close
View Me
Rent Specials
$1,299 - $2,377Studio to 4 Bedroom Apartments Available Now
Straits Row
633 S La Salle StChicago, IL 60605
Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $900 (227 Rentals)
Search the lowest-cost Apartments available for rent right now in the Chicago Loop area of Chicago.
close
View Me
Rent Specials
$1,411 - $2,631Studio to 2 Bedroom Apartments Available Jun 18
Gramercy Row Apartments
660 N Dearborn StChicago, IL 60654
close
View Me
$1,430
Total Monthly Price
Studio Apartments Available Nov 2Total Monthly Price
Base Rent
$1,430
Total Monthly Price
$1,430
61 W Erie St, Unit SI FL3-ID1400
61 W Erie StChicago, IL 60654
close
View Me
$1,434 - $1,978
Total Monthly Price
Studio to 1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,434 - $1,978
Total Monthly Price
$1,434 - $1,978
1136 N La Salle Dr
1136 N La Salle DrChicago, IL 60610
close
View Me
$1,695 - $2,895Studio to 3 Bedroom Apartments Available Now
Pittsfield Apartments
55 E Washington StChicago, IL 60602
899 S Plymouth Ct, Unit Dearborn Park - South Loo
899 S Plymouth Ct
ChicagoIL60605
close
View Me
$1,719 - $2,659Studio to 2 Bedroom Apartments Available Now
820 Michigan by 3L Living
820 S Michigan AveChicago, IL 60605
close
View Me
Rent Specials
$1,760 - $2,575Studio to 2 Bedroom Apartments Available Now
MDA Apartments
63 E Lake StChicago, IL 60601
777 N Michigan Ave
ChicagoIL60611
close
View Me
$1,830 - $4,045Studio to 3 Bedroom Apartments Available Now
Axis Apartments and Lofts
441 E Erie StChicago, IL 60611
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.
close
View Me
$1,840
Total Monthly Price
Studio Apartments Available Aug 1Total Monthly Price
Base Rent
$1,840
Total Monthly Price
$1,840
188 N Wells St, Unit SI FL3-ID1236
188 N Wells StChicago, IL 60606
61 W Erie St
ChicagoIL60654
close
View Me
$1,875 - $3,300Studio to 1 Bedroom Apartments Available Now
Marina City
300 N State StChicago, IL 60654
close
View Me
$1,880 - $2,970Studio to 2 Bedroom Apartments Available Now
777 South State
2 E 8th StChicago, IL 60605
close
View Me
$1,920 - $2,922Studio to 2 Bedroom Apartments Available Now
Century Tower
182 W Lake StChicago, IL 60601
197 W Randolph St
ChicagoIL60601
close
View Me
$1,935 - $3,670Studio to 3 Bedroom Apartments Available Now
Fisher Building Apartments
343 S Dearborn StChicago, IL 60604
close
View Me
Rent Specials
$1,945 - $2,415Studio to 1 Bedroom Apartments Available Now
330 S. Wells St
330 S Wells StChicago, IL 60606
close
View Me
$1,945 - $5,760Studio to 2 Bedroom Apartments Available Jun 27
Randolph Tower City Apartments
188 W Randolph StChicago, IL 60601
141 W Randolph St
ChicagoIL60601
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.
70 W Huron St, Unit 12
70 W Huron St
ChicagoIL60654
close
View Me
$1,950
Total Monthly Price
Studio Apartment Available NowTotal Monthly Price
Base Rent
$1,950
Total Monthly Price
$1,950
211 E Ohio St, Unit 712
211 E Ohio StChicago, IL 60611
close
View Me
$1,959 - $3,3791 to 3 Bedroom Apartments Available Now
731 Plymouth by 3L Living
731 S Plymouth CtChicago, IL 60605
close
View Me
$1,967 - $4,360Studio to 2 Bedroom Apartments Available Now
Columbus Plaza
233 E Wacker DrChicago, IL 60601
130 N Garland Ct
ChicagoIL60602
200 W Superior St, Unit 2706B
200 W Superior St
ChicagoIL60654
211 E Ohio St, Unit 1711
211 E Ohio St
ChicagoIL60611
200 N Dearborn St, Unit 1503
200 N Dearborn St
ChicagoIL60601
200 N Dearborn St, Unit 1503
200 N Dearborn St
ChicagoIL60601
1 E 8th St
ChicagoIL60605
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.
800 S Clark St, Unit 415
800 S Clark St
ChicagoIL60605
close
View Me
Rent Specials
$2,020 - $3,275Studio to 2 Bedroom Apartments Available Jul 2
The Alfred
30 E Adams StChicago, IL 60603
close
View Me
Rent Specials
$2,029 - $9,702
Total Monthly Price
Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$2,029 - $9,702
Total Monthly Price
Varies
1001 South State
1001 S State StChicago, IL 60605
70 W Huron St
ChicagoIL60654
72 W Huron St
ChicagoIL60654
close
View Me
$2,035 - $3,034Studio to 3 Bedroom Apartments Available Now
West77 Apartments
77 W HuronChicago, IL 60654
close
View Me
Rent Specials
$2,041 - $4,750Studio to 4 Bedroom Apartments Available Now
River City Apartments
800 S Wells StChicago, IL 60607
close
View Me
$2,050 - $2,4001 Bedroom Apartments Available Now
10 E. Ontario St.
10 E Ontario StChicago, IL 60611
440 N Wabash Ave, Unit 01707
440 N Wabash Ave
ChicagoIL60611
400 N La Salle Dr
ChicagoIL60654
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.
