Cheap Apartments for Rent in the Near North Side Neighborhood of Chicago, IL from $1,000 (42 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Near North Side area of Chicago.

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Stanford Apartments
Studio to 1 Bedroom Apartments

Stanford Apartments

1164 N DearbornChicago, IL 60610
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10 West Elm
Studio Apartments

10 West Elm

10 W Elm StChicago, IL 60610
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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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Atrium at Old Town Park
Studio to 1 Bedroom Apartments

Atrium at Old Town Park

303 W Division StChicago, IL 60610
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204 W Hill St
Studio to 3 Bedroom Apartments

204 W Hill St

204 W Hill StChicago, IL 60610
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1100 N Dearborn
Studio to 1 Bedroom Apartments

1100 N Dearborn

1100 N Dearborn StChicago, IL 60610
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Two East Oak
1 Bedroom Apartments

Two East Oak

2 E Oak StChicago, IL 60611
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Morningside South
1 Bedroom Apartments

Morningside South

171 W Oak StChicago, IL 60610
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Showing Results 1-42, Page 1 of 1

Near North Side, Chicago, IL Local Guide

Cheapest Available Near North Side Apartments for Rent

 

The cheapest available apartment rental in the Near North Side area of Chicago, IL is a 1 Bed unit found at Maple priced from $1,230. Elm 551 at Parkside has the second lowest priced unit, which is a Studio apartment currently listed from $1,313. Here are the most affordable Near North Side apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Maple1 Bedroom 1 Bathroom1BR,1BA$1,230
Elm 551 at ParksideStudioStudio,1BA$1,313
11 W. DivisionStudioStudio,1BA$1,345
1100 North LasalleStudioStudio,1BA$1,390
1036 N. DearbornStudioStudio,1BA$1,425
Dearborn NorthFurnished Available soonStudio,1BA$1,600

Best Value Apartments for Rent in Near North Side, IL

As of August 09, 2025 the best value apartment in the Near North Side area is the $2.59 price per square foot 1332 N Cleveland Ave Model at 1332 N Cleveland Ave, Unit 1 in the in the Near North Side neighborhood starting from $4,400. The second greatest value Near North Side apartment is the 864 N State St Model at 864 N State St, Unit 2 starting at $4,250 with a $2.66 price per square foot in the Magnificent Mile neighborhood. Here is today’s list of the best values for Near North Side apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1332 N Cleveland Ave, Unit 11332 N Cleveland Ave3BR,3BA$2.59
864 N State St, Unit 2864 N State St1BR,1.5BA$2.66
1221 N. LaSalle LoftsStoreFrontStudio ,2BA$2.00
Lakeside 800Two Bedroom2BR,1BA$2.42
206 W Division St, Unit 2F206 W Division St1BR,1BA$2.63
Canterbury Court ApartmentsOne-Bedroom1BR,1BA$3.23
Elm 551 at ParksideOne Bedroom1BR,1BA$2.67
Atrium at Old Town ParkConvertible 1 Bedroom1BR,1BA$2.80
Maple1 Bedroom 1 Bathroom1BR,1BA$2.28
Dearborn NorthFurnished Available soonStudio ,1BA$3.23

Quick Rent Budget Calculator

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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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States and customized analysis for Central Chicago, IL. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, family-friendly amenities, raising pets, transit options, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Near North Side Neighborhood in Chicago, IL

Walk Score®

98 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

85 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

85 / 100

Excellent Transit

Transit is convenient for most trips

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Near North Side Apartments

What is a cheap apartment in Near North Side?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near North Side is under $1,600.

What is the price of a cheap apartment in Near North Side?

The cheapest apartment in Near North Side is Maple which is listed at $1,230, while the average apartment in Near North Side costs $16,519.

What types of apartments are the cheapest in Near North Side?

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 15 regular apartments in Near North Side 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 Near North Side?

Cheap apartments in Near North Side have an average cost of $106 which is $16,413 cheaper than the average rent for all rentals in Near North Side.

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.