Cheap Homes for Rent in Chicago Loop Neighborhood of Chicago, IL from $1,500 (256 Rentals)

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

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.

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property at 117 N Clark St

117 N Clark St

ChicagoIL60602

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 124 W Polk St

124 W Polk St

ChicagoIL60605

Chicago's Best Affordable Neighborhoods

Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

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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 4 Beds unit found at Buckingham priced from $1,149. Pittsfield Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,595. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Buckingham4x2. Floors 3-134BR,2BA$1,149
Pittsfield ApartmentsStudio - Style CStudio,1BA$1,595
MDA ApartmentsS2N - ModernStudio,1BA$1,640
820 Michigan by 3L LivingStudio EastStudio,1BA$1,689
Columbus PlazaConvertible1BR,1BA$1,849
Marina CityStudioStudio,1BA$1,900
Axis Apartments and LoftsConvertible StudioStudio,1BA$1,910
731 Plymouth by 3L Living1 Bedroom West1BR,1BA$1,926

Best Value Apartments for Rent in Chicago Loop, IL

As of June 19, 2025 the best value apartment in the Chicago Loop area is the $2.45 price per square foot B3PH Model at Fisher Building Apartments in the in the Chicago Loop neighborhood starting from $3,670. The second greatest value Chicago Loop apartment is the Two Bedroom 05C Model at Astoria Tower starting at $3,699 with a $2.74 price per square foot in the Near South Side 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 ApartmentsB3PH2BR,1.5BA$2.45
Astoria TowerTwo Bedroom 05C2BR,2BA$2.74
Wells Place Apartments2 Bed 2 Bath B62BR,2BA$2.84
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.84
Buckingham4x2. Floors 19-214BR,2BA$1.63
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
440 N. Wabash Ave.1 Bedroom - 1 Bathroom1BR,1BA$2.53
1150 S Michigan Ave, Unit 11150 S Michigan Ave1BR,1BA$2.93
777 South StateOne Bedroom1BR,1BA$2.75

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Chicago Loop

What type of rentals are currently available in Chicago Loop?

There are currently 336 Apartments for Rent in Chicago Loop, IL with pricing that ranges from $1,272 to $77,776. There are also 697 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago Loop ranging from $1,550 to $45,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chicago Loop ranges from $1,550 to $45,000 with an average monthly rent of $10,777.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Chicago Loop range from $1,899 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,100 to $18,500. Four Bedroom Single-Family rentals are also available starting from $6,000 and Four Bedroom Apartments start at $1,699.

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.