106 W Chicago Ave, Unit 304
106 W Chicago Ave
ChicagoIL60654
close
View Me
$2,070
Total Monthly Price
Studio Apartments Available Nov 16Total Monthly Price
Base Rent
$2,070
Total Monthly Price
$2,070
1000 S Michigan Ave, Unit SI FL25-ID1349
1000 S Michigan AveChicago, IL 60605
close
View Me
$2,079 - $3,439Studio to 2 Bedroom Apartments Available Now
Astoria Tower
8 E 9th StChicago, IL 60605
close
View Me
$2,095 - $2,445Studio to 1 Bedroom Apartments Available Now
320 N. Michigan
320 N Michigan AveChicago, IL 60601
close
View Me
$2,095 - $7,300Studio to 3 Bedroom Apartments Available Now
Hugo River North
751 N Hudson AveChicago, IL 60654
close
View Me
$2,097 - $5,202Studio to 3 Bedroom Apartments Available Now
The Grand Central
221 W Harrison StChicago, IL 60607
780 S Federal St, Unit 1004
780 S Federal St
ChicagoIL60605
400 E Randolph St, Unit 821
400 E Randolph St
ChicagoIL60601
630 N Franklin St
ChicagoIL60654
close
View Me
$2,100
Total Monthly Price
1 Bedroom Apartments Available Aug 3Total Monthly Price
Base Rent
$2,100
Total Monthly Price
$2,100
188 N Wells St, Unit SI FL3-ID1237
188 N Wells StChicago, IL 60606
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
Chicago Loop, Chicago, IL Local Guide
Overview by bz3rk is licensed under CC BY 2.0
How much does it cost to rent an apartment in Chicago Loop?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Chicago Loop Studio Apartments | $2,581 | $1,411 | $4,872 |
| Chicago Loop 1 Bedroom Apartments | $3,130 | $1,749 | $10,000+ |
| Chicago Loop 2 Bedroom Apartments | $4,601 | $970 | $10,000+ |
| Chicago Loop 3 Bedroom Apartments | $6,602 | $999 | $10,000+ |
| Chicago Loop 4 Bedroom Apartments | $2,981 | $970 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 227 rentals with your search options within a 1 mile radius of the Chicago Loop Neighborhood of Chicago, IL.
See all Apartments in ChicagoExplore Chicago
Chicago Loop, Chicago, IL Local Guide
- Nearby Chicago neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Chicago Loop Apartments for Rent
The cheapest available apartment rental in the Chicago Loop area of Chicago, IL is a 4 Beds unit found at The Buckingham Student Living priced from $1,649. 820 Michigan by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $1,719. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Buckingham Student Living | 4x2 All Private Floors 14-18 | 4BR,2BA | $1,649 |
| 820 Michigan by 3L Living | Studio East | Studio,1BA | $1,719 |
| 330 S. Wells St | 01 Tier Studio | Studio,1BA | $1,945 |
| 731 Plymouth by 3L Living | 1 Bedroom East | 1BR,1BA | $1,959 |
| Axis Apartments and Lofts | Convertible Studio | Studio,1BA | $1,990 |
| Marina City | Furnished Studio | Studio,1BA | $2,000 |
| 10 E. Ontario St. | 1 Bedroom Corner | 1BR,1BA | $2,050 |
| Astoria Tower | Studio 08A | Studio,1BA | $2,079 |
Best Value Apartments for Rent in Chicago Loop, IL
As of June 12, 2026 the best value apartment in the Chicago Loop area is the $2.11 price per square foot Two Bedroom 1324 sq ft Model at 440 N. Wabash Ave. in the in the Magnificent Mile neighborhood starting from $2,800. The second greatest value Chicago Loop apartment is the 333 E Wacker Dr Model at 333 E Wacker Dr, Unit 17 starting at $3,400 with a $2.83 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 440 N. Wabash Ave. | Two Bedroom 1324 sq ft | 2BR,2BA | $2.11 |
| 333 E Wacker Dr, Unit 17 | 333 E Wacker Dr | 2BR,2BA | $2.83 |
| Lofts At River East | 1 Bedroom | 1BR,1BA | $2.60 |
| 731 Plymouth by 3L Living | 3 Bedroom East | 3BR,1.5BA | $2.88 |
| The Buckingham Student Living | 4x2 All Private Floors 3-13 | 4BR,2BA | $1.67 |
| 10 E. Ontario St. | 1 Bedroom | 1BR,1BA | $2.11 |
| Asbury Plaza | Deluxe One Bedroom | 1BR,1BA | $2.90 |
| Fisher Building Apartments | A6 | 1BR,1BA | $2.98 |
| Columbus Plaza | 1 Bedroom | 1BR,1BA | $2.91 |
| 545 N Dearborn St, Unit 2201B | 545 N Dearborn St | 1BR,1BA | $3.08 |
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
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 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.
Let everyone know!
Do you know the Chicago Loop area?
If you’re an expert on all things Chicago Loop, tell us what you love (and don't) by rating it and writing a review.
Write a Review
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 $2,079.
What is the price of a cheap apartment in Chicago Loop?
The cheapest apartment in Chicago Loop is 731 Plymouth which is listed at $1,959, while the average apartment in Chicago Loop costs $5,999.
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 94 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 $609 which is $5,390 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
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
Written by: Nicole Harms
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
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.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.