Cheap and Affordable Apartments for Rent in Chicago, IL

11,892 rentals available

Updated

Chicago Snapshot

Frequently asked questions

How many cheaper, more affordable apartments are available in Chicago, IL?

There are 11.9k cheaper apartment units available for rent.

What does "Cheap" mean for Apartment rentals in Chicago, IL?

Cheap is a relative term to communicate more "affordable" rental and living expenses. Although a property might be found within the "Cheap and Affordable Apartments" search, does not mean it is a low-quality rental. These more affordable apartments are also relative to the other apartment inventory within Chicago. Some areas will be cheaper than others and based on demand, rent will fluctuate.

How to search for Cheap and Affordable Apartments in Chicago, IL?

When searching on HotPads for more affordable apartments, use the "Sort:" feature to sort apartments by Lowest Price for Chicago. Additionally, set a max price for your search and select "Save search" to be notified in real-time when "cheaper" apartments come on the market.

What are some additional tips for securing a "cheaper" apartment?

Although a larger multi-tenant building is less likely to negotiate rental terms there are a few things that don't hurt to try, including:

  • Offer to sign a longer lease for lowered monthly rent
  • Negotiate landscaping or property maintenance for lowered monthly rent
  • Ask about becoming an onsite property manager
  • Educate yourself regarding the apartment rental market and market rates in Chicago. Knowing this will help you accurately negotiate fair rent.

About Chicago

Thinking of moving to Chicago? Here's what you need to know.

Nicknamed the Windy City, Chicago is situated on the shores of Lake Michigan, giving city dwellers their very own beach with a unique skyscraper backdrop. Chicago boasts one of the highest populations in the country, with more than 2.7 million residents. This Midwest city experiences warm summers and harsh winters with plenty of snow. Sports has a lot to do with Chicago's identity, with renowned teams like the Chicago Bulls (NBA), Bears (NFL), Blackhawks (NHL) and the White Sox and Cubs (MLB) entertaining fans year-round.

Who's There?

The Loop is Chicago's central business district, attracting employees in finance, commerce, technology, telecommunications and transport. The metro area (a.k.a. Chicagoland) has one of the largest labor pools in the U.S. The city's top employers include Baird & Warner, Abt Electronics, Rush-Copley Medical Center and Coyote Logistics. Chicago has more than 600 public primary and secondary schools and is home to several of the nation's top universities, including the University of Chicago, Northwestern University, Loyola University Chicago, Illinois Institute of Technology, DePaul University and University of Illinois at Chicago.

What's Around Chicago?

Chicago is divided into 77 well-defined communities that contain around 200 different neighborhoods. The North Side is a densely populated, residential area full of high rises, while the South Side's University of Chicago and Hyde Park make it popular for students. The West Side is one of the most ethnically diverse areas of the city, while to the East you'll find Lake Michigan and residents who enjoy waterfront living. Public transport makes life easy in this massive city. Chicago Transit Authority runs 24-hour rail and bus services, while Metra is a popular commuter rail and Pace provides efficient bus services.

What Do You Do In Chicago?

Have a slice of Chicago-style pizza or play and stay a while at one of Lake Michigan's many beaches. From wandering through the city's many art museums and parks to catching a world-famous sports team playing basketball, football or basketball, Chicago is packed to the brim with adventure. 

What are the Safest Neighborhoods to live in Chicago?

  1. 1. Edison Park Neighborhood
  2. 2. Lincoln Park Neighborhood
  3. 3. Lake View Neighborhood
  4. 4. North Center Neighborhood
  5. 5. Lincoln Square Neighborhood
  6. 6. West Town Neighborhood
  7. 7. Near North Side Neighborhood
  8. 8. Gold Coast Neighborhood
  9. 9. North Center Neighborhood
  10. 10. Streeterville Neighborhood