Cheap Homes for Rent in Medical Village Neighborhood of Chicago, IL from $1,300 (53 Rentals)

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Search the lowest-cost Homes available for rent right now in the Medical Village area of Chicago.

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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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.

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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

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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 Studio unit found at Roosevelt Square priced from $1,450. Harris Point Chicago has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,650. Here are the most affordable Medical Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Roosevelt SquareStudioStudio,1BA$1,450
Harris Point Chicago1404 W Taylor St, Apt 81BR,1BA$1,650
Harris Point Chicago905 S Claremont Apt. GR1BR,1BA$1,650
Bishop Street LoftsTwo Bedroom Loft2BR,1BA$1,800

Best Value Apartments for Rent in Medical Village, IL

As of June 18, 2025 the best value apartment in the Medical Village area is the $1.82 price per square foot 1335 W Taylor St Model at 1335 W Taylor St, Unit 2 in the in the University Village neighborhood starting from $3,995. The second greatest value Medical Village apartment is the 2440 W Lexington St Model at 2440 W Lexington St, Unit 1 starting at $2,200 with a $1.38 price per square foot in the Near West Side 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.
1335 W Taylor St, Unit 21335 W Taylor St4BR,2BA$1.82
2440 W Lexington St, Unit 12440 W Lexington St4BR,2BA$1.38
1514 W 18th Pl, Unit 21514 W 18th Pl2BR,2BA$1.93
2719 W Polk St, Unit 32719 W Polk St3BR,2BA$1.77
2610 W 23rd St, Unit Basement2610 W 23rd St2BR,1BA$1.17
2742 W Polk St, Unit G2742 W Polk St2BR,1BA$1.42
2202 W Cermak Rd, Unit 2F2202 W Cermak Rd2BR,1BA$1.45
1306 S Fairfield Ave, Unit 11306 S Fairfield Ave2BR,1BA$1.60
Harris Point Chicago1404 W Taylor St, Apt 81BR,1BA$2.06
Harris Point Chicago905 S Claremont Apt. GR1BR,1BA$2.06

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Frequently Asked Questions about Medical Village

What type of rentals are currently available in Medical Village?

There are currently 494 Apartments for Rent in Medical Village, IL with pricing that ranges from $800 to $23,941. There are also 153 Single Family Homes for rent, Condos, and Townhome rentals currently available in Medical Village ranging from $1,350 to $6,400.

What is the current price range for Rental Homes in Medical Village?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Medical Village ranges from $1,350 to $6,400 with an average monthly rent of $2,716.

How much are larger Three and Four Bedroom Rentals in Medical Village?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Medical Village range from $875 to $23,941, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $6,400. Four Bedroom Single-Family rentals are also available starting from $2,495 and Four Bedroom Apartments start at $925.

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.