Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $900 (326 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Chicago Loop area of Chicago.

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 777 N Michigan Ave

$1,850 - $2,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $2,150
Total Monthly Price
$1,850 - $2,150

Studio, 1 Bath Condo for Rent

Available Aug 1

777 N Michigan Ave

ChicagoIL60611

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 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 405 N WABASH

$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

405 N WABASH, Unit 2212

405 N WABASH
ChicagoIL60611
property at 440 N Wabash 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

440 N Wabash Ave, Unit 2903

440 N Wabash Ave
ChicagoIL60611
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
property at 345 N La Salle Dr

$2,000 - $5,900

Studio To 3 Bedroom Rentals

Available Now

345 N La Salle Dr

ChicagoIL60654

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

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property at 211 E Ohio St

$2,100

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Home for Rent

Available Now

211 E Ohio St, Unit 2513

211 E Ohio St
ChicagoIL60611
property at 535 N michigan Ave

$2,100

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

535 N michigan Ave, Unit 2507

535 N michigan Ave
ChicagoIL60611
property at 216 N Wells St

$2,100

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Aug 1

216 N Wells St, Unit 1402

216 N Wells St
ChicagoIL60606
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AMLI 808
$2,143 - $6,011
Total Monthly Price

Total Monthly Price

Base Rent
$2,143 - $6,011
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Aug 1

AMLI 808

808 N Wells StChicago, IL 60610
Luxury
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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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Chicago Loop, Chicago, IL Local Guide

Cheapest Available Chicago Loop Apartments for Rent

 

The cheapest available apartment rental in the Chicago Loop area of Chicago, IL is a Studio unit found at Astoria Tower priced from $1,722. Axis Apartments and Lofts has the second lowest priced unit, which is a Studio apartment currently listed from $1,870. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Astoria TowerStudio 08AStudio,1BA$1,722
Axis Apartments and LoftsStudioStudio,1BA$1,870
63 E LakeS8Studio,1BA$1,925
330 S. Wells St02 Tier StudioStudio,1BA$1,950
Marina CityFurnished StudioStudio,1BA$2,000
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$2,009
Columbus PlazaStudio EliteStudio,1BA$2,095
Hugo River NorthStudioStudio,1BA$2,095
The Grand CentralS3Studio,1BA$2,098
777 South StateOne Bedroom1BR,1BA$2,110

Best Value Apartments for Rent in Chicago Loop, IL

As of July 27, 2026 the best value apartment in the Chicago Loop 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 Chicago Loop apartment is the Two Bedroom 1324 sq ft Model at 440 N. Wabash Ave. starting at $2,800 with a $2.11 price per square foot in the Magnificent Mile neighborhood. Here is today’s list of the best values for Chicago Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fisher Building ApartmentsC5PH2BR,2.5BA$2.74
440 N. Wabash Ave.Two Bedroom 1324 sq ft2BR,2BA$2.11
10 E. Ontario St.2 Bedroom2BR,2BA$2.88
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.88
777 South StateTwo Bedroom One Bathroom2BR,1BA$2.86
607 N Wells St607 N Wells St1BR,1BA$2.88
750 N. Rush1-BR/1BA1BR,1BA$3.06
211 E Ohio St, Unit 2719211 E Ohio St1BR,1BA$2.71
Asbury PlazaDeluxe One Bedroom1BR,1BA$2.90
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

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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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Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities and towns, and rental properties across Illinois, including Chicago. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Chicago Loop Apartments

What is a cheap apartment in Chicago Loop?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Chicago Loop is under $2,110.

What is the price of a cheap apartment in Chicago Loop?

The cheapest apartment in Chicago Loop is Astoria Tower which is listed at $1,945, while the average apartment in Chicago Loop costs $31,954.

What types of apartments are the cheapest in Chicago Loop?

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 41 regular apartments in Chicago Loop 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 Chicago Loop?

Cheap apartments in Chicago Loop have an average cost of $485 which is $31,469 cheaper than the average rent for all rentals in Chicago Loop.

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

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

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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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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.

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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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.