Cheap Homes for Rent in Magnificent Mile Neighborhood of Chicago, IL from $1,300 (261 Rentals) Page 2 of 6
Search the lowest-cost Homes available for rent right now in the Magnificent Mile area of Chicago.

45 W Chicago Ave

746 N Dearborn St

1339 N Dearborn St

1235 N La Salle Dr, Unit 2B

1000 N La Salle Dr
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

1215 N Clark St

535 N Michigan Ave, Unit 2507

210 E Chestnut St

339 W Chestnut St

231 E Chestnut St

833 N Dearborn St

1344 N Dearborn St

1349 N Dearborn St
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.

1340 N Dearborn St, Unit 6E

1435 N Dearborn St

1435 N Dearborn St, Unit 4B

1440 N Dearborn

1340 N Dearborn St, Unit 08B

111 E Chestnut St, Unit 23b

42 E Superior St, Unit 9F

755 N Wells St, Unit 2

1313 W Randolph St
Chicago's Best Affordable Neighborhoods
Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

158 W Superior St

454 E Ohio St

480 N McClurg Ct

168 W Randolph St

454 E Ohio St

439 E Ohio St

140 W Superior St

400 E Randolph St, Unit 2521

702 N Wells St, Unit 2607

1133 N Dearborn St

1225 N LaSalle St

11 E Chestnut St

343 W Chestnut St

456 E Ohio St
Magnificent Mile, Chicago, IL Local Guide

How much does it cost to rent a home in Magnificent Mile?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Magnificent Mile 2 Bedroom Homes for Rent | $3,954 | $2,400 | $10,000+ |
| Magnificent Mile 3 Bedroom Homes for Rent | $6,342 | $3,995 | $10,000+ |
| Magnificent Mile 4 Bedroom Homes for Rent | $13,899 | $5,595 | $10,000+ |
| Magnificent Mile 5 Bedroom Homes for Rent | $14,797 | $5,595 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 261 rentals with your search options within a 1 mile radius of the Magnificent Mile Neighborhood of Chicago, IL.
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Frequently Asked Questions about Magnificent Mile
What type of rentals are currently available in Magnificent Mile?
There are currently 644 Apartments for Rent in Magnificent Mile, IL with pricing that ranges from $1,105 to $77,776. There are also 758 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnificent Mile ranging from $1,395 to $24,000.
What is the current price range for Rental Homes in Magnificent Mile?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Magnificent Mile ranges from $1,395 to $24,000 with an average monthly rent of $7,234.
How much are larger Three and Four Bedroom Rentals in Magnificent Mile?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Magnificent Mile range from $2,220 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,995 to $16,000. Four Bedroom Single-Family rentals are also available starting from $5,595 and Four Bedroom Apartments start at $10,000.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

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.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.












