Cheap Apartments for Rent in Chicago, IL from $400 with Washer/Dryer (251 Rentals)

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

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5722 N Winthrop Ave
$1,250 - $1,695
Total Monthly Price

Total Monthly Price

Base Rent
$1,250 - $1,695
Total Monthly Price
$1,250 - $1,695
Studio to 1 Bedroom Apartment Available Now

5722 N Winthrop Ave

5722 N Winthrop AveChicago, IL 60660
Affordability
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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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4871 N Magnolia Ave
$1,300 - $2,300
Total Monthly Price

Total Monthly Price

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

4871 N Magnolia Ave

4871 N Magnolia AveChicago, IL 60640
Affordability
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5642 W Newport Ave, Unit 3rd Floor
$1,300
Total Monthly Price

Total Monthly Price

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

5642 W Newport Ave, Unit 3rd Floor

5642 W Newport AveChicago, IL 60634
Cost Per Sq.Ft.
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Post Chicago
$1,300 - $1,875
Total Monthly Price

Total Monthly Price

Base Rent
$1,160 - $1,735
Required Monthly Fees
$140
Total Monthly Price
$1,300 - $1,875
1 Bedroom Apartments Available Now

Post Chicago

853 W Blackhawk StChicago, IL 60642
Student Housing
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  • 3D Tour
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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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5443 N St Louis Ave, Unit #G
$1,350
Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350
1 Bedroom Apartment Available Mar 31

5443 N St Louis Ave, Unit #G

5443 N St Louis AveChicago, IL 60625
Furnished
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Loyola Beach Apartments
$1,399 - $1,699
Total Monthly Price

Total Monthly Price

Base Rent
$1,350 - $1,650
Required Monthly Fees
$49
Total Monthly Price
$1,399 - $1,699
Studio to 1 Bedroom Apartments Available Jul 1

Loyola Beach Apartments

7064 N Sheridan RdChicago, IL 60626
Affordability
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  • Utilities Included
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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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The Trilogy at Hyde Park
Rent Specials
$1,444 - $2,509
Total Monthly Price

Total Monthly Price

Base Rent
$1,435 - $2,500
Required Monthly Fees
$9
Total Monthly Price
$1,444 - $2,509
1 to 3 Bedroom Apartments Available Now

The Trilogy at Hyde Park

1310-1316 E Hyde Park BlvdChicago, IL 60615
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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3350 N Marshfield Ave, Unit S
$1,445
Total Monthly Price

Total Monthly Price

Base Rent
$1,445
Total Monthly Price
$1,445
Studio Apartment Available May 1

3350 N Marshfield Ave, Unit S

3350 N Marshfield AveChicago, IL 60657
Affordability
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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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5638 N Ashland Ave
$1,481 - $2,223
Total Monthly Price

Total Monthly Price

Base Rent
$1,481 - $2,223
Total Monthly Price
$1,481 - $2,223
Studio to 2 Bedroom Apartment Available Now

5638 N Ashland Ave

5638 N Ashland AveChicago, IL 60660
Affordability
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5651 N Ashland Ave
$1,481 - $2,224
Total Monthly Price

Total Monthly Price

Base Rent
$1,481 - $2,224
Total Monthly Price
$1,481 - $2,224
Studio to 2 Bedroom Apartment Available Now

5651 N Ashland Ave

5651 N Ashland AveChicago, IL 60660
Affordability
property at 1154 W Lunt Ave

$1,495 - $1,795

1 To 2 Bedroom Rentals

Available Apr 1

1154 W Lunt Ave

ChicagoIL60626

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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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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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 Coleman Place At Legends South which is listed at $170, while the average apartment in Chicago costs $7,326.

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 5,565 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 $510 which is $6,816 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.