Cheap Apartments for Rent in the Lakeview Neighborhood of Chicago, IL from $500 (278 Rentals)

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

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3510 N. Pine Grove
$1,215 - $2,800
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$1,215 - $2,800
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Studio to 2 Bedroom Apartments Available Sep 1

3510 N. Pine Grove

3510 N Pine Grove AveChicago, IL 60657
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544 W. Melrose
$1,260 - $2,103
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$1,260 - $2,103
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Studio to 1 Bedroom Apartments Available Aug 1

544 W. Melrose

544 W Melrose StChicago, IL 60657
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632 W. Addison
$1,274 - $2,902
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$1,274 - $2,902
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Studio to 2 Bedroom Apartments Available Aug 1

632 W. Addison

632-644 W Addison StChicago, IL 60613
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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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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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1049 W. Oakdale
$1,354 - $2,070
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$1,354 - $2,070
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Studio to 1 Bedroom Apartments Available Oct 1

1049 W. Oakdale

1049 W Oakdale AveChicago, IL 60657
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515 W. Briar
$1,387 - $2,249
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$1,387 - $2,249
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Studio to 1 Bedroom Apartments Contact Us For Availability

515 W. Briar

515 W Briar PlChicago, IL 60657
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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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441 W. Barry
$1,412 - $2,873
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$1,412 - $2,873
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Studio to 2 Bedroom Apartments Available Sep 1

441 W. Barry

441 W Barry AveChicago, IL 60657
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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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515 W Belmont Ave
$1,425 - $1,975
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$1,425 - $1,975
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$1,425 - $1,975
Studio to 1 Bedroom Apartment Available Now

515 W Belmont Ave

515 W Belmont AveChicago, IL 60657
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430-446 W. Diversey
$1,445 - $3,284
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$1,445 - $3,284
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Studio to 2 Bedroom Apartments Available Sep 1

430-446 W. Diversey

430-446 W Diversey PkyChicago, IL 60614
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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.

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Lakeview, Chicago, IL Local Guide

Cheapest Available Lakeview Apartments for Rent

 

The cheapest available apartment rental in the Lakeview area of Chicago, IL is a Studio unit found at 424 W. Diversey priced from $1,125. 3838 N. Broadway has the second lowest priced unit, which is a Studio apartment currently listed from $1,215. Here are the most affordable Lakeview apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
424 W. DiverseyStudioStudio,1BA$1,125
3838 N. BroadwayStudioStudio,1BA$1,215
Parkway ApartmentsStudio - Tier 9Studio,1BA$1,279
534 W. Wellington AveStudioStudio,1BA$1,300

Best Value Apartments for Rent in Lakeview, IL

As of July 05, 2026 the best value apartment in the Lakeview area is the $0.24 price per square foot 1507 W Barry Ave Model at 1507 W Barry Ave, Unit # 02 in the in the Lakeview neighborhood starting from $2,350. The second greatest value Lakeview 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 apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1507 W Barry Ave, Unit # 021507 W Barry Ave1BR,1BA$0.24
1142 W Wolfram St, Unit 21142 W Wolfram St4BR,2BA$1.88
3730 N Magnolia Ave, Unit 33730 N Magnolia Ave3BR,1BA$1.72
3704 N Magnolia Ave3704 N Magnolia Ave3BR,1BA$1.82
4318 N Sheridan Rd, Unit 24318 N Sheridan Rd2BR,2BA$1.75
3710 N Clark St, Unit 3712 2ndfloor3710 N Clark St2BR,2BA$2.14
1122 W Addison St, Unit G1122 W Addison St1BR,1BA$2.00
433 W Roscoe St, Unit 406433 W Roscoe St1BR,1BA$2.10
655 W Irving Park Rd, Unit 2308655 W Irving Park Rd1BR,1BA$2.19
618 W Patterson, Unit 508618 W PattersonStudio ,1BA$2.04

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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Pet Friendly Lifestyle
Lakeview, Chicago, IL

Ranked #4

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Lakeview, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Illinois, 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 filtering automatically for outdoor amenities like tennis courts, luxury housing options, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Lakeview Apartments

What is the Cheapest Studio apartment in Lakeview?

Currently the most affordable Cheap Studio Apartment in Lakeview is at 424 W. Diversey listed at $1,125.

How much is rent for a Cheap One Bedroom Lakeview Apartment?

The lowest price for a Cheap One Bedroom Lakeview Apartment is $1,331 at Parkway Apartments.

What is the lowest price for a Cheap Two Bedroom Lakeview Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lakeview is starting from $1,950 at Buena Shores.

What is the most affordable Lakeview Three Bedroom Apartment?

The best deal on a cheap Lakeview Three Bedroom Apartment rental is at 732 W Grace St and starts from $3,000.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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

Written by: Christine Leonard, Esq.

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.