Cheap Homes for Rent in Central Chicago Neighborhood of Chicago, IL from $600 (117 Rentals)

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

property at 1530 S State St

1530 S State St

ChicagoIL60605
property at 40 E 9th St

40 E 9th St

ChicagoIL60605
property at 871 S Clark St

871 S Clark St

ChicagoIL60605
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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. 30 East Roosevelt has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,750. 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
30 East RooseveltER_1x11BR,1BA$1,750
The AlfredB5Studio,1BA$1,825
Park Michigan - 1212 S Michigan AveStudio 1ba 07Studio,1BA$1,843
ELEVEN THIRTYTier 5/11 (1BR/1BA)1BR,1BA$1,852
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$1,864
AMLI 900RetroStudio,1BA$1,903
Eleven40S3Studio,1BA$1,927
The Grand CentralGraW.S3Studio,1BA$1,945
1407 on MichiganS1Studio,1BA$1,958

Best Value Apartments for Rent in Central Chicago, IL

As of November 14, 2025 the best value apartment in the Central Chicago area is the $2.30 price per square foot 3 BED 2 BATH Model at Carriage House Lofts in the in the Near South Side neighborhood starting from $3,429. The second greatest value Central Chicago apartment is the 2 Bedroom West Model at 731 Plymouth by 3L Living starting at $2,209 with a $2.19 price per square foot in the South Loop 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 Lofts3 BED 2 BATH3BR,2BA$2.30
731 Plymouth by 3L Living2 Bedroom West2BR,1BA$2.19
320 E 21st St, Unit 503320 E 21st St2BR,1BA$2.70
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
777 South StateTwo Bedroom Two Bathrooms2BR,2BA$2.93
Roosevelt Collection LoftsN2BR,2BA$3.26
Fisher Building ApartmentsB22BR,1BA$2.78
1401 S. StateA14-R1BR,1BA$2.90
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$2.80
30 East RooseveltER_1x11BR,1BA$3.03

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Central Chicago, Chicago, IL

Ranked #26

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 192 Apartments for Rent in Central Chicago, IL with pricing that ranges from $1,380 to $34,228. There are also 305 Single Family Homes for rent, Condos, and Townhome rentals currently available in Central Chicago ranging from $660 to $10,900.

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 $660 to $10,900 with an average monthly rent of $3,797.

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 $2,751 to $18,664, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,400 to $7,300. Four Bedroom Single-Family rentals are also available starting from $660 and Four Bedroom Apartments start at $5,035.

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.

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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.