Cheap Homes for Rent in Austin Neighborhood of Chicago, IL from $1,100 (16 Rentals)

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

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 Pine North priced from $765. 5125 W Madison St has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Austin apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Pine North0BR/1.0BAStudio,1BA$765
5125 W Madison StStudio ApartmentStudio,1BA$875
5957 W Madison StStudio ApartmentStudio,1BA$900
4850 W North AveNSTUDIO1Studio,1BA$990
5018 W Jackson Blvd1 Bedroom 1 Bath Apartment1BR,1BA$1,060

Best Value Apartments for Rent in Austin, IL

As of July 25, 2025 the best value apartment in the Austin area is the $1.29 price per square foot 162 N La Crosse Ave Model at 162 N La Crosse Ave, Unit 2nd Fl. in the in the Austin neighborhood starting from $1,800. The second greatest value Austin apartment is the 2007 N Lamon Ave Model at 2007 N Lamon Ave, Unit 1N starting at $1,495 with a $1.20 price per square foot in the Cragin 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.
162 N La Crosse Ave, Unit 2nd Fl.162 N La Crosse Ave2BR,1BA$1.29
2007 N Lamon Ave, Unit 1N2007 N Lamon Ave2BR,1BA$1.20
5100-04 W Madison St3 Bedroom 2 Bathroom Apartment3BR,2BA$1.17
1102 N Central Ave, Unit 11102 N Central Ave2BR,1BA$1.48
423-25 N Central Ave3 Bedroom 1 Bath Apartment3BR,1BA$1.47
418-24 S Laramie Ave3 Bedroom 2 Bathroom Apartment3BR,2BA$1.59
950 N Mayfield Ave, Unit 2N950 N Mayfield Ave1BR,1BA$1.29
5328 W Harrison2 Bedroom 1 Bath Apartment2BR,1BA$1.51
5309 W Jackson Blvd, Unit 2ndfloor5309 W Jackson Blvd2BR,1BA$1.30
4815 W Monroe St1 Bedroom1BR,1BA$1.52

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Austin

What type of rentals are currently available in Austin?

There are currently 543 Apartments for Rent in Austin, IL with pricing that ranges from $900 to $3,378. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Austin ranging from $1,150 to $3,300.

What is the current price range for Rental Homes in Austin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Austin ranges from $1,150 to $3,300 with an average monthly rent of $1,878.

How much are larger Three and Four Bedroom Rentals in Austin?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Austin range from $1,550 to $2,325, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,800 to $2,300. Four Bedroom Single-Family rentals are also available starting from $2,695 and Four Bedroom Apartments start at $1,850.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.