Cheap Studio Apartments for Rent in Chicago, IL from $550 (850 Rentals) Page 16 of 17

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1710 W Lunt
Studio Apartments

1710 W Lunt

1710 W Lunt AveChicago, IL 60626
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Reside on Wellington
Studio Apartments

Reside on Wellington

510-520 W Wellington AveChicago, IL 60657
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5300 S. Drexel Avenue
Studio Apartments

5300 S. Drexel Avenue

5300-5304 S Drexel AveChicago, IL 60615
Corporate Housing
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1033 W Loyola
Studio Apartments

1033 W Loyola

1033 W Loyola AveChicago, IL 60626
Student Housing
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2250 N Lincoln Ave
Studio Apartments

2250 N Lincoln Ave

2250 N Lincoln AveChicago, IL 60614
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528 Oakdale
Studio Apartments

528 Oakdale

528 W Oakdale AveChicago, IL 60657
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1347 N Dearborn
Studio Apartments

1347 N Dearborn

1347 N DearbornChicago, IL 60610
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35 E Division St
Studio Apartments

35 E Division St

35 E Division StChicago, IL 60610
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5055 S Dorchester Ave
Studio Apartments

5055 S Dorchester Ave

5055 S Dorchester AveChicago, IL 60615
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515 South Blvd
$1,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,350 - $1,400
Total Monthly Price
$1,350 - $1,400
Studio Apartment Available Now

515 South Blvd

515 South BlvdOak Park, IL 60302
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Southmoor Apartments
Studio Apartments

Southmoor Apartments

5946 Hohman AveHammond, IN 46320
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Casa Heritage
Studio Apartments

Casa Heritage

10315 W Palmer AveMelrose Park, IL 60164
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Showing Results 751-800, Page 16 of 17

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 $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

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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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.

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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.

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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.