
Cheap Studio Apartments for Rent in Chicago, IL from $550 (850 Rentals) Page 15 of 17


612 W Patterson

6211 N Kenmore

1261 W Argyle

The Jonquil Terrace

The Sherwin at Jarvis Square

515 W. Barry

The Sutherland

Rockwell Courtyard Apartments

1157 W. Diversey

2244 N. Cleveland

444 W. St. James Pl.

1065 N. Hermitage Ave.

7258 S Artesian Ave

Northside Chicago and Evanston Apartmen

The Mabel Exchange Apartments

540 West Roscoe Street

1355 N. Dearborn Street

Reside at Belmont Harbor

2970 N Sheridan

Reside at 849

537 W. Melrose

The Oliver on LaSalle

4102 N Sheridan Rd

5800 North Sheridan

8524-8532 W Gregory St

The 1521 Sherwin

The New York Private Residences

8139-8145 S Maryland Ave

Somerset Place Apartments

Reside at 823

Reside 707

6720 N Sheridan

600 N Lake Shore Dr

Luxury condo unit

55 E Erie St

Illume

R+D659

520 W Belden Ave

The Mondrian

450-508 W. Aldine

660 W. Barry

Wicker Park Lofts

5630 N Sheridan Rd

The Colony

The Ivy

1030 W George

530 W. Arlington Pl.

Montauk

Centrum Lakeview Phase II
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 | $1,935 | $550 | $5,378 |
| Chicago 1 Bedroom Apartments | $2,479 | $640 | $10,000+ |
| Chicago 2 Bedroom Apartments | $3,098 | $762 | $10,000+ |
| Chicago 3 Bedroom Apartments | $3,931 | $883 | $10,000+ |
| Chicago 4 Bedroom Apartments | $3,940 | $970 | $10,000+ |
| Chicago 5 Bedroom Apartments | $7,370 | $1,405 | $10,000+ |
| Chicago 6 Bedroom Apartments | $9,039 | $850 | $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 $735.
What is the price of a cheap apartment in Chicago?
The cheapest apartment in Chicago is 5445 Ingleside By 3L Living which is listed at $684, while the average apartment in Chicago costs $7,546.
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 4,541 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 $492 which is $7,054 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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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.