Cheap Homes for Rent in Old Town Neighborhood of Chicago, IL from $1,800 (18 Rentals)

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

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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Navigating 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.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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property at 70 W Burton Pl

70 W Burton Pl

ChicagoIL60610

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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property at 300 division

300 division

ChicagoIL60610
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Old Town, Chicago, IL Local Guide

Cheapest Available Old Town Apartments for Rent

 

The cheapest available apartment rental in the Old Town area of Chicago, IL is a 1 Bed unit found at 1162 - 1168 N La Salle Blvd priced from $1,375. 1555 N Mohawk St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,400. Here are the most affordable Old Town apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1162 - 1168 N La Salle Blvd1 Bed 1 Bath1BR,1BA$1,375
1555 N Mohawk St1-Bedroom1BR,1BA$1,400
1522 N La Salle DrStudioStudio,1BA$1,600
Larrabee Place at Parkside of Old Town1 Bedroom1BR,1BA$1,629
ONE Old Town ParkPlan S1Studio,1BA$1,896

Best Value Apartments for Rent in Old Town, IL

As of May 21, 2025 the best value apartment in the Old Town area is the $2.40 price per square foot 407 W North Ave Model at 407 W North Ave, Unit 5E in the in the Lincoln Park neighborhood starting from $4,500. The second greatest value Old Town apartment is the 1332 N Cleveland Ave Model at 1332 N Cleveland Ave, Unit 1 starting at $4,400 with a $2.59 price per square foot in the Near North Side neighborhood. Here is today’s list of the best values for Old Town apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
407 W North Ave, Unit 5E407 W North Ave3BR,2BA$2.40
1332 N Cleveland Ave, Unit 11332 N Cleveland Ave3BR,3BA$2.59
Affinity of North Avenue2bdmktrn2BR,2BA$2.51
Terrace 459Two Bed/Two Bath2BR,2BA$1.96
PostUnit 8113BR,2BA$1.40
1560 N Sandburg Ter, Unit 17031560 N Sandburg Ter1BR,1BA$2.80
Larrabee Place at Parkside of Old Town1 Bedroom1BR,1BA$2.28
1555 N Mohawk St1-Bedroom1BR,1BA$2.15
1162 - 1168 N La Salle Blvd1 Bed 1 Bath1BR,1BA$2.39
245 W North Ave, Unit 109245 W North AveStudio ,1BA$2.66

Quick 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.

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Frequently Asked Questions about Old Town

What type of rentals are currently available in Old Town?

There are currently 167 Apartments for Rent in Old Town, IL with pricing that ranges from $1,179 to $23,973. There are also 79 Single Family Homes for rent, Condos, and Townhome rentals currently available in Old Town ranging from $1,845 to $9,500.

What is the current price range for Rental Homes in Old Town?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Old Town ranges from $1,845 to $9,500 with an average monthly rent of $3,455.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.