Cheap Apartments for Rent in the Austin Neighborhood of Chicago, IL from $700 (146 Rentals)

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

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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238 N Lockwood Ave
$1,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500
2 Bedroom Apartment Available Now

238 N Lockwood Ave

238 N Lockwood AveChicago, IL 60644
Affordability
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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
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542 N Pine Ave
Studio to 3 Bedroom Apartments

542 N Pine Ave

542 N Pine AveChicago, IL 60644
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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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5402 W Rice St
Studio to 2 Bedroom Apartments

5402 W Rice St

5402 W Rice StChicago, IL 60651

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

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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
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300 N Menard Ave
1 to 4 Bedroom Apartments

300 N Menard Ave

300 N Menard AveChicago, IL 60644
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5836 W Madison St
Studio to 1 Bedroom Apartments

5836 W Madison St

5836 W Madison StChicago, IL 60644
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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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5948 W Superior St
Studio to 1 Bedroom Apartments

5948 W Superior St

5948 W Superior StChicago, IL 60644
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4850 W North Ave
Studio to 3 Bedroom Apartments

4850 W North Ave

4850 W North AveChicago, IL 60639

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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 5402 W Rice St priced from $800. Washington Plaza has the second lowest priced unit, which is a Studio apartment currently listed from $890. Here are the most affordable Austin apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5402 W Rice StStudio ApartmentStudio,1BA$800
Washington PlazaStudio ApartmentStudio,1BA$890
5957 W Madison StStudio ApartmentStudio,1BA$915
5836 W Madison StStudio ApartmentStudio,1BA$925
5948 W Superior StStudio ApartmentStudio,1BA$980
4850 W North AveNSTUDIO1Studio,1BA$990
5100-5104 W Monroe St1 Bedroom 1 Bath Apartment1BR,1BA$1,050
Oak Park Apartments1 Bedroom 1 Bath Apartment1BR,1BA$1,070
5040 W Quincy St2 Bedroom 1 Bath Garden2BR,1BA$1,107
432-438 N. Austin Blvd.432-438 N. Austin StudioStudio,1BA$1,109

Best Value Apartments for Rent in Austin, IL

As of April 01, 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 1731 N Central Ave Model at 1731 N Central Ave, Unit 1 starting at $1,550 with a $1.24 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
1731 N Central Ave, Unit 11731 N Central Ave2BR,1BA$1.24
5529 W Monroe St, Unit Unit 25529 W Monroe St3BR,1BA$1.38
4814 W Monroe St3 Bedroom 1 Bath Apartment3BR,1BA$1.22
5223-5225 W Washington Blvd2 Bed 1 Bath2BR,1BA$1.32
423 N Central Ave3 Bedroom 1 Bath Apartment3BR,1BA$1.31
400 S Laramie Ave2 Bedroom 1 Bath Apartment2BR,1BA$1.33
4815 W Monroe2 Bedroom 1 Bath Apartment2BR,1BA$1.35
5906 W Huron St, Unit 25906 W Huron St1BR,1BA$1.47
5328 W Harrison St2 Bedroom 1 Bath Garden2BR,1BA$1.52

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

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

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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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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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 5402 W Rice St listed at $800.

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

The lowest price for a Cheap One Bedroom Austin Apartment is $1,050 at 5100-5104 W Monroe St.

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 $1,107 at 5040 W Quincy St.

What is the most affordable Austin Three Bedroom Apartment?

The best deal on a cheap Austin Three Bedroom Apartment rental is at 4814 W Monroe St and starts from $1,400.

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

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

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.