Cheap Apartments for Rent in the Hyde Park Neighborhood of Chicago, IL from $570 (113 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

Read Article

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.

Read Article

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!

Read Article
property at 1400 E 55th Pl
$1,700

Total Monthly Price

Base Rent$1,700
Total Monthly Price$1,700
Studio, 1 Bath Condo for Rent
Available Sep 27
Furnished

1400 E 55th Pl, Unit 411S

1400 E 55th Pl
ChicagoIL60637
  • Smoke Free
close
View Me
5487 S Drexel Ave, Unit 1
$1,750

Total Monthly Price

Base Rent$1,750
Total Monthly Price$1,750
2 Bedroom Apartment Available Now

5487 S Drexel Ave, Unit 1

5487 S Drexel AveChicago, IL 60615
Affordability
property at 5457 S Ingleside Ave
$2,000

Total Monthly Price

Base Rent$2,000
Total Monthly Price$2,000
2 Bedroom, 1 Bath Condo for Rent
Available Now
Affordability

5457 S Ingleside Ave, Unit 1E

5457 S Ingleside Ave
ChicagoIL60615
close
View Me
5401 S Ellis Ave
Studio to 3 Bedroom Apartments

5401 S Ellis Ave

5401 S Ellis AveChicago, IL 60615
  • Utilities Included
close
View Me
Ohio Commons
1 to 4 Bedroom Apartments

Ohio Commons

5001 S Drexel BlvdChicago, IL 60615
  • Utilities Included

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.

Read Article
close
View Me
The Carolan Apartments
Studio to 1 Bedroom Apartments

The Carolan Apartments

5480 S Cornell AveChicago, IL 60615
  • Utilities Included
close
View Me
Cornell Arms Apartments
Studio to 1 Bedroom Apartments

Cornell Arms Apartments

5212-5220 S Cornell AveChicago, IL 60615
  • Utilities Included
close
View Me
Ivy Tower
Studio to 1 Bedroom Apartments

Ivy Tower

5455 S Blackstone AveChicago, IL 60615
Student Housing
  • Utilities Included
close
View Me
The Max Apartments
Studio to 1 Bedroom Apartments

The Max Apartments

5135 S Blackstone AveChicago, IL 60615
  • Utilities Included
close
View Me
The Columbian
Studio to 1 Bedroom Apartments

The Columbian

5220-5224 S Harper AveChicago, IL 60615
  • Utilities Included
close
View Me
Ivy Dorchester
Studio to 2 Bedroom Apartments

Ivy Dorchester

5118 S Dorchester AveChicago, IL 60615
close
View Me
Ivy Dickens
Studio to 1 Bedroom Apartments

Ivy Dickens

5330 S Blackstone AveChicago, IL 60615
close
View Me
The Ella Apartments
Studio Apartments

The Ella Apartments

5111 S University AveChicago, IL 60615
  • Utilities Included
close
View Me
Ivy Villas
Studio to 2 Bedroom Apartments

Ivy Villas

5514 S Blackstone AveChicago, IL 60637

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.

Read Article
Showing Results 1-50, Page 1 of 3

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$999
Cornell (The Greenstone)Small StudioStudio,1BA$1,095
2Sisters ApartmentsStudio Floor Plan S3Studio,1BA$1,118
5528-5532 S. Everett Avenue5528e0baStudio,1BA$1,195
5336-5338 S. Hyde Park Boulevard5336-0bbStudio,1BA$1,235
Drexel Granddga-0baStudio,1BA$1,245

Best Value Apartments for Rent in Hyde Park, IL

As of September 10, 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
5111 S. Kimbark Avenue5111k4ba4BR,2BA$1.89
5053 S. Ellis Avenue5053-3bC3BR,2BA$1.70
5325 S. Hyde Park Boulevard5325-2bb2BR,2BA$1.70
Harper Courthrpc-2bc2BR,2BA$1.97
5222-38 S. Drexel Avenue5222-3bC3BR,1BA$1.93
5129 S Ingleside Ave, Unit 1 Front5129 S Ingleside Ave2BR,1BA$1.64
824 E 53rd St1 Bed1BR,1BA$1.19

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.

Read Article
Decorative image

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

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

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

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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 $1,245.

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 $2,050.

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 18 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 $284 which is $1,766 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

decorative image for The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago article

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

decorative image for Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible article

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.

decorative image for Chicago Relocation 101: Mastering Utilities, Registration, and the CTA article

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.

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

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.