Cheap Homes for Rent in University Village Neighborhood of Chicago, IL from $800 (30 Rentals)

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

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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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 1115 W 17th St

$1,425

1 Bedroom, 1 Bath Condo for Rent

Available Now

1115 W 17th St

ChicagoIL60608

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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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 $1,255. 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 ListingModel NameBed/BathPriced From
Addams ColivingUnit 2184BR,4BA$1,255
768 W. JacksonStudioStudio,1BA$1,455
The DuncanM-A2 - 100% AMI AROStudio,1BA$1,745
Bishop Street LoftsTwo Bedroom Loft2BR,1BA$1,800
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
The RosieA6Studio,1BA$1,964
Scio at the Medical DistrictStudio A1Studio,1BA$2,038

Best Value Apartments for Rent in University Village, IL

As of January 19, 2026 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 229 S Racine Ave Model at 229 S Racine Ave, Unit 1 starting at $3,295 with a $2.06 price per square foot in the West 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.
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$2.06
1900 S Throop St, Unit 61900 S Throop St3BR,1BA$1.43
719 S Loomis St, Unit 2719 S Loomis St4BR,1BA$1.87
821 W Van Buren St, Unit 2821 W Van Buren St2BR,1BA$2.23
1427 W Lexington St, Unit 1 st. Floor1427 W Lexington St3BR,1.5BA$1.62
1752 W 18th Pl3 Bedrooms3BR,2BA$2.06
1921 W 21st St, Unit M06H1921 W 21st St2BR,2BA$2.16
2020 S Throop St, Unit 2E2020 S Throop St2BR,2BA$2.24
Bishop Street LoftsOne Bedroom1BR,1BA$2.11

Frequently Asked Questions about University Village

What type of rentals are currently available in University Village?

There are currently 499 Apartments for Rent in University Village, IL with pricing that ranges from $1,040 to $15,732. There are also 217 Single Family Homes for rent, Condos, and Townhome rentals currently available in University Village ranging from $825 to $12,000.

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 $825 to $12,000 with an average monthly rent of $2,451.

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 $1,065 to $5,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $825 to $6,856. Four Bedroom Single-Family rentals are also available starting from $930 and Four Bedroom Apartments start at $1,040.

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.

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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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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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!