Most Affordable Neighborhoods in Chicago, IL
Some of the cheapest neighborhoods in Chicago are Greater Grand Crossing, Englewood, and East Chatham. These neighborhoods offer some of the lowest rent prices in Chicago, making them ideal for renters on a budget. As of June 15, 2025, the average rent in Chicago is $1,964, which is 4.2% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Greater Grand Crossing
Average Rent
$1,025/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
59/100
Units Available
11 Rentals
Greater Grand Crossing is a top choice for budget-conscious renters for a variety of reasons. The average rent in Greater Grand Crossing is $1,025 while the city average is $1,964. This is a 1% difference from last year. Residents enjoy convenient access to University of Chicago, Richard J. Daley College, and Midway Plaisance Park. The neighborhood is considered walkable with a WalkScore® of 77.
Englewood
Average Rent
$1,147/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
62/100
Units Available
16 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Englewood. The average rent is $1,147, compared to the city average of $1,964. Rent prices have increased by 2.5%. Englewood is convenient to 63Rd, Gage Park, and Union Square. The community is somewhat walkable with a WalkScore® of 65.
East Chatham
Average Rent
$1,165/Month
TransitScore® Rating
60/100
Units Available
22 Rentals
East Chatham is an affordable neighborhood in Chicago with an average rent price of $1,165. Compare this to the city average of $1,964. East Chatham provides easy access to Hamilton Park, Richard J. Daley College, and Chatham Marketplace. It’s a walkable neighborhood with a WalkScore® of 85.
Chatham
Average Rent
$1,171/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
63/100
Units Available
30 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Chatham might be the perfect place! It has an average rent price of $1,171, while the city’s average stands at $1,964. In the last year, prices have increased by 4.3%. Chatham is near 87Th, 69Th, and Chicago Midway International.
Chatham Fields
Average Rent
$1,215/Month
TransitScore® Rating
64/100
Units Available
22 Rentals
Chatham Fields is a top choice for budget-conscious renters for a variety of reasons. The average rent in Chatham Fields is $1,215 while the city average is $1,964. Residents enjoy convenient access to Chicago O'Hare International, King Drive, and Chicago State University. The neighborhood is considered walkable with a WalkScore® of 86.
South Shore
Average Rent
$1,222/Month
Year-Over-Year Rent Change
2%
TransitScore® Rating
67/100
Units Available
73 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out South Shore. The average rent is $1,222, compared to the city average of $1,964. Rent prices have increased by 2%. South Shore is convenient to Paxton Place, 79Th, and Columbia College Chicago. The community is walkable with a WalkScore® of 75.
Jackson Park Highlands
Average Rent
$1,397/Month
TransitScore® Rating
68/100
Units Available
15 Rentals
Jackson Park Highlands is an affordable neighborhood in Chicago with an average rent price of $1,397. Compare this to the city average of $1,964. Jackson Park Highlands provides easy access to 79Th, Garfield-Green, and Chicago State University. It’s a walkable neighborhood with a WalkScore® of 78.
Gresham
Average Rent
$1,401/Month
Year-Over-Year Rent Change
3.8%
TransitScore® Rating
61/100
Units Available
19 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Gresham might be the perfect place! It has an average rent price of $1,401, while the city’s average stands at $1,964. In the last year, prices have increased by 3.8%. Gresham is near University of Chicago, Hamilton Park, and 69Th.
South Jackson Park
Average Rent
$1,435/Month
TransitScore® Rating
69/100
Units Available
13 Rentals
South Jackson Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in South Jackson Park is $1,435 while the city average is $1,964. Residents enjoy convenient access to Paxton Place, 63Rd, and Museum of Science and Industry. The neighborhood is considered somewhat walkable with a WalkScore® of 62.
Heart of Chicago
Average Rent
$1,452/Month
TransitScore® Rating
65/100
Units Available
14 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Heart of Chicago. The average rent is $1,452, compared to the city average of $1,964. Heart of Chicago is convenient to California-Cermak, Cermak Plaza, and Rush University. The community is walkable with a WalkScore® of 89.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.