Cheap Apartments for Rent in the Edgewater Neighborhood of Chicago, IL from $600 (222 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Edgewater area of Chicago.

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.

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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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property at 5717 N Winthrop Ave

$1,300 - $1,750

Total Monthly Price

Total Monthly Price

Base Rent
$1,300 - $1,750
Total Monthly Price
$1,300 - $1,750

Studio To 1 Bedroom Condos for Rent

Available Now

5717 N Winthrop Ave

ChicagoIL60660

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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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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property at 5510 N Sheridan Rd

$1,368 - $1,806

Total Monthly Price

Total Monthly Price

Base Rent
$1,368 - $1,806
Total Monthly Price
$1,368 - $1,806

Studio To 1 Bedroom Condos for Rent

Available Now

5510 N Sheridan Rd

ChicagoIL60640

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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Edgewater, Chicago, IL Local Guide

Cheapest Available Edgewater Apartments for Rent

 

The cheapest available apartment rental in the Edgewater area of Chicago, IL is a Studio unit found at Bryn Mawr Belle Shore priced from $986. The Bell Shore has the second lowest priced unit, which is a Studio apartment currently listed from $986. Here are the most affordable Edgewater apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Bryn Mawr Belle ShoreStudio A1Studio,1BA$986
The Bell ShoreStudio A1Studio,1BA$986
5726 N. WinthropStudioStudio,1BA$1,195
Winthrop Terrace0BR/1.0BAStudio,1BA$1,200

Best Value Apartments for Rent in Edgewater, IL

As of April 22, 2026 the best value apartment in the Edgewater area is the $1.26 price per square foot 6354 N Paulina St Model at 6354 N Paulina St, Unit GroundLevel in the in the Edgewater neighborhood starting from $2,400. The second greatest value Edgewater apartment is the 5306 N Ashland Ave Model at 5306 N Ashland Ave, Unit 3 starting at $2,175 with a $2.18 price per square foot in the Edgewater neighborhood. Here is today’s list of the best values for Edgewater apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
6354 N Paulina St, Unit GroundLevel6354 N Paulina St2BR,2BA$1.26
5306 N Ashland Ave, Unit 35306 N Ashland Ave1BR,1BA$2.18
1545 W Glenlake Ave, Unit 3A1545 W Glenlake Ave2BR,2BA$2.13
1542 W Glenlake Ave, Unit 21542 W Glenlake Ave1BR,1BA$1.94
1522 W Ardmore Ave, Unit 2E1522 W Ardmore Ave2BR,1BA$2.33
5668 N Ridge Ave, Unit ONE BEDROOM - 5662 2H5668 N Ridge Ave1BR,1BA$2.00
5666 N Ridge Ave, Unit ONE BEDROOM - 5662- 1J5666 N Ridge Ave1BR,1BA$1.87
1601 W Thome Ave1601 W Thome AveStudio ,1BA$1.96
6200 N Clark St, Unit 26-3A6200 N Clark StStudio ,1BA$2.08
5665 N Ridge Ave5665 N Ridge Ave1BR,1BA$2.25

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
Edgewater, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Edgewater Apartments

What is a cheap apartment in Edgewater?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Edgewater is under $1,200.

What is the price of a cheap apartment in Edgewater?

The cheapest apartment in Edgewater is Wyndham Apartments which is listed at $1,406, while the average apartment in Edgewater costs $4,000.

What types of apartments are the cheapest in Edgewater?

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 9 regular apartments in Edgewater 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 Edgewater?

Cheap apartments in Edgewater have an average cost of $196 which is $3,804 cheaper than the average rent for all rentals in Edgewater.

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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.