Cheap Apartments for Rent in the Central Chicago Neighborhood of Chicago, IL from $900 (37 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the Central Chicago 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.

Read Article

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.

Read Article

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

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

Read Article
close
View Me
525 S. Dearborn St.
Studio to 2 Bedroom Apartments

525 S. Dearborn St.

525-537 S Dearborn StChicago, IL 60605
  • Utilities Included
close
View Me
2001 S State St
2 to 3 Bedroom Apartments

2001 S State St

2001 S State StChicago, IL 60616
  • Utilities Included
close
View Me
ELEVEN THIRTY
Studio to 2 Bedroom Apartments

ELEVEN THIRTY

1130 S Michigan AveChicago, IL 60605

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.

Read Article
close
View Me
180 W. Adams
Studio to 1 Bedroom Apartments

180 W. Adams

180 W Adams StChicago, IL 60603
Corporate Housing
Showing Results 1-37, Page 1 of 1

Central Chicago, Chicago, IL Local Guide

Cheapest Available Central Chicago Apartments for Rent

 

The cheapest available apartment rental in the Central Chicago area of Chicago, IL is a Studio unit found at Pittsfield Apartments priced from $1,450. Park Michigan - 1212 S Michigan Ave has the second lowest priced unit, which is a Studio apartment currently listed from $1,742. Here are the most affordable Central Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Pittsfield ApartmentsStudio - Style HStudio,1BA$1,450
Park Michigan - 1212 S Michigan AveStudio 1ba 07Studio,1BA$1,742
30 East RooseveltER_1x11BR,1BA$1,750
777 South StateConvertible StudioStudio,1BA$1,755
Eleven40S3Studio,1BA$1,829
The AlfredB4Studio,1BA$1,841
ImprintConvertible HCStudio,1BA$1,862
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$1,864
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,876
1407 on MichiganS5Studio,1BA$1,888

Best Value Apartments for Rent in Central Chicago, IL

As of November 28, 2025 the best value apartment in the Central Chicago area is the $2.34 price per square foot 2 BED 2 BATH LOFT STYLE Model at Carriage House Lofts in the in the Near South Side neighborhood starting from $2,738. The second greatest value Central Chicago apartment is the C6 Model at Coeval starting at $3,348 with a $2.95 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Central Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Carriage House Lofts2 BED 2 BATH LOFT STYLE2BR,2BA$2.34
CoevalC62BR,2BA$2.95
731 Plymouth by 3L Living2 Bedroom West2BR,1BA$2.19
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
777 South StateTwo Bedroom Two Bathrooms2BR,2BA$2.93
1401 S. StateA14-R1BR,1BA$2.92
Fisher Building ApartmentsA61BR,1BA$3.00
Burnham PointeResidence 1 (1BR/1BA)1BR,1BA$3.19
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$2.80
30 East RooseveltER_1x11BR,1BA$3.03

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.

Read Article
Decorative image

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

Read Article
Decorative image

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Decorative image

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

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Central Chicago, Chicago, IL

Ranked #28

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Frequently Asked Questions about Cheap Central Chicago Apartments

What is the Cheapest Studio apartment in Central Chicago?

Currently the most affordable Cheap Studio Apartment in Central Chicago is at Pittsfield Apartments listed at $1,450.

How much is rent for a Cheap One Bedroom Central Chicago Apartment?

The lowest price for a Cheap One Bedroom Central Chicago Apartment is $1,750 at 30 East Roosevelt.

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

Today's best deal for a Cheap Two Bedroom Apartment in Central Chicago is starting from $2,196 at 731 Plymouth by 3L Living.

What is the most affordable Central Chicago Three Bedroom Apartment?

The best deal on a cheap Central Chicago Three Bedroom Apartment rental is at Carriage House Lofts and starts from $3,299.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.