Cheap Apartments for Rent in the Ravenswood Neighborhood of Chicago, IL from $700 (79 Rentals)

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

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Damen Apartments
Studio to 1 Bedroom Apartments

Damen Apartments

4851 N DamenChicago, IL 60625
  • Utilities Included

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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Cheapest Available Ravenswood Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
4606 N. HermitageStudioStudio,1BA$1,185

Best Value Apartments for Rent in Ravenswood, IL

As of August 17, 2025 the best value apartment in the Ravenswood area is the $0.15 price per square foot 4735 N Hermitage Ave Model at 4735 N Hermitage Ave, Unit 404 in the in the Ravenswood neighborhood starting from $1,450. The second greatest value Ravenswood apartment is the 2122 W Ainslie St Model at 2122 W Ainslie St, Unit 2 starting at $1,595 with a $0.16 price per square foot in the Ravenswood neighborhood. Here is today’s list of the best values for Ravenswood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
4735 N Hermitage Ave, Unit 4044735 N Hermitage AveStudio ,1BA$0.15
2122 W Ainslie St, Unit 22122 W Ainslie StStudio ,1BA$0.16
4849 N Seeley Ave, Unit # 024849 N Seeley Ave3BR,1BA$0.35
2707 W Berwyn Ave, Unit A07W2707 W Berwyn Ave2BR,1BA$1.54
2855 W Argyle St, Unit 2W2855 W Argyle St2BR,1BA$1.79
2707 W Berwyn Ave, Unit 22707 W Berwyn Ave2BR,1BA$1.42
2152 W Agatite Ave, Unit G2152 W Agatite Ave2BR,1BA$1.67
1916 W Winona St, Unit 1932-31916 W Winona St2BR,1BA$1.81
5137 N Wolcott Ave, Unit 3A5137 N Wolcott Ave1BR,1BA$1.57
5133 N Wolcott Ave, Unit 1A5133 N Wolcott Ave1BR,1BA$1.83

Getting Around the Ravenswood Neighborhood in Chicago, IL

Walk Score®

92 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

90 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

67 / 100

Good Transit

Many nearby public transportation options

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 Ravenswood Apartments

What is a cheap apartment in Ravenswood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Ravenswood is under $1,185.

What is the price of a cheap apartment in Ravenswood?

The cheapest apartment in Ravenswood is Harry Frank Building - 1938 W Lawrence Ave which is listed at $1,452, while the average apartment in Ravenswood costs $3,500.

How do the prices of cheap apartments compare to the average apartment in Ravenswood?

Cheap apartments in Ravenswood have an average cost of $180 which is $3,320 cheaper than the average rent for all rentals in Ravenswood.

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.