Cheap Apartments for Rent in the Lakeview East Neighborhood of Chicago, IL from $800 (393 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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739 W Belmont Ave
$1,295 - $1,375
Total Monthly Price

Total Monthly Price

Base Rent
$1,295 - $1,375
Total Monthly Price
$1,295 - $1,375
Studio Apartment Available Now

739 W Belmont Ave

739 W Belmont AveChicago, IL 60657
Affordability

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

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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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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515 W Belmont Ave
$1,395 - $1,995
Total Monthly Price

Total Monthly Price

Base Rent
$1,395 - $1,995
Total Monthly Price
$1,395 - $1,995
Studio to 1 Bedroom Apartment Available Now

515 W Belmont Ave

515 W Belmont AveChicago, IL 60657
Affordability

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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Lakeview East, Chicago, IL Local Guide

Cheapest Available Lakeview East Apartments for Rent

 

The cheapest available apartment rental in the Lakeview East area of Chicago, IL is a Studio unit found at 424 W. Diversey priced from $1,095. 596 W. Hawthorne has the second lowest priced unit, which is a Studio apartment currently listed from $1,142. Here are the most affordable Lakeview East apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
424 W. DiverseyStudioStudio,1BA$1,095
596 W. HawthorneSTUD/1BAStudio,1BA$1,142
721 W. BelmontStudioStudio,1BA$1,145
Parkway ApartmentsStudio - Tier 2Studio,1BA$1,210
3510 N. Pine GroveSTUD/1BAStudio,1BA$1,210
450 W. MelroseSTUD/1BAStudio,1BA$1,239

Best Value Apartments for Rent in Lakeview East, IL

As of April 23, 2026 the best value apartment in the Lakeview East area is the $1.83 price per square foot 1225 W Roscoe St Model at 1225 W Roscoe St, Unit 1 in the in the Lakeview neighborhood starting from $4,400. The second greatest value Lakeview East apartment is the 1142 W Wolfram St Model at 1142 W Wolfram St, Unit 2 starting at $4,500 with a $1.88 price per square foot in the Lakeview neighborhood. Here is today’s list of the best values for Lakeview East apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1225 W Roscoe St, Unit 11225 W Roscoe St3BR,3BA$1.83
1142 W Wolfram St, Unit 21142 W Wolfram St4BR,2BA$1.88
3260-70 N Lake Shore DriveC13BR,3BA$2.22
2326 N Southport Ave2326 N Southport Ave2BR,1BA$1.86
456 W Barry Ave, Unit A03C456 W Barry Ave1BR,1BA$2.26
430-446 W. Diversey1-BR/1BA1BR,1BA$2.18
634 W. Cornelia1-BR/1BA1BR,1BA$2.09
561 W Cornelia Ave, Unit #293561 W Cornelia Ave1BR,1BA$2.30
618 W Patterson, Unit 508618 W PattersonStudio ,1BA$2.04
2961 N Halsted St, Unit A07C2961 N Halsted St1BR,1BA$2.31

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in areas across the United States, including Chicago. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and outdoor amenities like tennis courts, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Lakeview East Apartments

What is a cheap apartment in Lakeview East?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lakeview East is under $1,239.

What is the price of a cheap apartment in Lakeview East?

The cheapest apartment in Lakeview East is Parkway Apartments which is listed at $1,331, while the average apartment in Lakeview East costs $5,900.

What types of apartments are the cheapest in Lakeview East?

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 13 regular apartments in Lakeview East 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 Lakeview East?

Cheap apartments in Lakeview East have an average cost of $124 which is $5,776 cheaper than the average rent for all rentals in Lakeview East.

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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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.

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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.

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.