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Devonshire Apartments
Studio to 1 Bedroom Apartments

Devonshire Apartments

7260 S South Shore DrChicago, IL 60649
  • Utilities Included
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8001 S Ellis
Studio to 1 Bedroom Apartments

8001 S Ellis

8001-8009 S Ellis AveChicago, IL 60619
  • Utilities Included
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73rd St
Studio to 2 Bedroom Apartments

73rd St

7345 S South Shore DrChicago, IL 60649
  • Utilities Included
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7925 S Phillips
Studio to 1 Bedroom Apartments

7925 S Phillips

7923 S Phillips AveChicago, IL 60617
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Columbus Tower
Studio to 2 Bedroom Apartments

Columbus Tower

7855 S Kedzie AveChicago, IL 60652
Senior Living
  • Utilities Included

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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The Max Apartments
Studio to 1 Bedroom Apartments

The Max Apartments

5135 S Blackstone AveChicago, IL 60615
  • Utilities Included
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1632 W. Belmont
Studio Apartments

1632 W. Belmont

1632 W Belmont AveChicago, IL 60657
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Triangle Square
Studio to 3 Bedroom Apartments

Triangle Square

2155 N Elston AveChicago, IL 60614
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7800 S Laflin Street
1 to 3 Bedroom Apartments

7800 S Laflin Street

7800-7804 S Laflin StChicago, IL 60620
  • Utilities Included
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8101 S Drexel
1 to 2 Bedroom Apartments

8101 S Drexel

8101-8105 S Drexel AveChicago, IL 60619
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7643 S Stewart
2 to 4 Bedroom Apartments

7643 S Stewart

7643-7657 S Stewart AveChicago, IL 60620
  • Utilities Included
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8000 S Paulina
Studio to 2 Bedroom Apartments

8000 S Paulina

8000-8010 S Paulina StChicago, IL 60620
  • Utilities Included
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3834 N Sheffield
Studio Apartments

3834 N Sheffield

3834 N Sheffield AveChicago, IL 60613
  • Utilities Included
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The Kenmore Gardens
Studio to 2 Bedroom Apartments

The Kenmore Gardens

5534-5538 N Kenmore AveChicago, IL 60640
  • Utilities Included
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11250 S Indiana
1 to 3 Bedroom Apartments

11250 S Indiana

11250-11256 S Indiana AveChicago, IL 60628
  • Utilities Included

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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1666 Pratt
1 Bedroom Apartments

1666 Pratt

1666 W Pratt BlvdChicago, IL 60626
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4815 W Monroe St
1 to 4 Bedroom Apartments

4815 W Monroe St

4815 W Monroe StChicago, IL 60644
  • Utilities Included
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500 W. Fullerton Parkway
Studio to 2 Bedroom Apartments

500 W. Fullerton Parkway

500-508 W Fullerton PkyChicago, IL 60614
  • Utilities Included
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Cermak-MASTER
1 to 2 Bedroom Apartments

Cermak-MASTER

3635-3645 W Cermak RdChicago, IL 60623
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The Sovereign Apartments
Studio to 2 Bedroom Apartments

The Sovereign Apartments

1606-1624 W Granville AveChicago, IL 60660
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536 W. Addison
Studio to 2 Bedroom Apartments

536 W. Addison

536 W Addison StChicago, IL 60613
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437-59 W. Belmont Ave.
1 to 3 Bedroom Apartments

437-59 W. Belmont Ave.

437-459 W Belmont AveChicago, IL 60657
  • 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 $4,284.

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 2,322 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 $446 which is $3,838 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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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.

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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.

Articles, How-To's, and Tips

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.