
Cheap Apartments for Rent in the Downtown Chicago Neighborhood of Chicago, IL from $600 (122 Rentals) Page 3 of 3
Search the lowest-cost Apartments available for rent right now in the Downtown Chicago area of Chicago.


544 Oak at Parkside of Old Town

Wicker Park Lofts

Larrabee Place at Parkside of Old Town

Atrium at Old Town Park

1659 W. 21st St. / 2109 S. Paulina St.

1758 W. 21st Pl. / 2115 S. Wood St.

1249 N Greenview Ave

MDA Apartments

204 W Hill Street
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.

East Village Lofts

1100 N Dearborn

915 S Aberdeen St

1845 W Superior St

Vesta Lofts Apartments

Lexington 90

1507 W Taylor St

1625 W Superior St

1449-1453 W Flournoy St

1436 W Erie
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

Warren Apartments

10 West Elm
Downtown Chicago, Chicago, IL Local Guide

How much does it cost to rent an apartment in Downtown Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Chicago Studio Apartments | $2,468 | $1,263 | $9,922 |
| Downtown Chicago 1 Bedroom Apartments | $3,000 | $900 | $9,987 |
| Downtown Chicago 2 Bedroom Apartments | $4,246 | $970 | $10,000+ |
| Downtown Chicago 3 Bedroom Apartments | $5,831 | $989 | $10,000+ |
| Downtown Chicago 4 Bedroom Apartments | $2,684 | $924 | $10,000+ |
| Downtown Chicago 5 Bedroom Apartments | $6,821 | $3,200 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 122 rentals with your search options within a 2 mile radius of the Downtown Chicago Neighborhood of Chicago, IL.
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Frequently Asked Questions about Cheap Downtown Chicago Apartments
What is a cheap apartment in Downtown Chicago?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Chicago is under $1,375.
What is the price of a cheap apartment in Downtown Chicago?
The cheapest apartment in Downtown Chicago is West Haven Park II - B which is listed at $660, while the average apartment in Downtown Chicago costs $15,215.
What types of apartments are the cheapest in Downtown Chicago?
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 139 regular apartments in Downtown Chicago 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 Downtown Chicago?
Cheap apartments in Downtown Chicago have an average cost of $458 which is $14,757 cheaper than the average rent for all rentals in Downtown Chicago.
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

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.

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.

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.