
New Apartments for Rent in Chicago, IL Under $5,000 (390 Rentals) Page 2 of 8


1879 North Milwaukee

ILUX

Elevate Lincoln Park

Aurelien

Linea Apartments

Landmark West Loop

AMLI West Loop

6613 S Langley Ave, Unit La Casa Negra Chicago

465 North Park
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

North Oak Lofts

868 N. Wells

Residences at 8 East Huron

Onni Fulton Market

Eight O Five

The Residences at NewCity

1619 S Michigan Ave, Unit 202

Exhibit on Superior

Gateway West Loop

Foundry

Arrive Michigan Avenue

920 N Wells

1111 N Wells St, Unit 302

Fulbrix Apartments

Next Apartments

North Water Apartments

Sentral Michigan Avenue

Millennium on LaSalle

369 Grand by Onni

Porte

NEMA Chicago

Cortland River North

Cascade

Arthur on Aberdeen

Coppia

Spoke

1001 South State

The Mason

Xavier

Lofts At River East

The Parker Fulton Market

Flora

The Reed

CADENCE APARTMENTS

727 West Madison

Sheffield of Lincoln Park

2402 W Carmen Ave

Four50 Residences

Marquee at Block 37

731 Plymouth by 3L Living
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 | $1,917 | $575 | $7,500 |
| Chicago 1 Bedroom Apartments | $2,382 | $450 | $9,450 |
| Chicago 2 Bedroom Apartments | $2,909 | $750 | $10,000+ |
| Chicago 3 Bedroom Apartments | $3,580 | $740 | $10,000+ |
| Chicago 4 Bedroom Apartments | $3,999 | $1,040 | $10,000+ |
| Chicago 5 Bedroom Apartments | $8,153 | $1,925 | $10,000+ |
| Chicago 6 Bedroom Apartments | $12,060 | $850 | $10,000+ |
Explore Chicago
Frequently Asked Questions about New Chicago Apartments
What is the Cheapest New apartment in Chicago?
Currently the most affordable New Apartment in Chicago is at 5401 Cornell by 3L Living listed at $919.
How much is the average rent for a New Chicago Apartment?
The average rent for a New Apartment in Chicago is $4,089.
What is the largest New Chicago Apartment for rent?
Today's New apartment with the most square footage in Chicago is a 4,425 square feet unit starting from $2,327 at 369 Grand by Onni.
What is the average size for Chicago New Apartments for rent?
The average size for a New rental in Chicago is currently at 659 sq ft.
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 to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!