Cheap Studio Apartments for Rent in Chicago, IL from $595 (769 Rentals) Page 3 of 16

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544 W. Melrose
$1,260 - $1,610
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$1,260 - $2,192
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Studio Apartments Available Oct 1

544 W. Melrose

544 W Melrose StChicago, IL 60657
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1940 N. Lincoln
$1,264 - $1,840
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$1,264 - $1,905
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Studio Apartments Available Sep 1

1940 N. Lincoln

1940 N Lincoln AveChicago, IL 60614
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632 W. Addison
$1,274 - $1,580
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$1,274 - $2,902
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632 W. Addison

632-644 W Addison StChicago, IL 60613
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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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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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515 W Belmont Ave
$1,350 - $1,650
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$1,350 - $2,095
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$1,350 - $2,095
Studio Apartment Available Now

515 W Belmont Ave

515 W Belmont AveChicago, IL 60657
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1049 W. Oakdale
$1,354 - $1,603
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$1,354 - $2,070
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1049 W. Oakdale

1049 W Oakdale AveChicago, IL 60657
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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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Showing Results 101-150, Page 3 of 16

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 $745.

What is the price of a cheap apartment in Chicago?

The cheapest apartment in Chicago is Highlands Tudor Manor - 55+ Community which is listed at $700, while the average apartment in Chicago costs $2,302.

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 2,414 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 $452 which is $1,850 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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Articles, How-To's, and Tips

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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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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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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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.