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Cheap Apartments for Rent in the University Village Neighborhood of Chicago, IL from $700 (30 Rentals)
Search the lowest-cost Apartments available for rent right now in the University Village area of Chicago.
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$1,4901 Bedroom Apartments Available Jan 18, 2026
165 N Desplaines St
165 N Desplaines StChicago, IL 60661
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$1,520Studio Apartments Available Feb 8, 2026
1035 W Van Buren St
1035 W Van Buren StChicago, IL 60607
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$1,5401 Bedroom Apartments Available Jan 20, 2026
1035 W Van Buren St
1035 W Van Buren StChicago, IL 60607
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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1512 W 17th St
ChicagoIL60608
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$1,6701 Bedroom Apartments Available Jan 26, 2026
601 W Jackson Blvd
601 W Jackson BlvdChicago, IL 60661
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$1,6701 Bedroom Apartments Available Jan 28, 2026
601 W Jackson Blvd
601 W Jackson BlvdChicago, IL 60661
1841 S Carpenter 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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1 to 2 Bedroom Apartments
Roosevelt Place Senior Apartments
1401-1431 W Roosevelt RdChicago, IL 60608
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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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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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Showing Results 1-30, Page 1 of 1
University Village, Chicago, IL Local Guide
How much does it cost to rent an apartment in University Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Village Studio Apartments | $2,293 | $1,455 | $3,416 |
| University Village 1 Bedroom Apartments | $2,618 | $1,400 | $4,848 |
| University Village 2 Bedroom Apartments | $3,165 | $1,470 | $6,780 |
| University Village 3 Bedroom Apartments | $2,287 | $1,065 | $5,471 |
| University Village 4 Bedroom Apartments | $1,586 | $1,040 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 30 rentals with your search options within a 1 mile radius of the University Village Neighborhood of Chicago, IL.
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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 $1,190. 768 W. Jackson has the second lowest priced unit, which is a Studio apartment currently listed from $1,455. Here are the most affordable University Village apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Addams Coliving | Unit 316 | 4BR,3BA | $1,190 |
| 768 W. Jackson | Studio | Studio,1BA | $1,455 |
| The Duncan | M-A2 - 100% AMI ARO | Studio,1BA | $1,745 |
| Bishop Street Lofts | Two Bedroom Loft | 2BR,1BA | $1,800 |
| 1935 S Canalport Ave | Apartment 3 Bedroom | 3BR,2BA | $1,825 |
| The Rosie | A15 | Studio,1BA | $1,850 |
Best Value Apartments for Rent in University Village, IL
As of December 26, 2025 the best value apartment in the University Village area is the $1.61 price per square foot 1830 S Peoria St Model at 1830 S Peoria St, Unit 1 in the in the University Village neighborhood starting from $4,000. The second greatest value University Village apartment is the 1751 W 21st Pl Model at 1751 W 21st Pl, Unit 1 starting at $2,000 with a $1.00 price per square foot in the University Village neighborhood. Here is today’s list of the best values for University Village apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1830 S Peoria St, Unit 1 | 1830 S Peoria St | 5BR,3BA | $1.61 |
| 1751 W 21st Pl, Unit 1 | 1751 W 21st Pl | 3BR,1BA | $1.00 |
| 1935 S Canalport Ave | Apartment 3 Bedroom | 3BR,2.5BA | $0.93 |
| 1822 S Throop St, Unit 2F | 1822 S Throop St | 3BR,2BA | $1.36 |
| 1822 S Throop St, Unit 1F | 1822 S Throop St | 3BR,2.5BA | $1.58 |
| 1016 W Cullerton St, Unit 1F | 1016 W Cullerton St | 2BR,1BA | $1.32 |
| 1900 S Throop St, Unit 6 | 1900 S Throop St | 3BR,1BA | $1.43 |
| 719 S Loomis St, Unit 2 | 719 S Loomis St | 4BR,1BA | $1.87 |
| 1427 W Lexington St, Unit 1 st. Floor | 1427 W Lexington St | 3BR,1.5BA | $1.62 |
| 1943 W 21st Pl, Unit 1R | 1943 W 21st Pl | 2BR,1BA | $1.75 |
Frequently Asked Questions about Cheap University Village Apartments
What is a cheap apartment in University Village?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in University Village is under $1,850.
What is the price of a cheap apartment in University Village?
The cheapest apartment in University Village is Bishop Street Lofts which is listed at $1,950, while the average apartment in University Village costs $16,979.
What types of apartments are the cheapest in University Village?
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 143 regular apartments in University Village 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 University Village?
Cheap apartments in University Village have an average cost of $897 which is $16,082 cheaper than the average rent for all rentals in University Village.
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
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.
Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago
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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.
Best Neighborhoods to Rent in Near Chicago's Top Employers
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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.
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
How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!