
Cheap 2 Bedroom Apartments for Rent in the Mayfair Chicago Neighborhood of Chicago, IL from $1,300 (3 Rentals)

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.

5054 N Ridgeway Ave
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.

Mayfair Commons - Senior Community
Mayfair Chicago, Chicago, IL Local Guide

How much does it cost to rent an apartment in Mayfair Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Mayfair Chicago Studio Apartments | $1,171 | $1,015 | $1,250 |
| Mayfair Chicago 1 Bedroom Apartments | $1,858 | $1,195 | $2,900 |
Mayfair Chicago 2 Bedroom Apartments | $2,085 | $1,300 | $4,650 |
| Mayfair Chicago 3 Bedroom Apartments | $2,772 | $1,850 | $4,650 |
| Mayfair Chicago 4 Bedroom Apartments | $3,395 | $3,395 | $3,395 |
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Frequently Asked Questions about Cheap Mayfair Chicago Apartments
What is the price of a cheap apartment in Mayfair Chicago?
The cheapest apartment in Mayfair Chicago is 5054 N Ridgeway Ave which is listed at $1,400, while the average apartment in Mayfair Chicago costs $3,395.
What types of apartments are the cheapest in Mayfair Chicago?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 5 regular apartments in Mayfair Chicago that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Mayfair Chicago?
Cheap apartments in Mayfair Chicago have an average cost of $479 which is $2,916 cheaper than the average rent for all rentals in Mayfair Chicago.
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

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.

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.