Cheap Studio Apartments for Rent in the Downtown Chicago Neighborhood of Chicago, IL from $1,105 (54 Rentals)

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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.

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1154 N Dearborn St
$1,425 - $1,525
Total Monthly Price

Total Monthly Price

Base Rent
$1,425 - $1,525
Total Monthly Price
$1,425 - $1,525
Studio Apartment Available Now

1154 N Dearborn St

1154 N Dearborn StChicago, IL 60610
Affordability

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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Pittsfield Apartments
$1,595 - $1,695
Total Monthly Price

Total Monthly Price

Base Rent
$1,445 - $3,145
Required Monthly Fees
$150
Total Monthly Price
$1,595 - $3,295
Studio Apartments Available Jun 1

Pittsfield Apartments

55 E Washington StChicago, IL 60602
Furnished
  • Verified
  • Customer Reviewed
  • Smoke Free

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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Presidential Towers
$1,800 - $3,602
Total Monthly Price

Total Monthly Price

Base Rent
$1,795 - $5,616
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio Apartments Available Now

Presidential Towers

555 W Madison StChicago, IL 60661
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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Gold Coast
Studio Apartments

Gold Coast

1009-1015 N Clark StChicago, IL 60610
  • Utilities Included
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1809 S Carpenter St
Studio Apartments

1809 S Carpenter St

1809 S Carpenter StChicago, IL 60608
  • Utilities Included
  • Smoke Free

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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Illume
Studio Apartments

Illume

111 S Peoria StChicago, IL 60607
Furnished
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600 N Lake Shore Dr
Studio Apartments

600 N Lake Shore Dr

600 N Lake Shore DrChicago, IL 60611
Furnished
  • Utilities Included
  • Smoke Free
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R+D659
Studio Apartments

R+D659

645-659 W Randolph StChicago, IL 60661
Furnished
  • Smoke Free
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55 E Erie St
Studio Apartments

55 E Erie St

55 E Erie StChicago, IL 60611
Corporate Housing
  • Smoke Free
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Luxury condo unit
Studio Apartments

Luxury condo unit

333 N CanalChicago, IL 60606
Corporate Housing
  • Smoke Free
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Wicker Park Lofts
Studio Apartments

Wicker Park Lofts

1515-1519 W Haddon AveChicago, IL 60642
  • Utilities Included
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35 E Division St
Studio Apartments

35 E Division St

35 E Division StChicago, IL 60610
  • Utilities Included

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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Downtown Chicago, Chicago, IL Local Guide

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

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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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Quick 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.

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Best Local Schools in
Downtown Chicago, Chicago, IL

School data provided by Great Schools

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 $1,350.

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

The cheapest apartment in Downtown Chicago is Prairie Shores which is listed at $1,120, while the average apartment in Downtown Chicago costs $32,330.

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 355 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 $557 which is $31,773 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

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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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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.

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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.

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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

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.