Cheap Apartments for Rent in the Hyde Park Neighborhood of Chicago, IL from $500 (134 Rentals)

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

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1415 E 52nd St
$700 - $2,880
Total Monthly Price

Total Monthly Price

Base Rent
$700 - $2,880
Total Monthly Price
$700 - $2,880
1 to 4 Bedroom Apartment Available Now

1415 E 52nd St

1415 E 52nd StChicago, IL 60615
Furnished
  • Smoke Free

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

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5412 S Drexel Ave, Unit G
$1,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600
2 Bedroom Apartment Available Jul 1

5412 S Drexel Ave, Unit G

5412 S Drexel AveChicago, IL 60615
Cost Per Sq.Ft.
  • Smoke Free
property at 1509 E 54th St

$1,600 - $1,800

1 To 2 Bedroom Rentals

Available Now

1509 E 54th St

ChicagoIL60615

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property at 1450 E 55th Pl

$1,750

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Condo for Rent

Available Now

1450 E 55th Pl, Unit 525s

1450 E 55th Pl
ChicagoIL60637
property at 5300 S Shore Dr

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900
Total Monthly Price
$1,900

2 Bedroom, 1 Bath Condo for Rent

Available Now

5300 S Shore Dr, Unit 44B

5300 S Shore Dr
ChicagoIL60615
property at 1400 E 55th Pl

$1,925

Total Monthly Price

Total Monthly Price

Base Rent
$1,925
Total Monthly Price
$1,925

2 Bedroom, 1 Bath Condo for Rent

Available Jun 20

1400 E 55th Pl, Unit 403S

1400 E 55th Pl
ChicagoIL60637

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Hyde Park, Chicago, IL Local Guide

Cheapest Available Hyde Park Apartments for Rent

 

The cheapest available apartment rental in the Hyde Park area of Chicago, IL is a Studio unit found at 5445 Ingleside By 3L Living priced from $684. 5540 Hyde Park by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $724. Here are the most affordable Hyde Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingCo-Living Single RoomStudio,1BA$684
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726
824 E 53rd StLarge StudioStudio,1BA$850
5401 Cornell by 3L LivingStudioStudio,1BA$965
2Sisters ApartmentsStudio Floor Plan S1Studio,1BA$1,112
The Versailles ApartmentsStudio Floor Plan S1Studio,1BA$1,112
Cornell (The Greenstone)Small StudioStudio,1BA$1,150
5500 S. Cornell Avenue5500-0b1gStudio,1BA$1,155

Best Value Apartments for Rent in Hyde Park, IL

As of June 10, 2026 the best value apartment in the Hyde Park area is the $1.09 price per square foot 5211 S Greenwood Ave Model at 5211 S Greenwood Ave in the in the Hyde Park neighborhood starting from $3,500. The second greatest value Hyde Park apartment is the 5313 South Maryland Avenue Model at 5313 South Maryland Avenue, Unit Apt 4 starting at $3,396 with a $1.79 price per square foot in the Hyde Park neighborhood. Here is today’s list of the best values for Hyde Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5211 S Greenwood Ave5211 S Greenwood Ave4BR,2BA$1.09
5313 South Maryland Avenue, Unit Apt 45313 South Maryland Avenue4BR,2BA$1.79
5111 S. Kimbark Avenue5111k4ba4BR,2BA$1.89
1101 E. Hyde Park Boulevard1101-2bB2BR,1BA$1.65
Cornell Terracecrter3ba3BR,2BA$1.98
5222-38 S. Drexel Avenue5222-3bA3BR,1BA$1.99
Woodlawn Commons2BR/1BA2BR,1BA$1.63
5300-5308 S. Hyde Park Boulevard5300h2be2BR,1BA$2.02
824 E 53rd St1 Bed1BR,1BA$1.19
5020 S Woodlawn Ave1 Bedroom1BR,1BA$1.73

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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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in metropolitan areas across the United States, including Chicago. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, features that make it easier to raise kids, raising pets, transit options, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Hyde Park Apartments

What is a cheap apartment in Hyde Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Hyde Park is under $1,155.

What is the price of a cheap apartment in Hyde Park?

The cheapest apartment in Hyde Park is 824 E 53rd St which is listed at $950, while the average apartment in Hyde Park costs $4,150.

What types of apartments are the cheapest in Hyde Park?

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 12 regular apartments in Hyde Park 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 Hyde Park?

Cheap apartments in Hyde Park have an average cost of $212 which is $3,938 cheaper than the average rent for all rentals in Hyde Park.

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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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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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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Pet-Friendly Renting: Everything You Need to Know Before You Move

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For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.