
Cheap Homes for Rent in Magnificent Mile Neighborhood of Chicago, IL from $1,300 (226 Rentals) Page 2 of 5
Search the lowest-cost Homes available for rent right now in the Magnificent Mile area of Chicago.


330 W Grand Ave, Unit 1505

1339 N Dearborn St

405 N Wabash Ave

4 E Chestnut St

500 N Lake Shore Dr

300 N State St, Unit 5001

400 N La Salle Dr

833 N Dearborn St

1122 N Dearborn St
Navigating the Rental Market: Tips for First-Time Renters
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21 W Goethe St

1455 N Sandburg Terrace

31 E Chestnut St

1130 N Dearborn St

401 E Ontario St

10 E Ontario St

200 E Chestnut St

456 E Ohio St

1235 N La Salle Dr

1220 N La Salle Dr
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

233 E Erie St, Unit 233 E Erie Unit 1408

233 E Erie St

111 E Chestnut St

200 N Dearborn St

45 W Chicago Ave

1313 W Randolph St

469 E Ohio St

758 N Dearborn St

200 N Dearborn St

300 N State St, Unit 2303

400 E Randolph St

1355 N Sandburg Ter, Unit 303D

233 E Erie St

1355 N Sandburg Terrace

1355 N Sandburg Ter, Unit #303D

1000 N State St, Unit 48G

230 E Ontario St, Unit 2003

1355 N Sandburg Ter, Unit # 0303D

233 E Erie St, Unit 1307

200 W Superior St, Unit 2706B

216 N Wells St, Unit 1402

211 W Scott St

3555 S King Dr, Unit 1N

535 N Michigan Ave, Unit 2507

130 N Garland Ct

1030 N State St

1140 N La Salle Dr

212e E Chestnut St

1140 N La Salle Dr

1140 N La Salle Dr
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 | $4,192 | $2,000 | $10,000+ |
| Magnificent Mile 3 Bedroom Homes for Rent | $8,259 | $3,900 | $10,000+ |
| Magnificent Mile 4 Bedroom Homes for Rent | $21,557 | $10,000 | $10,000+ |
| Magnificent Mile 5 Bedroom Homes for Rent | $20,000 | $10,000 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 226 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 613 Apartments for Rent in Magnificent Mile, IL with pricing that ranges from $1,105 to $77,776. There are also 707 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnificent Mile ranging from $1,375 to $40,000.
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 $1,375 to $40,000 with an average monthly rent of $9,769.
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 $2,995 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,900 to $32,000. Four Bedroom Single-Family rentals are also available starting from $10,000 and Four Bedroom Apartments start at $10,000.
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

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.

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.

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.

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

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.

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.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.