Cheap Homes for Rent in Chicago, IL from $600 (1,682 Rentals)

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Chicago, IL Local Guide

Cheapest Neighborhoods for Apartments in Chicago, IL

Pricing Updated: 09/13/2025

Current apartment rentals in the Chicago, IL area range in price from $575 to $77,776 with an overall median price of $6,179. The three Chicago neighborhoods with the lowest median rent pricing are Indiana Harbor at $1,100, Marktown at $850, and Brinkmans at $830. 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$1,150$1,1002
Marktown$1,150$8504
Brinkmans$1,159$83025
Downtown Michigan City$1,159$83026
Edgewood$1,159$83025
Trail Creek$1,159$83026
Village Green$1,159$83025
Little Palestine$1,195$1,1951
Gage Park$1,250$1,2002
Pullman$1,300$9007

Cheapest Available Chicago Apartments for Rent

 

The cheapest available apartment rental in Chicago, IL is a Studio unit found at 5445 Ingleside By 3L Living in the Hyde Park neighborhood priced from $600. 1155 W 83rd St in the Auburn Gresham neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Chicago apartments for rent:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$600
1155 W 83rd StStudioStudio,1BA$650
6246 S. King Dr.EfficienciesStudio,1BA$675
7706 South ColesStudio ApartmentStudio,1BA$695
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$699
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
8100 S Drexel AveStudio ApartmentStudio,1BA$705
5748 Blackstone By 3L LivingShared Kitchenette & BathroomStudio,1BA$724
1931 E 71st StStudio ApartmentStudio,1BA$730
808 W 76th StStudio ApartmentStudio,1BA$745

Best Value Apartments for Rent in Chicago, IL

As of September 13, 2025 the best value apartment in the Chicago area is the $0.16 price per square foot 2122 W Ainslie St Model at 2122 W Ainslie St, Unit 2 in the in the Ravenswood neighborhood starting from $1,595. The second greatest value Chicago apartment is the Manhattan Style Loft Model at 10k sqft LiveWork Space w Green/White Screen starting at $788 with a $0.08 price per square foot in the East Garfield Park 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.
2122 W Ainslie St, Unit 22122 W Ainslie StStudio ,1BA$0.16
10k sqft LiveWork Space w Green/White ScreenManhattan Style Loft3BR,2BA$0.08
3905 W Schubert Ave, Unit # 013905 W Schubert Ave3BR,1BA$0.22
3407 W Fullerton Ave, Unit # 03D3407 W Fullerton Ave1BR,1BA$0.20
5937 N Paulina St, Unit # 03W5937 N Paulina St2BR,1BA$0.21
624 S Oakley Blvd, Unit # 02624 S Oakley Blvd3BR,2BA$0.25
2524 N Kedzie Blvd, Unit # 03E2524 N Kedzie Blvd1BR,1BA$0.21
2516 N Lincoln Ave, Unit # 032516 N Lincoln Ave1BR,1BA$0.18
2519 W North Ave, Unit # 03F2519 W North Ave1BR,1BA$0.21
11250 S Fairfield Ave, Unit 211250 S Fairfield Ave2BR,1BA$0.23

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Frequently Asked Questions about Chicago

What type of rentals are currently available in Chicago?

There are currently 24851 Apartments for Rent in Chicago, IL with pricing that ranges from $575 to $77,776. There are also 6352 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago ranging from $650 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 $650 to $58,000 with an average monthly rent of $4,045.

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 $788 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $675 to $40,000. Four Bedroom Single-Family rentals are also available starting from $810 and Four Bedroom Apartments start at $650.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.