Best Affordable Neighborhoods in Chicago, IL
Some of the cheapest neighborhoods in Chicago are Far South Chicago, Burnside, and Calumet Heights. These neighborhoods offer some of the lowest rent prices in Chicago, making them ideal for renters on a budget. As of May 23, 2026, the average rent in Chicago is $2,046, which is 3.5% 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.
Far South Chicago
Average Rent
$975/Month
Year-Over-Year Rent Change
2.2%
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Far South Chicago might be the perfect place! It has an average rent price of $975, while the city’s average stands at $2,046. In the last year, prices have increased by 2.2%. Far South Chicago is near Cottage Grove Station, Saint Xavier University, and South Suburban College.
Burnside
Average Rent
$978/Month
Year-Over-Year Rent Change
1.3%
Units Available
18 Rentals
Burnside is a top choice for budget-conscious renters for a variety of reasons. The average rent in Burnside is $978 while the city average is $2,046. This is a -1.3% difference from last year. Residents enjoy convenient access to Chicago O'Hare International, University of Chicago, and Cottage Grove Station.
Calumet Heights
Average Rent
$981/Month
Year-Over-Year Rent Change
2.2%
Units Available
17 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Calumet Heights. The average rent is $981, compared to the city average of $2,046. Rent prices have increased by 2.2%. Calumet Heights is convenient to Chicago State University, Bronzeville Children's Museum, and 69Th Street Station.
Marquette Park
Average Rent
$1,000/Month
Year-Over-Year Rent Change
3.2%
Units Available
13 Rentals
Marquette Park is an affordable neighborhood in Chicago with an average rent price of $1,000. Compare this to the city average of $2,046. In the past year, rent prices have increased by 3.2%. Marquette Park provides easy access to Chicago O'Hare International, Midway Terminal, and Dan Ryan Woods.
Grand Crossing
Average Rent
$1,003/Month
Year-Over-Year Rent Change
2.2%
Units Available
17 Rentals
If you’re looking for a great, affordable neighborhood in Chicago, Grand Crossing might be the perfect place! It has an average rent price of $1,003, while the city’s average stands at $2,046. In the last year, prices have increased by 2.2%. Grand Crossing is near Richard J. Daley College, South Shore Cultural Center, and Southeast Food & Liquor.
Avalon Park
Average Rent
$1,003/Month
Year-Over-Year Rent Change
3%
Units Available
29 Rentals
Avalon Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Avalon Park is $1,003 while the city average is $2,046. This is a 3% difference from last year. Residents enjoy convenient access to Chicago Midway International, University of Chicago, and Richard J. Daley College.
Greater Grand Crossing
Average Rent
$1,015/Month
Year-Over-Year Rent Change
0.7%
Units Available
56 Rentals
When you’re looking for a great Chicago neighborhood on a budget, check out Greater Grand Crossing. The average rent is $1,015, compared to the city average of $2,046. Rent prices have increased by 0.7%. Greater Grand Crossing is convenient to Hamilton Park, University of Chicago, and King Drive Station.
Chatham
Average Rent
$1,016/Month
Year-Over-Year Rent Change
4.2%
Units Available
112 Rentals
Chatham is an affordable neighborhood in Chicago with an average rent price of $1,016. Compare this to the city average of $2,046. In the past year, rent prices have increased by 4.2%. Chatham provides easy access to Chicago O'Hare International, Hamilton Park, and 87Th Street Station.
Gresham
Average Rent
$1,026/Month
Year-Over-Year Rent Change
2%
Units Available
60 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 $1,026, while the city’s average stands at $2,046. In the last year, prices have increased by 2%. Gresham is near Hamilton Park, Foster Park, and Winchester Place.
Englewood
Average Rent
$1,064/Month
Year-Over-Year Rent Change
2.2%
Units Available
32 Rentals
Englewood is a top choice for budget-conscious renters for a variety of reasons. The average rent in Englewood is $1,064 while the city average is $2,046. This is a 2.2% difference from last year. Residents enjoy convenient access to Englewood Square, Chicago Midway International, and Gage Park.
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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.