Cheap Homes for Rent in University Village Neighborhood of Chicago, IL from $500 (29 Rentals)

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

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Showing Results 1-29, Page 1 of 1

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 $1,395. Here are the most affordable University Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Addams ColivingUnit 3164BR,3BA$1,190
768 W. JacksonStudioStudio,1BA$1,395
The RosieB1Studio,1BA$1,755
Bishop Street LoftsTwo Bedroom Loft2BR,1BA$1,800
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
Scio at the Medical DistrictStudio A1Studio,1BA$1,933

Best Value Apartments for Rent in University Village, IL

As of November 13, 2025 the best value apartment in the University Village area is the $0.93 price per square foot Apartment 3 Bedroom Model at 1935 S Canalport Ave in the in the South Loop neighborhood starting from $1,825. The second greatest value University Village apartment is the 1822 S Throop St Model at 1822 S Throop St, Unit 2F starting at $2,995 with a $1.66 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 ListingModel NameBed/BathPrice Per Sq.Ft.
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
1822 S Throop St, Unit 2F1822 S Throop St3BR,2BA$1.66
1822 S Throop St, Unit 1F1822 S Throop St3BR,2.5BA$1.58
229 S Racine Ave, Unit 1229 S Racine Ave3BR,2BA$1.75
1918 W Cermak Rd, Unit 31918 W Cermak Rd3BR,2BA$1.57
1016 W Cullerton St, Unit 1F1016 W Cullerton St2BR,1BA$1.32
1653 S Throop St, Unit 3W1653 S Throop St3BR,2BA$1.80
1647 S Throop St, Unit 2nd Rear1647 S Throop St2BR,2BA$1.60
1943 W 21st Pl, Unit 1R1943 W 21st Pl2BR,1BA$1.75
2040 W Cullerton St, Unit 22040 W Cullerton St2BR,1BA$1.68

Frequently Asked Questions about University Village

What type of rentals are currently available in University Village?

There are currently 517 Apartments for Rent in University Village, IL with pricing that ranges from $1,040 to $29,954. There are also 275 Single Family Homes for rent, Condos, and Townhome rentals currently available in University Village ranging from $595 to $6,756.

What is the current price range for Rental Homes in University Village?

Today's rental pricing for Homes for Rent, Condos and Townhomes in University Village ranges from $595 to $6,756 with an average monthly rent of $2,369.

How much are larger Three and Four Bedroom Rentals in University Village?

For those who are looking for larger living arrangements, Three Bedroom Apartments in University Village range from $1,085 to $12,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $650 to $6,756. Four Bedroom Single-Family rentals are also available starting from $660 and Four Bedroom Apartments start at $1,040.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.