Cheap Homes for Rent in Oak Park, IL from $500 (47 Rentals)

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Search the lowest-cost Homes available for rent right now in Oak Park.

property at 5910 W 26th St

$1,085 - $1,150

1 Bedroom Rentals

Available Now

5910 W 26th St

CiceroIL60804

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 7234 W North Ave

$1,380

Total Monthly Price

Total Monthly Price

Base Rent
$1,380
Total Monthly Price
$1,380

1 Bedroom, 1 Bath Condo for Rent

Available Now

7234 W North Ave, Unit 7234

7234 W North Ave
Elmwood ParkIL60707

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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property at 3029 N Austin Ave

$1,500

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Home for Rent

Available Now

3029 N Austin Ave

ChicagoIL60634

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 2317 N Neva Ave

$1,600 - $1,650

1 To 2 Bedroom Rentals

Available Now

2317 N Neva Ave

ChicagoIL60707
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Oak Park, IL Local Guide

Cheapest Available Oak Park Apartments for Rent

 

The cheapest available apartment rental in Oak Park, IL is a Studio unit found at Pine North in the Austin neighborhood priced from $795. 5836 W Madison in the Oak Park Historic District neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here is today’s list of the most affordable Oak Park apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Pine North0BR/1.0BAStudio,1BA$795
5836 W MadisonStudio ApartmentStudio,1BA$895
5948 W SuperiorStudio ApartmentStudio,1BA$935
5001 W AdamsStudio ApartmentStudio,1BA$960
4850 W North AveNSTUDIO1Studio,1BA$990
567 N Pine Ave2B1BR,1BA$1,000
1145 N AustinStudio ApartmentStudio,1BA$1,015
432-438 N. Austin Blvd.432-438 N. Austin StudioStudio,1BA$1,059
5024 W Quincy1 Bedroom 1 Bath Apartment1BR,1BA$1,155

Best Value Apartments for Rent in Oak Park, IL

As of August 17, 2026 the best value apartment in the Oak Park area is the $0.59 price per square foot 5226 W Crystal St Model at 5226 W Crystal St, Unit 2 in the in the Austin neighborhood starting from $2,200. The second greatest value Oak Park apartment is the 3 Beds, 3 baths Model at 2717 Wesley Ave starting at $2,095 with a $1.06 price per square foot in the Ogden Avenue District neighborhood. Here is today’s list of the best values for Oak Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5226 W Crystal St, Unit 25226 W Crystal St3BR,1BA$0.59
2717 Wesley Ave3 Beds, 3 baths3BR,3BA$1.06
1706 N Mayfield Ave, Unit 21706 N Mayfield Ave3BR,1BA$0.86
654 N Pine4 Bedroom 1.5 Bath Apartment4BR,1.5BA$1.20
901 Ontario Apartments3 bedroom 2 bath3BR,2BA$1.24
5021 W Belden St, Unit 2W5021 W Belden St3BR,1BA$1.40
5100 W Madison3 Bedroom 2 Bath Apartment with Dining3BR,2BA$1.18
5223-5225 W Washington Blvd2 Bed 1 Bath2BR,1BA$1.36
1056 N Parkside Ave, Unit G Unit1056 N Parkside Ave3BR,1BA$1.23
567 N Pine Ave2B1BR,1BA$1.43

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

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

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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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Best Local Schools in
Oak Park, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Oak Park

What type of rentals are currently available in Oak Park?

There are currently 1601 Apartments for Rent in Oak Park, IL with pricing that ranges from $760 to $10,063. There are also 195 Single Family Homes for rent, Condos, and Townhome rentals currently available in Oak Park ranging from $550 to $5,100.

What is the current price range for Rental Homes in Oak Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Oak Park ranges from $550 to $5,100 with an average monthly rent of $2,231.

How much are larger Three and Four Bedroom Rentals in Oak Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Oak Park range from $1,350 to $7,627, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $5,100. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $1,800.

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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The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

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Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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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.

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Rent According to Income: A Look at Income-Restricted Rentals

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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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