Cheap Homes for Rent in Chicago, IL from $400 (1,528 Rentals)

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

property at 9035 Delphia Ave

$400

Total Monthly Price

Total Monthly Price

Base Rent
$400
Total Monthly Price
$400

1 Bedroom, 1 Bath Home for Rent

Available Now

9035 Delphia Ave

Des PlainesIL60016

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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property at 4236 N Ozark Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

1 Bedroom, 0.5 Bath Home for Rent

Available Now

4236 N Ozark Ave

NorridgeIL60706
property at 4236 N Ozark Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

1 Bedroom, 0.5 Bath Home for Rent

Available Now

4236 N Ozark Ave

NorridgeIL60706

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 3601 W 79th St

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050

2 Bedroom, 1 Bath Home for Rent

Available Sep 1

3601 W 79th St

ChicagoIL60652

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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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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Showing Results 1-50, Page 1 of 31

Chicago, IL Local Guide

Cheapest Neighborhoods for Apartments in Chicago, IL

Pricing Updated: 07/21/2026

Current apartment rentals in the Chicago, IL area range in price from $200 to $48,409 with an overall median price of $4,136. The three Chicago neighborhoods with the lowest median rent pricing are Indiana Harbor at $900, Blue Island Historic District at $924, and West Calumet at $975. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Chicago Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Indiana Harbor$925$9003
Blue Island Historic District$1,166$9243
West Calumet$1,200$9754
Gage Park$1,242$6502
Morgan Park$1,295$1,2952
West Lawn$1,400$1,4001
Oakglen$1,410$1,3702
Roxana$1,444$84923
Marktown$1,495$9003
Chicago Lawn$1,499$92511

Cheapest Available Chicago Apartments for Rent

 

The cheapest available apartment rental in Chicago, IL is a 4 Beds unit found at Coleman Place At Legends South in the Armour Square neighborhood priced from $170. West Haven Park II - B in the Little Italy neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $192. Here is today’s list of the most affordable Chicago apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Coleman Place At Legends SouthThe Wells4BR,2BA$170
West Haven Park II - B3 Bedroom3BR,1BA$192
Westhaven Park II - A4 Bedroom4BR,2BA$239
Westhaven Park II - C3 Bedroom3BR,1BA$268
1155 W 83rd StStudioStudio,1BA$700
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
6246 S. King Dr.EfficienciesStudio,1BA$710
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$712
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726

Best Value Apartments for Rent in Chicago, IL

As of July 21, 2026 the best value apartment in the Chicago area is the $0.18 price per square foot 3600 W Sunnyside Ave Model at 3600 W Sunnyside Ave, Unit 2 in the in the Albany Park neighborhood starting from $1,775. The second greatest value Chicago apartment is the 1507 W Barry Ave Model at 1507 W Barry Ave, Unit # 02 starting at $2,350 with a $0.24 price per square foot in the Lakeview neighborhood. Here is today’s list of the best values for Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3600 W Sunnyside Ave, Unit 23600 W Sunnyside Ave2BR,1BA$0.18
1507 W Barry Ave, Unit # 021507 W Barry Ave1BR,1BA$0.24
1758 W Montrose Ave, Unit 1E1758 W Montrose Ave2BR,2BA$0.34
2020 N Hoyne Ave, Unit R22020 N Hoyne Ave2BR,1BA$0.35
4003 W Adams St4003 W Adams St2BR,1BA$0.56
5519 S Throop St, Unit 15519 S Throop St3BR,1BA$0.67
7809 S Marshfield Ave, Unit 7809 South Marshfield #17809 S Marshfield Ave2BR,1BA$0.56
6329 S Loomis Blvd, Unit 26329 S Loomis Blvd3BR,1BA$0.65
8452 S Burnham Ave, Unit 8452 S. Burnham8452 S Burnham Ave2BR,1BA$0.61
Westhaven Park II - A3 Bedroom3BR,1BA$0.15

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Location, Location, Location!

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Chicago, IL Area Reviews

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Nicole • 4+ years in Chicago

April 10, 2026

Big city challenges with traffic but also provides the amenities of the city you can't find elsewhere

Frequently Asked Questions about Chicago

What type of rentals are currently available in Chicago?

There are currently 24075 Apartments for Rent in Chicago, IL with pricing that ranges from $500 to $48,409. There are also 5581 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago ranging from $400 to $58,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chicago ranges from $400 to $58,000 with an average monthly rent of $4,600.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Chicago range from $883 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,110 to $40,000. Four Bedroom Single-Family rentals are also available starting from $1,160 and Four Bedroom Apartments start at $924.

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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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Written by: Nicole Harms

Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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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.

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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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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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.

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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.

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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.