Cheap Homes for Rent in University Village Neighborhood of Chicago, IL from $1,200 (59 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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property at 1943 S May St

1943 S May St

ChicagoIL60608

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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 3 Beds unit found at Letterman Chicago priced from $1,075. 561 W 18th St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,150. Here are the most affordable University Village apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Letterman ChicagoMac - 3x23BR,2BA$1,075
561 W 18th StGarden Apartment Util Included 1bd 1 bath1BR,1BA$1,150
768 W. JacksonStudioStudio,1BA$1,345
Roosevelt SquareStudioStudio,1BA$1,450
The DuncanM-A24 - 100% AMI AROStudio,1BA$1,495
Bishop Street LoftsTwo Bedroom Loft2BR,1BA$1,800
Scio at the Medical DistrictOne Bedroom B11BR,1BA$2,142

Best Value Apartments for Rent in University Village, IL

As of June 11, 2025 the best value apartment in the University Village area is the $1.82 price per square foot 1335 W Taylor St Model at 1335 W Taylor St, Unit 2 in the in the University Village neighborhood starting from $3,995. The second greatest value University Village apartment is the 1335 W Taylor St Model at 1335 W Taylor St, Unit 2 starting at $3,995 with a $1.82 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.
1335 W Taylor St, Unit 21335 W Taylor St4BR,2BA$1.82
1335 W Taylor St, Unit 21335 W Taylor St4BR,2BA$1.82
1034 W 20th Pl, Unit 31034 W 20th Pl2BR,1.5BA$1.45
238 S Ashland Ave, Unit TH2238 S Ashland Ave3BR,2BA$2.17
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$2.06
1752 W 18th Pl3 Bedrooms3BR,2BA$2.29
1338 W Cullerton St3 bd 2 ba3BR,2BA$2.29
Letterman ChicagoBetty - 3x23BR,2BA$1.33
Bishop Street LoftsOne Bedroom1BR,1BA$2.11
1838 S May St, Unit Apt 2F1838 S May St2BR,1BA$1.93

Frequently Asked Questions about University Village

What type of rentals are currently available in University Village?

There are currently 519 Apartments for Rent in University Village, IL with pricing that ranges from $800 to $29,220. There are also 311 Single Family Homes for rent, Condos, and Townhome rentals currently available in University Village ranging from $1,225 to $6,500.

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 $1,225 to $6,500 with an average monthly rent of $3,045.

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 $950 to $6,495, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,200 to $6,500. Four Bedroom Single-Family rentals are also available starting from $2,700 and Four Bedroom Apartments start at $925.

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

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.