As the city continues to grow, finding the cheapest neighborhoods in Chicago remains a top priority for renters looking to balance cost and convenience. Whether you’re a first-time renter, or just looking to grow your savings, exploring apartments in Chicago can help you find a community that fits your lifestyle and budget.
In this Rent. article, we’ll explore some of the most affordable neighborhoods in Chicago, complete with neighborhood highlights and key details to help you find your perfect home.
Here’s a quick look at some of the most budget-friendly neighborhoods in Chicago and what you can expect to pay for a one-bedroom apartment in each area.
| Neighborhood | Average 1-bedroom rent |
|---|---|
| Far Southeast Side | $900 |
| Auburn Gresham | $920 |
| Woodlawn | $1,000 |
| Southwest Side | $1,005 |
| Austin | $1,020 |
| Bridgeport | $1,070 |
| Loyola | $1,200 |
| Albany Park | $1,300 |
| Northwest Side | $1,315 |
1. Far Southeast Side
Average 1-bedroom rent: $900 | YoY change: 24%
Average 2-bedroom rent: $970 | YoY change: -22%
Neighborhood highlights: Access to nature and outdoor spaces, bike trails
The Far Southeast Side has a more rural feel compared to other parts of Chicago. Lake Calumet, Big Marsh Park, and nearby walking trails provide a natural escape, perfect for outdoor enthusiasts. The area is also home to unique landmarks like the Pullman National Monument, celebrating the city’s industrial history. Affordable rentals and a quieter pace of life make it an attractive option for renters.
2. Auburn Gresham
Average 1-bedroom rent: $920 | YoY change: N/A
Average 2-bedroom rent: $1,055 | YoY change: N/A
Neighborhood highlights: Access to Metra, suburban feel
Auburn Gresham provides a suburban lifestyle within city limits, with tree-lined streets and affordable rents. Local businesses and community organizations create a welcoming atmosphere, while nearby Metra and bus routes make commuting easy. Additionally, residents can visit Dan Ryan Woods for scenic trails and picnic spots.
3. Woodlawn
Average 1-bedroom rent: $1,000 | YoY change: N/A
Average 2-bedroom rent: $1,295 | YoY change: -42%
Neighborhood highlights: New development projects, proximity to the University of Chicago and Jackson Park.
Woodlawn is a neighborhood in transition, blending its rich history with modern developments. Jackson Park, designed by Frederick Law Olmsted, has walking trails, a golf course, and the future site of the Obama Presidential Center. Affordable apartments, proximity to the University of Chicago, and easy access to the Metra make Woodlawn a convenient and budget-friendly choice.
4. Southwest Side
Average 1-bedroom rent: $1,005 | YoY change: N/A
Average 2-bedroom rent: $1,055 | YoY change: -30%
Neighborhood highlights: Quiet streets, close-knit communities, and easy access to the Loop and Midway Airport.
The Southwest Side is known for its blend of quiet residential streets and lively cultural events. Local treasures like the National Museum of Mexican Art in nearby Pilsen and authentic taquerias add to the area’s appeal. Ford City Mall and Midway Airport are convenient amenities, while public transit options make it easy to get around the city.
5. Austin
Average 1-bedroom rent: $1,020 | YoY change: 0%
Average 2-bedroom rent: $1,165 | YoY change: -3%
Neighborhood highlights: Access to green spaces, welcoming suburban atmosphere
Austin, one of Chicago’s largest and best neighborhoods, is rich in architecture and green spaces. Columbus Park, a National Historic Landmark, has a golf course, tennis courts, and walking paths. The neighborhood features classic Chicago-style bungalows and affordable apartment rentals, making it a great option for renters who appreciate history and nature.
6. Bridgeport
Average 1-bedroom rent: $1,070 | YoY change: N/A
Average 2-bedroom rent: $1,500 | YoY change: -17%
Neighborhood highlights: Historic charm, close to Rate Field
Known for its historic charm and proximity to Rate Field, Bridgeport is a lively and affordable neighborhood on Chicago’s South Side. It also features an emerging art scene, with galleries like the Zhou B Art Center showcasing local talent. Bridgeport Coffee and Antique Taco are popular spots for dining, and renters can enjoy easy access to the Orange Line and downtown.
7. Loyola
Average 1-bedroom rent: $1,200 | YoY change: N/A
Average 2-bedroom rent: $1,450 | YoY change: N/A
Neighborhood highlights: Situated near Loyola University, lakeside living
Loyola, located near the university of the same name, is a bustling area with an energetic vibe. It’s located right along Lake Michigan, giving residents access to beautiful beaches like Hartigan Park Beach and beautiful walking paths along the shoreline. Coffee shops and study-friendly cafes like Metropolis Coffee add to its charm, and the Loyola Red Line station connects the area to downtown Chicago.
8. Albany Park
Average 1-bedroom rent: $1,300 | YoY change: 0%
Average 2-bedroom rent: $1,425 | YoY change: -32%
Neighborhood highlights: Culturally diverse area, great food scene, well-connected to downtown via the Brown Line.
Albany Park is celebrated for its multicultural atmosphere, with restaurants offering everything from Korean barbecue to Middle Eastern kebabs. Kedzie Avenue is a hotspot for authentic dining experiences, while residents can unwind at Ronan Park along the Chicago River. The neighborhood’s affordability, access to the CTA Brown Line, and unique mix of older apartments and updated rentals make it a top pick for renters.
9. Northwest Side
Average 1-bedroom rent: $1,315 | YoY change: 32%
Average 2-bedroom rent: $1,675 | YoY change: 5%
Neighborhood highlights: Residential charm, access to parks, and excellent public transit options
The Northwest Side is a sprawling area with a mix of residential neighborhoods and lively commercial strips. Renters here can enjoy scenic walking trails in the Cook County Forest Preserves or take a bike ride along the North Branch Trail. The area is also home to local gems like Superdawg, a retro drive-in hot dog stand, and neighborhood pubs that have been staples for decades. Affordable apartments and proximity to the CTA Blue Line make it an excellent choice for commuters.
Methodology: All neighborhoods listed are based on Chicago’s Rental Market Trends on Rent.com. Average rental data and annual change data are sourced from January 2025.
