Cheap Apartments for Rent in the Hyde Park Neighborhood of Chicago, IL from $500 (127 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
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property at 1367 E 53rd St

$1,340

Total Monthly Price

Total Monthly Price

Base Rent
$1,340
Total Monthly Price
$1,340

Studio, 1 Bath Condo for Rent

Available Now

1367 E 53rd St, Unit 3

1367 E 53rd St
ChicagoIL60615

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property at 836 E 53rd St

$1,700 - $2,500

1 To 3 Bedroom Rentals

Available Now

836 E 53rd St

ChicagoIL60615

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

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property at 838 E 53rd St

$1,900 - $1,950

2 Bedroom Rentals

Available Now

838 E 53rd St

ChicagoIL60615
property at 1401 E 55th St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

2 Bedroom, 1 Bath Condo for Rent

Available Aug 1

1401 E 55th St, Unit 907N

1401 E 55th St
ChicagoIL60615
property at 1450 E 55th Pl

$1,980

Total Monthly Price

Total Monthly Price

Base Rent
$1,980
Total Monthly Price
$1,980

2 Bedroom, 1 Bath Condo for Rent

Available Now

1450 E 55th Pl, Unit 927S

1450 E 55th Pl
ChicagoIL60637
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5487 S Drexel Ave, Unit 1
$2,000
Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000
2 Bedroom Apartment Available Aug 1

5487 S Drexel Ave, Unit 1

5487 S Drexel AveChicago, IL 60615
Affordability

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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 $712. 5748 Blackstone By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $726. Here are the most affordable Hyde Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$712
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726
5540 Hyde Park by 3L LivingEfficiency Studio - WestStudio,1BA$786
824 E 53rd StLarge StudioStudio,1BA$850
5401 Cornell by 3L LivingRenovated StudioStudio,1BA$969
The Versailles ApartmentsStudio Floor Plan S7AStudio,1BA$1,039
5528-5532 S. Everett Avenue5528e0baStudio,1BA$1,095
Museum Walk ApartmentsStudio Floor Plan S1Studio,1BA$1,120
5457-5459 S. Blackstone Avenue54570baStudio,1BA$1,125

Best Value Apartments for Rent in Hyde Park, IL

As of July 26, 2026 the best value apartment in the Hyde Park area is the $1.20 price per square foot 5211 S Greenwood Ave Model at 5211 S Greenwood Ave in the in the Hyde Park neighborhood starting from $3,850. The second greatest value Hyde Park apartment is the 5700-4bA Model at 5700 S. Blackstone Avenue starting at $4,450 with a $1.90 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$1.20
5700 S. Blackstone Avenue5700-4bA4BR,2BA$1.90
5313 South Maryland Avenue, Unit Apt 45313 South Maryland Avenue4BR,2BA$1.79
5222-38 S. Drexel Avenue5222-3bC3BR,1BA$1.94
Woodlawn Commons2BR/1BA2BR,1BA$1.63
5202-5210 S. Cornell Avenue5202-2G2BR,1BA$1.85
824 E 53rd St1 Bed1BR,1BA$1.19
The Flamingo Apartments2 Bedroom Floor Plan B12BR,1BA$2.00
5049 S. Drexel Boulevard5049-1bc1BR,1BA$1.99
5020 S Woodlawn Ave1 Bedroom1BR,1BA$1.73

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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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 $1,125.

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 $3,398.

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 17 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 $267 which is $3,131 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.

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