
Cheap Studio Apartments for Rent in the Central Chicago Neighborhood of Chicago, IL from $1,595 (37 Rentals)


30 East Roosevelt

820 Michigan by 3L Living

780 S Federal St

Total Monthly Price
Coeval

Fisher Building Apartments

777 South State

330 S. Wells St
Genius Ideas and Studio Layout Tips That Maximize Every Square Inch
Transform your studio apartment layout and maximize storage. Get proven ideas from a 20-year property expert to make any small space stylish and functional.

Park Michigan - 1212 S Michigan Ave

Eleven40

65 E 14th St

Total Monthly Price
Imprint

1171 S Michigan Ave

910 S Clark St

130 N Garland Ct

871 S Clark St

Total Monthly Price
1000 S Michigan Ave, Unit SI FL25-ID1349
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Create a productive work-from-home apartment setup, even in a small space or studio. Discover layout ideas, desk solutions, and organization tips that actually work.

713 S Clark St

Astoria Tower

River City Apartments

11 E 9th St

Total Monthly Price
343 S Dearborn St, Unit SI FL18-ID300

Total Monthly Price
1400 Wabash

630 S Clark St, Unit 3711, Unit 3711

1400 S Michigan Ave, Unit 27G, Unit 27G

Millennium on LaSalle
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.

1000 South Clark

Straits Row

The Elle Apartments

215 West Apartments

The Grand Central

221 W Polk St

1251 S Michigan - Senior Living

431 S Dearborn St
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.

ELEVEN THIRTY
Central Chicago, Chicago, IL Local Guide

How much does it cost to rent an apartment in Central Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
Central Chicago Studio Apartments | $2,327 | $1,595 | $9,940 |
| Central Chicago 1 Bedroom Apartments | $2,918 | $1,850 | $10,000+ |
| Central Chicago 2 Bedroom Apartments | $3,783 | $970 | $10,000+ |
| Central Chicago 3 Bedroom Apartments | $4,249 | $999 | $10,000+ |
| Central Chicago 4 Bedroom Apartments | $1,862 | $970 | $10,000+ |
Explore Chicago
Central Chicago, Chicago, IL Local Guide
- Nearby Chicago neighborhoods
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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 ArticleBest 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 ArticleA 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 ArticleReal 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.
Read ArticleQuick 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.
Pet Friendly LifestyleCentral Chicago, Chicago, IL
Ranked #23
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Central Chicago Apartments
What is a cheap apartment in Central Chicago?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Central Chicago is under $2,239.
What is the price of a cheap apartment in Central Chicago?
The cheapest apartment in Central Chicago is The Alfred which is listed at $1,900, while the average apartment in Central Chicago costs $3,469.
What types of apartments are the cheapest in Central Chicago?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 53 regular apartments in Central Chicago that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Central Chicago?
Cheap apartments in Central Chicago have an average cost of $966 which is $2,503 cheaper than the average rent for all rentals in Central Chicago.
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

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.

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.

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.

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.
Articles, How-To's, and Tips

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.

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.

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.

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.

