Cheap Apartments for Rent in the River North Neighborhood of Chicago, IL from $1,200 (196 Rentals)

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Search the lowest-cost Apartments available for rent right now in the River North 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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property at 630 N Franklin St

$2,100

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Condo for Rent

Available Jun 1

630 N Franklin St, Unit 513, Unit 513

630 N Franklin St
ChicagoIL60654

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 360 W Illinois St

$2,200

Total Monthly Price

Total Monthly Price

Base Rent
$2,200
Total Monthly Price
$2,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

360 W Illinois St

ChicagoIL60654
property at 333 W Hubbard St

$2,200 - $4,400

Total Monthly Price

Total Monthly Price

Base Rent
$2,200 - $4,400
Total Monthly Price
$2,200 - $4,400

Studio To 2 Bedroom Condos for Rent

Available Now

333 W Hubbard St

ChicagoIL60654
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AMLI 808
$2,221 - $4,760
Total Monthly Price

Total Monthly Price

Base Rent
$2,221 - $4,760
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

AMLI 808

808 N Wells StChicago, IL 60610
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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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property at 152 W Superior St

$2,289

Total Monthly Price

Total Monthly Price

Base Rent
$2,289
Total Monthly Price
$2,289

Studio, 1 Bath Condo for Rent

Available Now

152 W Superior St, Unit 4R, Unit 4R

152 W Superior St
ChicagoIL60654

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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River North, Chicago, IL Local Guide

Cheapest Available River North Apartments for Rent

 

The cheapest available apartment rental in the River North area of Chicago, IL is a Studio unit found at 25 E. Delaware priced from $1,445. Marina City has the second lowest priced unit, which is a Studio apartment currently listed from $2,000. Here are the most affordable River North apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
25 E. DelawareStudio 1Studio,1BA$1,445
Marina CityFurnished StudioStudio,1BA$2,000
320 N. MichiganStudioStudio,1BA$2,025
10 E. Ontario St.1 Bedroom Corner1BR,1BA$2,050
The Bush TempleH-A2Studio,1BA$2,163
Hugo River North1B/1B1BR,1BA$2,271
The Gallery on Wellsgastd07cStudio,1BA$2,342
Hubbard 221Tier 05bStudio,1BA$2,373

Best Value Apartments for Rent in River North, IL

As of May 27, 2026 the best value apartment in the River North area is the $3.13 price per square foot Type A Model at Chestnut Row Homes in the in the Magnificent Mile neighborhood starting from $15,000. The second greatest value River North apartment is the Two Bedroom 1324 sq ft Model at 440 N. Wabash Ave. starting at $2,800 with a $2.11 price per square foot in the Magnificent Mile neighborhood. Here is today’s list of the best values for River North apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Chestnut Row HomesType A4BR,4.5BA$3.13
440 N. Wabash Ave.Two Bedroom 1324 sq ft2BR,2BA$2.11
750 N. Rush2-BR/2BA2BR,2BA$2.88
318 W Grand Ave022BR,2BA$3.63
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
Asbury PlazaDeluxe One Bedroom1BR,1BA$2.96
545 N Dearborn St, Unit 2201B545 N Dearborn St1BR,1BA$3.08
451 N State St451 N State St1BR,1BA$3.47
AltaWest 07 & 121BR,1BA$3.53
601 N State St601 N State StStudio ,1BA$3.66

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 analysis called 'Lifestyle Ratings' - a comparison of rentals in cities across the United States and customized analysis for Central Chicago. 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, pet-friendly features, places that make kids happy, proximity to transit, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap River North Apartments

What is a cheap apartment in River North?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in River North is under $2,373.

What is the price of a cheap apartment in River North?

The cheapest apartment in River North is 25 E. Delaware which is listed at $1,925, while the average apartment in River North costs $16,519.

What types of apartments are the cheapest in River North?

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 20 regular apartments in River North 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 River North?

Cheap apartments in River North have an average cost of $528 which is $15,991 cheaper than the average rent for all rentals in River North.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.