Cheap Homes for Rent in the Austin Neighborhood of Chicago, IL from $1,000 (19 Rentals)

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The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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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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Showing Results 1-19, Page 1 of 1

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 5836 W Madison priced from $895. 5948 W Superior has the second lowest priced unit, which is a Studio apartment currently listed from $935. Here are the most affordable Austin apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5836 W MadisonStudio ApartmentStudio,1BA$895
5948 W SuperiorStudio ApartmentStudio,1BA$935
5001 W AdamsStudio ApartmentStudio,1BA$960
567 N Pine Ave2B1BR,1BA$1,000
1145 N AustinStudio ApartmentStudio,1BA$1,015

Best Value Apartments for Rent in Austin, IL

As of August 30, 2026 the best value apartment in the Austin area is the $0.86 price per square foot 1706 N Mayfield Ave Model at 1706 N Mayfield Ave, Unit 2 in the in the Austin neighborhood starting from $1,550. The second greatest value Austin apartment is the 4 Bedroom 1.5 Bath Apartment Model at 654 N Pine starting at $1,925 with a $1.20 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.
1706 N Mayfield Ave, Unit 21706 N Mayfield Ave3BR,1BA$0.86
654 N Pine4 Bedroom 1.5 Bath Apartment4BR,1.5BA$1.20
5100 W Madison3 Bedroom 2 Bath Apartment with Dining3BR,2BA$1.18
W. Washington3BR/1.0BA3BR,1BA$1.68
5223-5225 W Washington Blvd2 Bed 1 Bath2BR,1BA$1.36
1056 N Central Ave, Unit 21056 N Central Ave3BR,1BA$1.48
619 N Menard Ave, Unit 2619 N Menard Ave2BR,1BA$1.60
1717 N Lotus Ave, Unit Basement1717 N Lotus Ave2BR,1BA$1.56
400 S Laramie2 Bedroom 1 Bath Apartment2BR,1BA$1.50
567 N Pine Ave2B1BR,1BA$1.43

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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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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Best Local Schools in
Austin, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Austin

What type of rentals are currently available in Austin?

There are currently 548 Apartments for Rent in Austin, IL with pricing that ranges from $890 to $9,676. There are also 42 Single Family Homes for rent, Condos, and Townhome rentals currently available in Austin ranging from $1,000 to $4,300.

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 $1,000 to $4,300 with an average monthly rent of $1,800.

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 $2,990, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,590 to $4,300. Four Bedroom Single-Family rentals are also available starting from $3,650 and Four Bedroom Apartments start at $1,800.

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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The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

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

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Written by: Nicole Harms

Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

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.