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Apartments for Rent in Chicago, IL under $700 – 47 Rentals available

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Chicago, IL Demographics

  • Total Population2,709,534
  • Female 1,317,791
    Male 1,391,743
  • Median Age34.6

Average Rent in Chicago, IL

  • Chicago, IL Average Rental Price, December 2020 $1,799 /mo

Chicago, IL Apartment Rent Ranges

  • $501-$7001%
  • $701-$1,00012%
  • $1,001-$1,50029%
  • $1,501-$2,00027%
  • > $2,00030%

Chicago, IL Rent Trends

Average Rent Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Dec / 2020
Chicago, IL $1,834 $1,811 $1,815 $1,896 $1,897 $1,910 $1,998 $1,950 $1,967 $1,918 $1,799
National $1,373 $1,378 $1,381 $1,418 $1,428 $1,432 $1,468 $1,475 $1,477 $1,464 $1,462
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Check out the average rent prices in Chicago by neighborhood.

Chicago, IL Households

  • Total Number of Households1,066,829
  • Family 566,804
    Non-family 500,025
  • Children 280,365
    No Children 786,464
  • Average People Per Household2.48
  • Median Household Income$58,247
  • Median Housing Costs Per Month$1,241

Chicago, IL Education Statistics

  • No High School7%
  • Some High School31%
  • Some College20%
  • Associate Degree6%
  • Bachelor Degree23%
  • Graduate Degree14%

Apartments in Chicago, IL under $700

Balancing snug and cheap is no joke when it comes to renting a place to live. “Are there any apartments near me under $700?” is a great question to start from. Knowing your budget means you’re one step ahead and on the right track. We’ve taken care of the rest and found 47 apartments for rent in Chicago, IL on which you’ll spend less than $700. A small, cheap rental means you’ll have to budget your living space as well. The great news is that keeping it simple pays off in more than one way. The cost of utilities is likely to run low, and you get the added benefit of not having to spend too much time cleaning up the whole place. Smaller apartments are more likely to be closer to the city center, so there are potential cuts to your transportation costs too. And here’s one more very special secret to add to your book-of-perks: you’re less likely to overshop when you know your space is limited.

Rentals near you under $700

Our goal is to help you find cheap apartments that live up to your dreams without crushing your budget. It may be a long shot to go looking for 3 bedroom apartments or even 2 bedroom for less than $700. The average rental size in Chicago, IL is 519 Sq.Ft., but the $700 limit will probably narrow your search to places with a smaller square footage. Go through our listings and be on the look-out for a hassle-free studio or a 1 bedroom apartment. We trust you’ll turn it into a cozy home which is also budget-friendly to the core.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!