Cheap Apartments for Rent in the Oakland Neighborhood of Chicago, IL from $700 (33 Rentals)

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

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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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Hyde Park / Kenwood
Studio to 1 Bedroom Apartments

Hyde Park / Kenwood

4400-4404 S Drexel BlvdChicago, IL 60653
  • Utilities Included
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Paul G Stewart Center
Studio to 2 Bedroom Apartments

Paul G Stewart Center

400 E 41st StChicago, IL 60653
Senior Living
  • Utilities Included

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Lake Park Manor
1 to 4 Bedroom Apartments

Lake Park Manor

3601-3645 S Lake Park AveChicago, IL 60653
  • Utilities Included
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Oakwood Apartments
Studio to 1 Bedroom Apartments

Oakwood Apartments

427-439 E Oakwood BlvdChicago, IL 60653
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The Sutherland
Studio to 2 Bedroom Apartments

The Sutherland

4659 S Drexel BlvdChicago, IL 60653
Corporate Housing
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Maple Court
Studio to 2 Bedroom Apartments

Maple Court

1120-1126 E 47th StChicago, IL 60653
Corporate Housing

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Pershing Place
1 to 3 Bedroom Apartments

Pershing Place

624 E Pershing RdChicago, IL 60653
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1030 E 47th
2 Bedroom Apartments

1030 E 47th

1030 E 47th StChicago, IL 60653
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4611 S Drexel Blvd
1 to 2 Bedroom Apartments

4611 S Drexel Blvd

4611 S Drexel BlvdChicago, IL 60653

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Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

Oakland, Chicago, IL Local Guide

Cheapest Available Oakland Apartments for Rent

 

The cheapest available apartment rental in the Oakland area of Chicago, IL is a 4 Beds unit found at Coleman Place At Legends South priced from $170. Lake Meadows Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,035. Here are the most affordable Oakland apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Coleman Place At Legends SouthThe Wells4BR,2BA$170
Lake Meadows Apartmentslakem7-0b1bStudio,1BA$1,035
4700 Lake Park ApartmentsStudioStudio,1BA$1,214
Lake Grove Village1B1BR,1BA$1,218
The Sutherlandsuthm-0bCStudio,1BA$1,395
Maple Courtmplc1bc1BR,1BA$1,399
1030 E 47th2 Bedroom 1 Bath Apartment2BR,1BA$1,790
Woodland Park By The LakeThe Lakeshore2BR,2BA$1,975

Best Value Apartments for Rent in Oakland, IL

As of April 10, 2026 the best value apartment in the Oakland area is the $1.86 price per square foot 3 Bed 2 Bath Model at Celebration Apartments in the in the Armour Square neighborhood starting from $2,950. The second greatest value Oakland apartment is the 3S Model at 3610 S Ellis Ave starting at $2,600 with a $1.72 price per square foot in the Douglas neighborhood. Here is today’s list of the best values for Oakland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Celebration Apartments3 Bed 2 Bath3BR,2BA$1.86
3610 S Ellis Ave3S3BR,2BA$1.72
4111 S Indiana Ave, Unit Unit #24111 S Indiana Ave2BR,2BA$1.76
Woodland Park By The LakeThe Harbor2BR,2BA$1.95
1030 E 47th2 Bedroom 1 Bath Apartment2BR,1BA$2.22
4010 S Calumet Ave, Unit 1D4010 S Calumet Ave2BR,2BA$2.37
Coleman Place At Legends SouthThe Burnham1BR,1BA$1.20
4011 S Calumet Ave, Unit G4011 S Calumet Ave1BR,1BA$1.93
Lake Grove Village1A1BR,1BA$1.97
4700 Lake Park ApartmentsStudioStudio ,1BA$2.53

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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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
Oakland, Chicago, IL

Ranked #78

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Oakland Apartments

What is a cheap apartment in Oakland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Oakland is under $1,975.

What is the price of a cheap apartment in Oakland?

The cheapest apartment in Oakland is Coleman Place At Legends South which is listed at $914, while the average apartment in Oakland costs $2,950.

What types of apartments are the cheapest in Oakland?

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 147 regular apartments in Oakland 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 Oakland?

Cheap apartments in Oakland have an average cost of $1,231 which is $1,719 cheaper than the average rent for all rentals in Oakland.

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

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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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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.

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Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.