
Cheap Apartments for Rent in Chicago, IL from $400 with Washer/Dryer (231 Rentals) Page 3 of 5
Search the lowest-cost Apartments available for rent right now in Chicago.


Lakeside Tower

Rosenwald Courts

Touhy - by - the - Lake

4815 N Springfield

Foswyn

1635-1637 W Touhy

5545-5551 N Magnolia Ave

The North Hotel

St. Edmund's Meadows
Chicago's Best Affordable Neighborhoods
Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

The Park Terrace

The Damen Jarvis

The Ambassador

The Elevation Lofts

Ivy Terrace

Lake Park Crescent Apartments

The Westerner

2048 N Cleveland Ave

3834 N Sheffield

1810 S Throop St

Belmont Court Apartments

Dorchester Artist + Housing Collaborative Apt

1504 N Dearborn Pkwy

5457-5459 S. Blackstone Avenue

1555-1557 W Diversey Pky

Park Station Lofts

Park Heights by the Lake Apartments

2411 West Fitch

Pratt At The Lake

The Mabel Exchange Apartments

701 W Brompton

1912 S Throop St

6147 S Vernon Ave

1323 W Morse Ave

Elm 551 at Parkside

1325 W Wilson

663 W Melrose St

1735-1743 W Bryn Mawr Ave

Beacon-Leland Building

7334 N Ridge Blvd

6124-28 S. Ingleside Ave.

5653-59 N. Magnolia

3435 W Berteau Ave 3C

6752 N Sauganash Ave

2828 N. Lawndale Ave.

The Sutherland

6616 N. Glenwood

2322 W. Thomas St.

4128-34 W. Addison St. / 3601-03 N. Kedvale Ave

Hollywood Towers
Chicago, IL Local Guide

How much does it cost to rent an apartment in Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Chicago Studio Apartments | $2,032 | $600 | $9,640 |
| Chicago 1 Bedroom Apartments | $2,475 | $700 | $9,987 |
| Chicago 2 Bedroom Apartments | $3,069 | $850 | $10,000+ |
| Chicago 3 Bedroom Apartments | $3,871 | $883 | $10,000+ |
| Chicago 4 Bedroom Apartments | $4,054 | $970 | $10,000+ |
| Chicago 5 Bedroom Apartments | $8,104 | $1,995 | $10,000+ |
| Chicago 6 Bedroom Apartments | $6,309 | $750 | $10,000+ |
Explore Chicago
Chicago, IL Area Reviews
Nicole • 4+ years in Chicago
April 10, 2026Big 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 $724.
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 $7,399.
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 3,261 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 $508 which is $6,891 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

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.

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.

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.

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

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.

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.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.