Cheap Studio Apartments for Rent in Chicago, IL from $595 (769 Rentals) Page 5 of 16

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1609 W Sherwin Ave
$1,450
Total Monthly Price

Total Monthly Price

Base Rent
$1,450 - $1,595
Total Monthly Price
$1,450 - $1,595
Studio Apartment Available Aug 17

1609 W Sherwin Ave

1609 W Sherwin AveChicago, IL 60626
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1330 N Dearborn
$1,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,500 - $2,200
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Studio Apartments Contact Us For Availability

1330 N Dearborn

1330 N Dearborn StChicago, IL 60610
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property at 663 W Grace St

$1,500 - $1,950

Studio Rentals

Available Now

663 W Grace St

ChicagoIL60613
Showing Results 201-250, Page 5 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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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

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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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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

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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.