
Cheap Apartments for Rent in the New City Neighborhood of Chicago, IL from $500 (11 Rentals)
Search the lowest-cost Apartments available for rent right now in the New City area of Chicago.


4841 S Loomis Blvd

4500 S Wood St, Unit 2M

Total Monthly Price
5031 S Elizabeth St, Unit 2

5031 S Elizabeth St
The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago
Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

1843 W 54th St

1524 W Garfield Blvd

4621 S Ashland Ave

4351 S Honore St

4802 S Winchester Ave
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

4812 S Elizabeth St
New City, Chicago, IL Local Guide

How much does it cost to rent an apartment in New City?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| New City 1 Bedroom Apartments | $1,095 | $1,095 | $1,095 |
| New City 2 Bedroom Apartments | $1,235 | $998 | $1,500 |
| New City 3 Bedroom Apartments | $1,619 | $1,200 | $2,100 |
| New City 4 Bedroom Apartments | $2,450 | $2,450 | $2,450 |
Browse Apartments in this Neighborhood
There are currently 11 rentals with your search options within a 1 mile radius of the New City Neighborhood of Chicago, IL.
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New City, Chicago, IL Local Guide
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Best Value Apartments for Rent in New City, IL
As of September 10, 2026 the best value apartment in the New City area is the $1.24 price per square foot 5211 S Bishop St Model at 5211 S Bishop St, Unit Bishop in the in the Englewood neighborhood starting from $2,100. The second greatest value New City apartment is the 4838 S Bishop St Model at 4838 S Bishop St, Unit 1 starting at $1,600 with a $1.60 price per square foot in the Englewood neighborhood. Here is today’s list of the best values for New City apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 5211 S Bishop St, Unit Bishop | 5211 S Bishop St | 3BR,1BA | $1.24 |
| 4838 S Bishop St, Unit 1 | 4838 S Bishop St | 3BR,1BA | $1.60 |
| 5437 S Laflin St, Unit 1F | 5437 S Laflin St | 2BR,1BA | $1.50 |
| 5031 S Elizabeth St, Unit 2 | 5031 S Elizabeth St | 3BR,1BA | $1.33 |
| 5432 S Aberdeen St, Unit 2 | 5432 S Aberdeen St | 4BR,1BA | $4.08 |
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.
Read ArticleBest Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters
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Read ArticleNavigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleA 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
Read ArticleReal 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.
Read ArticleQuick Rent Budget Calculator
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.
Best Local Schools in New City, Chicago, IL
Hamline Elementary School
BACK OF THE YARDS IB HS
Sherman School of Excellence
School data provided by Great Schools
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

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago
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When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

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I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Articles, How-To's, and Tips

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