Cheap Apartments for Rent in the University Village Neighborhood of Chicago, IL from $700 (85 Rentals)

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

property at 1503 W 19th St

$1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500

Studio, 1 Bath Condo for Rent

Available Now

1503 W 19th St, Unit 3R

1503 W 19th St
ChicagoIL60608
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1838 S May St, Unit Apt 2F
$1,520
Total Monthly Price

Total Monthly Price

Base Rent
$1,520
Total Monthly Price
$1,520
2 Bedroom Apartment Available Now

1838 S May St, Unit Apt 2F

1838 S May StChicago, IL 60608
Affordability
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property at 816 W 18th St

$1,920 - $2,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,920 - $2,550
Total Monthly Price
$1,920 - $2,550

1 To 2 Bedroom Condos for Rent

Available Now

816 W 18th St

ChicagoIL60608
property at 1043 W Madison St

$2,100

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

1043 W Madison St, Unit 27R

1043 W Madison St
ChicagoIL60607

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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618 S Racine Ave
Studio to 2 Bedroom Apartments

618 S Racine Ave

618 S Racine AveChicago, IL 60607
Student Housing
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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
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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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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 1 Bed unit found at Addams 2.0 priced from $1,250. 6 Units in Pilsen - Beautifully Rehabbed has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,595. Here are the most affordable University Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Addams 2.01BR/1.0BA1BR,1BA$1,250
6 Units in Pilsen - Beautifully Rehabbed2 Beds, 1 Baths2BR,1BA$1,595
768 W. JacksonStudioStudio,1BA$1,635
The DuncanA64StuX (A-A7)Studio,1BA$1,760
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
1644 W 21st St2 Beds, 1 Baths2BR,1BA$1,899

Best Value Apartments for Rent in University Village, IL

As of July 24, 2026 the best value apartment in the University Village area is the $1.30 price per square foot 2040 W 19th St Model at 2040 W 19th St, Unit 2 in the in the University Village neighborhood starting from $2,600. 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.
2040 W 19th St, Unit 22040 W 19th St3BR,1BA$1.30
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
1127 W Madison St, Unit 31127 W Madison St2BR,2BA$2.32
2124 S Halsted St, Unit 32124 S Halsted St3BR,2BA$2.14
Tailor Lofts Student LivingJefferson4BR,4BA$0.95
1427 W Lexington St, Unit 1 st. Floor1427 W Lexington St3BR,1.5BA$1.50
1846 S Loomis St2 Beds, 1 Baths2BR,1BA$1.89
Bishop Street LoftsTwo Bedroom Loft2BR,1BA$2.00
1838 S May St, Unit Apt 2F1838 S May St2BR,1BA$2.03
6 Units in Pilsen - Beautifully Rehabbed2 Beds, 1 Baths2BR,1BA$2.36

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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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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Pet Friendly Lifestyle
University Village, Chicago, IL

Ranked #34

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 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 $1,899.

What is the price of a cheap apartment in University Village?

The cheapest apartment in University Village is Addams 2.0 which is listed at $1,250, while the average apartment in University Village costs $17,107.

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 42 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 $709 which is $16,398 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.

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