Cheap Homes for Rent in the Central Chicago Neighborhood of Chicago, IL from $1,100 (68 Rentals)

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

property at 40 E 9th St

$1,650

Studio To 1 Bedroom Rentals

Available Now

40 E 9th St

ChicagoIL60605
property at 1255 S State St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

Studio, 1 Bath Condo for Rent

Available Aug 1

1255 S State St, Unit 15B

1255 S State St
ChicagoIL60605

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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property at 630 S Clark St

$2,000

Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000

Studio, 1 Bath Condo for Rent

Available Now

630 S Clark St, Unit 3711

630 S Clark St
ChicagoIL60605
property at 1400 S Michigan Ave

$2,000

Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000

Studio, 1 Bath Condo for Rent

Available Now

1400 S Michigan Ave, Unit 27G

1400 S Michigan Ave
ChicagoIL60605

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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property at 130 N Garland Ct

$2,000 - $2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,000 - $2,100
Total Monthly Price
$2,000 - $2,100

Studio, 1 Bath Condo for Rent

Available Aug 1

130 N Garland Ct

ChicagoIL60602

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

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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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!

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property at 712 S Wells St

$2,188

Studio, 1 Bath Rentals

Available Now

712 S Wells St

ChicagoIL60607
property at 871 S Clark St

$2,195

Studio, 1 Bath Rentals

Available Now

871 S Clark St

ChicagoIL60605

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Showing Results 1-50, Page 1 of 2

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 Astoria Tower priced from $1,722. 330 S. Wells St has the second lowest priced unit, which is a Studio apartment currently listed from $1,950. Here are the most affordable Central Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Astoria TowerStudio 08AStudio,1BA$1,722
330 S. Wells St02 Tier StudioStudio,1BA$1,950
Park Michigan - 1212 S Michigan AveStudio 1ba 03Studio,1BA$1,955
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$2,009
The Grand CentralS3Studio,1BA$2,098
30 East RooseveltER_2x12BR,1BA$2,100
777 South StateOne Bedroom1BR,1BA$2,110
AMLI 900SportyStudio,1BA$2,194
2001 S State St2 Bed/2 Bath2BR,2BA$2,195

Best Value Apartments for Rent in Central Chicago, IL

As of July 27, 2026 the best value apartment in the Central Chicago area is the $2.74 price per square foot C5PH Model at Fisher Building Apartments in the in the Chicago Loop neighborhood starting from $3,635. The second greatest value Central Chicago apartment is the 2 BED 2 BATH Model at Carriage House Lofts starting at $2,899 with a $2.24 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.
Fisher Building ApartmentsC5PH2BR,2.5BA$2.74
Carriage House Lofts2 BED 2 BATH2BR,2BA$2.24
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.88
777 South StateTwo Bedroom One Bathroom2BR,1BA$2.86
Wells Place Apartments1 Bed 1 Bath A41BR,1BA$3.17
30 East RooseveltER_2x12BR,1BA$2.38
2001 S State St2 Bed /1 Bath2BR,1BA$2.74
1401 S. StateA3PH1BR,1BA$3.43
ONE333One Bedroom a41BR,1BA$3.35
Astoria TowerStudio 08AStudio ,1BA$3.15

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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Pet Friendly Lifestyle
Central Chicago, Chicago, IL

Ranked #27

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Central Chicago

What type of rentals are currently available in Central Chicago?

There are currently 186 Apartments for Rent in Central Chicago, IL with pricing that ranges from $924 to $28,356. There are also 267 Single Family Homes for rent, Condos, and Townhome rentals currently available in Central Chicago ranging from $1,160 to $12,500.

What is the current price range for Rental Homes in Central Chicago?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Central Chicago ranges from $1,160 to $12,500 with an average monthly rent of $3,313.

How much are larger Three and Four Bedroom Rentals in Central Chicago?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Central Chicago range from $989 to $9,722, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,275 to $12,500. Four Bedroom Single-Family rentals are also available starting from $1,160 and Four Bedroom Apartments start at $924.

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

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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

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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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From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

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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.

Articles, How-To's, and Tips

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

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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.

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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