Cheap Apartments for Rent in the Austin Neighborhood of Chicago, IL from $700 (129 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Austin area of Chicago.

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4865 W Concord Pl
$1,100 - $1,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,600
Total Monthly Price
$1,100 - $1,600
1 to 2 Bedroom Apartment Available Now

4865 W Concord Pl

4865 W Concord PlChicago, IL 60639
Affordability
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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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property at 646 N Long Ave

$1,400

Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400

2 Bedroom, 1 Bath Townhome for Rent

Available Now

646 N Long Ave

ChicagoIL60644

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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1001-1005 S Mayfield Ave
Studio to 1 Bedroom Apartments

1001-1005 S Mayfield Ave

1001-1005 S Mayfield AveChicago, IL 60644
  • Utilities Included
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542 N Pine Ave
Studio to 3 Bedroom Apartments

542 N Pine Ave

542 N Pine AveChicago, IL 60644
  • Utilities Included
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5402 W Rice
Studio to 2 Bedroom Apartments

5402 W Rice

5402 W Rice StChicago, IL 60651
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301-313 N. Austin Blvd.
Studio to 2 Bedroom Apartments

301-313 N. Austin Blvd.

301 N Austin BlvdChicago, IL 60644
  • Utilities Included
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La Rose Apartments
1 to 3 Bedroom Apartments

La Rose Apartments

5501 W Monroe StChicago, IL 60644
  • Utilities Included

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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300 N Menard Ave
1 to 4 Bedroom Apartments

300 N Menard Ave

300 N Menard AveChicago, IL 60644
  • Utilities Included
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123 N Central Ave
Studio to 1 Bedroom Apartments

123 N Central Ave

123 N Central AveChicago, IL 60644
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5125 W Madison
Studio to 1 Bedroom Apartments

5125 W Madison

5125 W Madison StChicago, IL 60644
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5836 W Madison
Studio to 1 Bedroom Apartments

5836 W Madison

5836 W Madison StChicago, IL 60644
  • Utilities Included
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17-19 N Waller Ave
1 to 2 Bedroom Apartments

17-19 N Waller Ave

17-19 N Waller AveChicago, IL 60644
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5952 W Superior
Studio to 3 Bedroom Apartments

5952 W Superior

735-749 N Austin BlvdChicago, IL 60644
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5001 W Adams
Studio to 1 Bedroom Apartments

5001 W Adams

5001 W Adams StChicago, IL 60644
  • Utilities Included

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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4807-11 W Thomas St
Studio to 2 Bedroom Apartments

4807-11 W Thomas St

4807-11 W Thomas StChicago, IL 60651
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723 N Central
1 to 2 Bedroom Apartments

723 N Central

723-725 N Central AveChicago, IL 60644
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5328 W Harrison
1 to 2 Bedroom Apartments

5328 W Harrison

5328 W Harrison StChicago, IL 60644
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Oak Park Apartments
Studio to 3 Bedroom Apartments

Oak Park Apartments

5959 W West End AveChicago, IL 60644
  • Utilities Included
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729 N Central
1 to 2 Bedroom Apartments

729 N Central

729 N Central AveChicago, IL 60644
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5024 W Quincy
1 to 3 Bedroom Apartments

5024 W Quincy

5024-5028 W Quincy StChicago, IL 60644
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5952-58 W Superior
Studio to 2 Bedroom Apartments

5952-58 W Superior

5952-5958 W Superior StChicago, IL 60644

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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Austin, Chicago, IL Local Guide

Cheapest Available Austin Apartments for Rent

 

The cheapest available apartment rental in the Austin area of Chicago, IL is a Studio unit found at Washington Plaza priced from $890. 5836 W Madison has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable Austin apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Washington PlazaStudio ApartmentStudio,1BA$890
5836 W MadisonStudio ApartmentStudio,1BA$895
5957 W MadisonStudio ApartmentStudio,1BA$915
418 S Laramie1 Bedroom 1 Bath Apartment with Dining1BR,1BA$1,090
330 N Pine1 Bedroom 1 Bath Apartment1BR,1BA$1,095
5018 W Jackson1 Bedroom 1 Bath Apartment1BR,1BA$1,125
310 N Menard1 Bedroom 1 Bath Apartment1BR,1BA$1,135
5500 W Van Buren2 Bedroom 1 Bath Apartment2BR,1BA$1,155
701 N Lotus2 Bedroom 1 Bath Apartment2BR,1BA$1,185

Best Value Apartments for Rent in Austin, IL

As of May 17, 2026 the best value apartment in the Austin area is the $0.66 price per square foot 2Bd/1B - w/ an office Model at 5567 W Van Buren St in the in the Austin neighborhood starting from $1,900. The second greatest value Austin apartment is the 4913 W Erie St Model at 4913 W Erie St, Unit #1 starting at $1,650 with a $0.66 price per square foot in the Austin neighborhood. Here is today’s list of the best values for Austin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5567 W Van Buren St2Bd/1B - w/ an office2BR,1BA$0.66
4913 W Erie St, Unit #14913 W Erie St2BR,1BA$0.66
5078 W Adams St, Unit 15078 W Adams St3BR,1BA$1.33
2007 N Lamon Ave, Unit 1N2007 N Lamon Ave2BR,1BA$1.24
902-910 N. Austin Blvd. and 4-10 Iowa St.902 N. Austin K2BR,1BA$1.46
5321 W Potomac Ave, Unit G5321 W Potomac Ave3BR,1BA$1.50
1228-1230 N. Austin Blvd.1230 Austin A1BR,1BA$1.52
701 N Lotus2 Bedroom 1 Bath Apartment2BR,1BA$1.48
310 N Menard1 Bedroom 1 Bath Apartment1BR,1BA$1.57
418 S Laramie1 Bedroom 1 Bath Apartment with Dining1BR,1BA$1.70

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Best Local Schools in
Austin, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Austin Apartments

What is the Cheapest Studio apartment in Austin?

Currently the most affordable Cheap Studio Apartment in Austin is at Washington Plaza listed at $890.

How much is rent for a Cheap One Bedroom Austin Apartment?

The lowest price for a Cheap One Bedroom Austin Apartment is $1,045 at 5957 W Madison.

What is the lowest price for a Cheap Two Bedroom Austin Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Austin is starting from $1,155 at 5500 W Van Buren.

What is the most affordable Austin Three Bedroom Apartment?

The best deal on a cheap Austin Three Bedroom Apartment rental is at 5735 W Washington and starts from $1,750.

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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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

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From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

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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.