Cheap Apartments for Rent in the Medical Village Neighborhood of Chicago, IL from $700 (74 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Medical Village 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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property at 1838 W 21st Pl

$1,850 - $1,925

1 Bedroom Rentals

Available Jul 1

1838 W 21st Pl

ChicagoIL60608

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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Harris Point Chicago
1 to 3 Bedroom Apartments

Harris Point Chicago

905 S Claremont AveChicago, IL 60612
Student Housing
  • Utilities Included
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1810 S Throop St
1 to 2 Bedroom Apartments

1810 S Throop St

1810 S Throop StChicago, IL 60608
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1912 S Throop St
Studio to 2 Bedroom Apartments

1912 S Throop St

1912 S Throop StChicago, IL 60608
Corporate Housing
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The Oakley
2 to 3 Bedroom Apartments

The Oakley

1007-1011 S Oakley BlvdChicago, IL 60612

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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Pilsen Apartments
1 to 3 Bedroom Apartments

Pilsen Apartments

2302 W 19th StChicago, IL 60608
  • Utilities Included
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1206-1208 W Lexington St
2 to 3 Bedroom Apartments

1206-1208 W Lexington St

1206-1208 W Lexington StChicago, IL 60607
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Harris Point Chicago
Studio to 4 Bedroom Apartments

Harris Point Chicago

1404 W Taylor StChicago, IL 60607
Student Housing
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2303 W Cullerton St
3 Bedroom Apartments

2303 W Cullerton St

2303 W Cullerton StChicago, IL 60608
Furnished
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1603 S Wood St
1 to 3 Bedroom Apartments

1603 S Wood St

1603 S Wood StChicago, IL 60608

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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Showing Results 1-50, Page 1 of 2

Medical Village, Chicago, IL Local Guide

Cheapest Available Medical Village Apartments for Rent

 

The cheapest available apartment rental in the Medical Village area of Chicago, IL is a 1 Bed unit found at 1840-1850 S Fairfield Ave priced from $1,300. 1249 S Fairfield Ave Chicago, IL 60608 has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,360. Here are the most affordable Medical Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1840-1850 S Fairfield Ave1 Beds, 1 Baths1BR,1BA$1,300
1249 S Fairfield Ave Chicago, IL 606082 Bedroom 1 Bath Apartment2BR,1BA$1,360
The RosieA4Studio,1BA$1,829
Harris Point Chicago909 S Laflin St. Apt 12BR,1BA$1,900
Bishop Street LoftsOne Bedroom1BR,1BA$2,195

Best Value Apartments for Rent in Medical Village, IL

As of May 19, 2026 the best value apartment in the Medical Village area is the $1.40 price per square foot 2153 W 18th St Model at 2153 W 18th St, Unit 2153 W 18TH ST in the in the Lower West Side neighborhood starting from $2,800. The second greatest value Medical Village apartment is the 1822 S Throop St Model at 1822 S Throop St, Unit 2F starting at $2,445 with a $1.36 price per square foot in the University Village neighborhood. Here is today’s list of the best values for Medical Village apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2153 W 18th St, Unit 2153 W 18TH ST2153 W 18th St5BR,1BA$1.40
1822 S Throop St, Unit 2F1822 S Throop St3BR,2BA$1.36
917 S Loomis St, Unit 1917 S Loomis St5BR,2BA$1.94
2445 W Harrison St, Unit 32445 W Harrison St4BR,2BA$1.88
2004 W 23rd St, Unit 12004 W 23rd St2BR,2BA$1.92
619 S Loomis St, Unit First Floor619 S Loomis St2BR,1BA$1.96
1943 W 21st Pl, Unit 1R1943 W 21st Pl2BR,1BA$1.75
2136 West Jackson Boulevard, Unit #12136 West Jackson Boulevard1BR,1BA$1.89
1249 S Fairfield Ave Chicago, IL 606082 Bedroom 1 Bath Apartment2BR,1BA$1.86
1840-1850 S Fairfield Ave1 Beds, 1 Baths1BR,1BA$1.91

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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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
Medical Village, Chicago, IL

Ranked #49

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
Medical Village, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Medical Village Apartments

What is the price of a cheap apartment in Medical Village?

The cheapest apartment in Medical Village is 1840-1850 S Fairfield Ave which is listed at $1,300, while the average apartment in Medical Village costs $10,709.

What types of apartments are the cheapest in Medical Village?

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 12 regular apartments in Medical Village that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.