
Cheap Homes for Rent in the Magnificent Mile Neighborhood of Chicago, IL from $1,500 (233 Rentals) Page 5 of 5
Search the lowest-cost Homes available for rent right now in the Magnificent Mile area of Chicago.


344 E Ohio St

325 W Wolf Point Plaza

30 W Chestnut St

519 N Clark St, Unit 3c

30 E Huron St, Unit 3105

661 N Clark St, Unit 0405

342 E North Water St

169 W Elm St

330 E Wacker Dr

357 E Wacker Dr

700 N La Salle Dr

1442 N Dearborn St, Unit D31

573 N State St

447 N State St

30 E Huron St, Unit #2106

501 N Kingsbury St

345 N La Salle Dr, Unit 1107

300 N State St, Unit 2834

30 E Elm St

1246 N State Pkwy

1246 N State Pky, Unit 2

70 E Scott St

212 W Washington St, Unit 1513

59 W Hubbard St

25 E Superior St, Unit 15T

330 W Grand Ave, Unit Studio with garage parking

540 N State St, Unit 540NS

674 N Wells St, Unit 1904

112 W Hubbard St

212 W Washington St

6 N Michigan Ave

30 E Huron 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 | $4,213 | $2,400 | $10,000+ |
| Magnificent Mile 3 Bedroom Homes for Rent | $8,913 | $3,600 | $10,000+ |
| Magnificent Mile 4 Bedroom Homes for Rent | $26,750 | $10,000 | $10,000+ |
| Magnificent Mile 5 Bedroom Homes for Rent | $28,000 | $10,000 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 233 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 584 Apartments for Rent in Magnificent Mile, IL with pricing that ranges from $1,299 to $43,181. There are also 656 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnificent Mile ranging from $1,595 to $35,000.
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 $1,595 to $35,000 with an average monthly rent of $3,742.
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 $4,345 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,600 to $32,500. Four Bedroom Single-Family rentals are also available starting from $10,000 and Four Bedroom Apartments start at $9,000.
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

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago
Written by: Nicole Harms
When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible
Written by: Nicole Harms
I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA
Written by: Nicole Harms
Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.