
Apartments for Rent in the Downtown Chicago Neighborhood of Chicago, IL Under $1,500 (95 Rentals)


14 West Elm Apartments

Prairie Shores

21st Street Lofts by 3L Living

Straits Row

Tailor Lofts

Dearborn Plaza

Prairie CoLiving

Gramercy Row Apartments

The Buckingham
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!

Letterman Chicago

Fulbrix Apartments

Violet Coliving

Student | The Flats East West

Canterbury Court Apartments

Eden Commons

25 E. Delaware

1164 N Dearborn

1624 S Throop St

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1160 N Dearborn St, Unit J01W
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.

Total Monthly Price
2046 W Iowa St, Unit G

Total Monthly Price
3149 S Emerald Ave, Unit 2R

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1160 N Dearborn St, Unit #1164-304

Total Monthly Price
1154 N Dearborn St, Unit 304

1160 N Dearborn St, Unit 212

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2046 W Iowa St, Unit G1

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1836 S Blue Island Ave, Unit 3F

3115 S Racine Ave, Unit 2R

3153 S May St, Unit 1R

201 N Garland Ct
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.

61 W Erie St

652 N Noble St

1836 S Blue Island Ave

61 W Erie St

445 E Ohio St

150 N Ashland Ave

215 W Lake St

61 W Erie St

330 S Wells St

2918 S Haynes Ct
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.

1210 S Indiana Ave

210 N Wells St

445 E Ohio St

340 E North Water St

2724 S Crowell St

1100 N La Salle Dr

1316 W 18th St

Sable Coliving

55 E Erie St

R+D659
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
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 | $2,385 | $1,105 | $5,225 |
| Downtown Chicago 1 Bedroom Apartments | $2,947 | $800 | $10,000+ |
| Downtown Chicago 2 Bedroom Apartments | $4,111 | $1,200 | $10,000+ |
| Downtown Chicago 3 Bedroom Apartments | $6,117 | $1,065 | $10,000+ |
| Downtown Chicago 4 Bedroom Apartments | $2,968 | $1,040 | $10,000+ |
| Downtown Chicago 5 Bedroom Apartments | $11,899 | $2,800 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 95 rentals with your search options within a 2 mile radius of the Downtown Chicago Neighborhood of Chicago, IL.
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Downtown Chicago, Chicago, IL Local Guide
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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.
Read ArticleThe 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.
Read ArticleCash 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.
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 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.
Best Local Schools in Downtown Chicago, Chicago, IL
South Loop Elementary School
Jones College Prep High School
School data provided by Great Schools
Frequently Asked Questions about Downtown Chicago
How much are Studio apartments in Downtown Chicago?
There are currently 830 Studio Apartments in Downtown Chicago with rent ranges from $1,105 to $5,225 with an average price of $2,385.
What is the current price range for One Bedroom Downtown Chicago Apartments for rent?
Today's rental pricing for One Bedroom Apartments in Downtown Chicago ranges from $800 to $15,732 with an average monthly rent of $2,947.
What does renting a Two Bedroom Apartment in Downtown Chicago cost?
The monthly rent prices of Two Bedroom Apartments currently available in Downtown Chicago range from $1,200 to $19,265. Today's average rental price for Two Bedrooms here is $4,111.
How expensive are Downtown Chicago Three Bedroom Apartments?
There are currently 587 Three Bedroom Apartments listings available in Downtown Chicago on ApartmentHomeLiving.com. The pricing ranges from $1,065 to $38,481 - averaging $6,117 for the location.
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

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.

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.

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.

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.