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Cheap Apartments for Rent in Chicago, IL - 1,421 Rentals available

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Renting a Cheap Apartment in Chicago

The heart of the heartland, Chicago is a Midwestern metropolis with international flavor. A diverse and friendly population, thriving tourist economy, vibrant art and theatre scene, amazing restaurants and strong athletic traditions all combine to make Chi-town much beloved. Chowing down a Chicago-style hot dog at Wrigley Field is on many baseball fans’ life lists, and this is considered one of the best cities for being a sports fan in the U.S. You could roam the city trying all of the pizza joints for weeks ...unless you got distracted by all the other culinary offerings, from street carts to super swanky A-list restaurants. The range of neighborhoods here is equally large, though many residential areas are in proximity to Lake Michigan. A well-diversified economy with strong finance, science and engineering sectors creates many good jobs. And we’d be remiss not to mention the city’s affinity for politics, especially since current U.S. President Barack Obama calls Chicago home. He was a community organizer here early in his career.

Chicago, IL Demographics

  • Total Population2,722,586
  • Female 1,321,621
    Male 1,400,965
  • Median Age34.1

Average Rent in Chicago, IL

  • Chicago, IL Average Rental Price, December 2019 $1,947 /mo

Chicago, IL Apartment Rent Ranges

  • $501-$7002%
  • $701-$1,0009%
  • $1,001-$1,50025%
  • $1,501-$2,00024%
  • > $2,00039%

Chicago, IL Rent Trends

Average Rent Nov / 2016 Mar / 2017 Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Dec / 2019
Chicago, IL $1,767 $1,765 $1,834 $1,811 $1,815 $1,896 $1,897 $1,910 $1,998 $1,950 $1,947
National $1,354 $1,350 $1,382 $1,385 $1,388 $1,423 $1,431 $1,434 $1,469 $1,473 $1,474
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Chicago, IL Households

  • Total Number of Households1,046,789
  • Family 564,210
    Non-family 482,579
  • Children 286,783
    No Children 760,006
  • Average People Per Household2.54
  • Median Household Income$52,497
  • Median Housing Costs Per Month$1,168

Chicago, IL Education Statistics

  • No High School7%
  • Some High School32%
  • Some College20%
  • Associate Degree5%
  • Bachelor Degree22%
  • Graduate Degree13%

Looking for a cheap apartment for rent in Chicago, IL? With RENTCafé, finding an affordable apartment in Chicago, IL has never been easier. We feature 1,491 low-priced rentals directly from property managers, with rents lower than the Chicago, IL average. What is a cheap rent in Chicago, IL? The average apartment rent in Chicago is $1,947 per month so any rental south of $1,558 would be considered cheap here. On RENTCafé, Chicago, IL rents go as low as $425/mo.

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