Cheap Apartments for Rent in the University Village Neighborhood of Chicago, IL from $700 (66 Rentals)

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Search the lowest-cost Apartments available for rent right now in the University Village 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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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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property at 1702 S Morgan St

$2,000

Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000

2 Bedroom, 1 Bath Condo for Rent

Available Jul 1

1702 S Morgan St, Unit # 01R, Unit # 01R

1702 S Morgan St
ChicagoIL60608

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 1111 W 14th Pl

$2,095

Total Monthly Price

Total Monthly Price

Base Rent
$2,095
Total Monthly Price
$2,095

1 Bedroom, 1 Bath Condo for Rent

Available Now

1111 W 14th Pl, Unit 321, Unit 321

1111 W 14th Pl
ChicagoIL60608
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1809 S Carpenter St
Studio Apartments

1809 S Carpenter St

1809 S Carpenter StChicago, IL 60608
  • Utilities Included
  • Smoke Free
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1810 S Throop St
1 to 2 Bedroom Apartments

1810 S Throop St

1810 S Throop StChicago, IL 60608
  • Utilities Included
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1912 S Throop St
Studio to 2 Bedroom Apartments

1912 S Throop St

1912 S Throop StChicago, IL 60608
Corporate Housing
  • Utilities Included

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

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.

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1206-1208 W Lexington St
2 to 3 Bedroom Apartments

1206-1208 W Lexington St

1206-1208 W Lexington StChicago, IL 60607
  • Utilities Included
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Harris Point Chicago
Studio to 4 Bedroom Apartments

Harris Point Chicago

1404 W Taylor StChicago, IL 60607
Student Housing
  • Utilities Included
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Illume
Studio to 3 Bedroom Apartments

Illume

111 S Peoria StChicago, IL 60607
Furnished
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1603 S Wood St
1 to 3 Bedroom Apartments

1603 S Wood St

1603 S Wood StChicago, IL 60608
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1413 W Taylor St
3 Bedroom Apartments

1413 W Taylor St

1413 W Taylor StChicago, IL 60607
  • Utilities Included
  • Smoke Free
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Lexington 90
1 to 2 Bedroom Apartments

Lexington 90

1409 W Lexington StChicago, IL 60607

Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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Showing Results 1-50, Page 1 of 2

University Village, Chicago, IL Local Guide

Cheapest Available University Village Apartments for Rent

 

The cheapest available apartment rental in the University Village area of Chicago, IL is a 4 Beds unit found at Addams Coliving priced from $1,250. 768 W. Jackson has the second lowest priced unit, which is a Studio apartment currently listed from $1,425. Here are the most affordable University Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Addams ColivingUnit 2074BR,4BA$1,250
768 W. JacksonStudioStudio,1BA$1,425
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
The RosieA4Studio,1BA$1,902
Atrio ApartmentsS1 (11 & 13)Studio,1BA$2,144

Best Value Apartments for Rent in University Village, IL

As of April 25, 2026 the best value apartment in the University Village area is the $1.18 price per square foot 1901 S May St Model at 1901 S May St, Unit 1 in the in the University Village neighborhood starting from $3,000. The second greatest value University Village apartment is the Apartment 3 Bedroom Model at 1935 S Canalport Ave starting at $1,825 with a $0.93 price per square foot in the South Loop neighborhood. Here is today’s list of the best values for University Village apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1901 S May St, Unit 11901 S May St3BR,2.5BA$1.18
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
1822 S Throop St, Unit 2F1822 S Throop St3BR,2BA$1.36
1700 S Morgan St2nd fl3BR,2BA$2.14
901 W 19th St, Unit 3901 W 19th St3BR,1BA$1.79
827 S Laflin St827 S Laflin St3BR,1BA$2.24
1320 W 19th St, Unit A31320 W 19th St2BR,2BA$2.33
1647 S Throop St, Unit 1st floor1647 S Throop St3BR,2BA$1.92
1943 W 21st Pl, Unit 1R1943 W 21st Pl2BR,1BA$1.75
1923 S Peoria St, Unit 1F1923 S Peoria St2BR,1BA$1.53

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?

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Pet Friendly Lifestyle
University Village, Chicago, IL

Ranked #37

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
University Village, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap University Village Apartments

What is the Cheapest Studio apartment in University Village?

Currently the most affordable Cheap Studio Apartment in University Village is at 768 W. Jackson listed at $1,425.

How much is rent for a Cheap One Bedroom University Village Apartment?

The lowest price for a Cheap One Bedroom University Village Apartment is $2,238 at Scio at the Medical District.

What is the lowest price for a Cheap Two Bedroom University Village Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in University Village is starting from $2,645 at Addams Coliving.

What is the most affordable University Village Three Bedroom Apartment?

The best deal on a cheap University Village Three Bedroom Apartment rental is at 1935 S Canalport Ave and starts from $1,825.

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.

decorative image for Best Neighborhoods to Rent in Near Chicago's Top Employers article

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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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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

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