Cheapest Neighborhoods in Chicago, IL
Some of the cheapest neighborhoods in Chicago are Calumet Heights, Far South Chicago, and Burnside. These neighborhoods offer some of the lowest rent prices in Chicago, making them ideal for renters on a budget. As of July 10, 2026, the average rent in Chicago is $2,057, which is 4.5% 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.
Calumet Heights
Average Rent
$932/Month
Year-Over-Year Rent Change
1.5%
Units Available
20 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Calumet Heights. The average rent is $932, compared to the city average of $2,057. Rent prices have increased by 1.5%. Calumet Heights is convenient to Rainbow Beach Dunes Natural Area, Chicago O'Hare International, and Bronzeville Children's Museum.
Far South Chicago
Average Rent
$966/Month
Year-Over-Year Rent Change
2.8%
Units Available
12 Rentals
Far South Chicago is an affordable neighborhood in Chicago with an average rent price of $966. Compare this to the city average of $2,057. In the past year, rent prices have increased by 2.8%. Far South Chicago provides easy access to University of Chicago, 87Th Street Station, and Stony Island Plaza.
Burnside
Average Rent
$975/Month
Year-Over-Year Rent Change
3%
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Burnside might be the perfect place! It has an average rent price of $975, while the city’s average stands at $2,057. In the last year, prices have decreased by 3%. Burnside is near 79Th Street Station, Richard J. Daley College, and University of Chicago.
Avalon Park
Average Rent
$996/Month
Year-Over-Year Rent Change
2.2%
Units Available
22 Rentals
Avalon Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Avalon Park is $996 while the city average is $2,057. This is a 2.2% difference from last year. Residents enjoy convenient access to 79Th Street Station, Chicago Midway International, and 87Th Street Station.
Roseland
Average Rent
$1,001/Month
Year-Over-Year Rent Change
0.2%
Units Available
12 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Roseland. The average rent is $1,001, compared to the city average of $2,057. Rent prices have increased by 0.2%. Roseland is convenient to Chicago O'Hare International, 87Th Street Station, and 69Th Street Station.
Chatham
Average Rent
$1,011/Month
Year-Over-Year Rent Change
2.3%
Units Available
89 Rentals
Chatham is an affordable neighborhood in Chicago with an average rent price of $1,011. Compare this to the city average of $2,057. In the past year, rent prices have increased by 2.3%. Chatham provides easy access to Foster Park, University of Chicago, and Hamilton Park.
Greater Grand Crossing
Average Rent
$1,011/Month
Year-Over-Year Rent Change
1.1%
Units Available
42 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Greater Grand Crossing might be the perfect place! It has an average rent price of $1,011, while the city’s average stands at $2,057. In the last year, prices have increased by 1.1%. Greater Grand Crossing is near University of Chicago, Cottage Grove Station, and 639-643 E 75th St.
Grand Crossing
Average Rent
$1,015/Month
Year-Over-Year Rent Change
1.7%
Units Available
12 Rentals
Grand Crossing is a top choice for budget-conscious renters for a variety of reasons. The average rent in Grand Crossing is $1,015 while the city average is $2,057. This is a 1.7% difference from last year. Residents enjoy convenient access to Midway Plaisance Park, 63Rd Street Station, and Avalon Park.
Englewood
Average Rent
$1,060/Month
Year-Over-Year Rent Change
1.6%
Units Available
31 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Englewood. The average rent is $1,060, compared to the city average of $2,057. Rent prices have increased by 1.6%. Englewood is convenient to Richard J. Daley College, Hamilton Park, and Ashland & 63Rd Street Station.
South Shore
Average Rent
$1,095/Month
Year-Over-Year Rent Change
2.7%
Units Available
166 Rentals
South Shore is an affordable neighborhood in Chicago with an average rent price of $1,095. Compare this to the city average of $2,057. In the past year, rent prices have increased by 2.7%. South Shore provides easy access to Chicago State University, Chicago Midway International, and Columbia College Chicago.
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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.