Cheap Apartments for Rent in the Lakeview Neighborhood of Chicago, IL from $500 (266 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lakeview 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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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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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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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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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!

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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 721 W. Belmont priced from $1,125. 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 apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
721 W. BelmontStudioStudio,1BA$1,125
596 W. HawthorneSTUD/1BAStudio,1BA$1,142
424 W. DiverseyStudioStudio,1BA$1,145
Parkway ApartmentsStudio - Tier 9Studio,1BA$1,210
3510 N. Pine GroveSTUD/1BAStudio,1BA$1,210
Annabelle LLCStudio in East LakeviewStudio,1BA$1,250
3838 N. BroadwayStudioStudio,1BA$1,265
2738 N. Pine Grove0BR/1.0BAStudio,1BA$1,265
536 W. AddisonSTUD/1BAStudio,1BA$1,268

Best Value Apartments for Rent in Lakeview, IL

As of May 18, 2026 the best value apartment in the Lakeview area is the $1.88 price per square foot 1142 W Wolfram St Model at 1142 W Wolfram St, Unit 2 in the in the Lakeview neighborhood starting from $4,500. The second greatest value Lakeview apartment is the 3637 N Paulina St Model at 3637 N Paulina St, Unit 1A starting at $3,950 with a $2.02 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.
1142 W Wolfram St, Unit 21142 W Wolfram St4BR,2BA$1.88
3637 N Paulina St, Unit 1A3637 N Paulina St3BR,2BA$2.02
4318 N Sheridan Rd, Unit 24318 N Sheridan Rd2BR,2BA$1.75
3619 N Pine Grove Ave, Unit 2W3619 N Pine Grove Ave2BR,1BA$1.87
652 W Gordon Ter, Unit 1E652 W Gordon Ter2BR,2BA$2.20
900 W Montrose Ave4410 Hazel 2 bed Grdn2BR,1BA$1.76
1110 W Wolfram St, Unit G1110 W Wolfram St2BR,1BA$2.35
1448 W Fletcher St1448 W Fletcher St2BR,1BA$2.31
828 W Dakin St, Unit g828 W Dakin St2BR,1BA$2.18
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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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.

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Pet Friendly Lifestyle
Lakeview, Chicago, IL

Ranked #5

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 721 W. Belmont 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 $2,200 at 900 W Montrose Ave.

What is the most affordable Lakeview Three Bedroom Apartment?

The best deal on a cheap Lakeview Three Bedroom Apartment rental is at 2850 N. Sheridan and starts from $3,095.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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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.