Cheap Apartments for Rent in the Near North Side Neighborhood of Chicago, IL from $1,200 (113 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Near North Side 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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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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property at 1244 N Dearborn St

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900
Total Monthly Price
$1,900

Studio, 1 Bath Condo for Rent

Available Now

1244 N Dearborn St, Unit 3R

1244 N Dearborn St
ChicagoIL60610
property at 70 W Huron St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

Studio, 1 Bath Condo for Rent

Available Aug 1

70 W Huron St, Unit 12

70 W Huron St
ChicagoIL60654

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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440 W Elm St, Unit 111
$1,995
Total Monthly Price

Total Monthly Price

Base Rent
$1,995
Total Monthly Price
$1,995
1 Bedroom Apartment Available Now

440 W Elm St, Unit 111

440 W Elm StChicago, IL 60610
Affordability
property at 1226 N Dearborn St

$2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,100
Total Monthly Price
$2,100

Studio, 1 Bath Condo for Rent

Available Now

1226 N Dearborn St, Unit 33C

1226 N Dearborn St
ChicagoIL60610
property at 1122 N Clark St

$2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,100
Total Monthly Price
$2,100

Studio, 1 Bath Condo for Rent

Available Now

1122 N Clark St, Unit 1122

1122 N Clark St
ChicagoIL60610

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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. 11 W. Division has the second lowest priced unit, which is a Studio apartment currently listed from $1,245. 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
11 W. DivisionStudioStudio,1BA$1,245
1036 N. DearbornStudioStudio,1BA$1,375
18 E. ElmStudioStudio,1BA$1,475
1164 N DearbornStudioStudio,1BA$1,495
Park DearbornPullmanStudio,1BA$1,525
55 W. Chestnut1BR-JR/1BA1BR,1BA$1,953
Canterbury Court ApartmentsFurnished 1 Bedroom 1 Bathroom in Gold Coast1BR,1BA$2,100
127 Maple AveL101BR,1BA$2,100

Best Value Apartments for Rent in Near North Side, IL

As of June 11, 2026 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 1214 N La Salle Dr Model at 1214 N La Salle Dr, Unit F5 starting at $4,095 with a $3.72 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
1214 N La Salle Dr, Unit F51214 N La Salle Dr2BR,2BA$3.72
1226 N Dearborn St1226 N Dearborn St2BR,1BA$2.82
Asbury PlazaDeluxe One Bedroom1BR,1BA$2.94
1111 N. Dearborn1-BR/1BA1BR,1BA$2.81
The Archer1BR/1.0BA1BR,1BA$3.23
Chestnut PlaceHStudio ,1BA$3.81
127 Maple AveL101BR,1BA$3.23
55 W. Chestnut1BR-JR/1BA1BR,1BA$3.38
Maple1 Bedroom 1 Bathroom1BR,1BA$2.28

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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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!

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 $2,100.

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 6 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 $592 which is $15,927 cheaper than the average rent for all rentals in Near North Side.

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

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.