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Apartments under $500 for Rent in Chicago, IL

29 Rentals
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Living & Renting in Chicago

Chicago at a Glance

Average Rent

$1,989
(All bedrooms and property types)
Learn more about
Average Rent in Chicago
9

School Rating

out of 10 Rating
Learn more about
Schools in Chicago
66

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Chicago
77

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Chicago

Chicago, IL Apartments for Rent

Chicago stretches along the western shore of Lake Michigan as America's third-largest city, where the famous skyline rises from the lakefront and legendary architecture tells the story of a city rebuilt after the Great Chicago Fire of 1871. Those searching for apartments for rent in Chicago will discover a city that perfectly combines world-class cultural attractions with diverse neighborhoods, from the energetic Loop to the tree-lined streets of Lincoln Park, featuring everything from modern high-rises with stunning lake views to classic greystone walk-ups.

Renting in Chicago means easy access to the CTA's "L" trains and Metra commuter lines that connect you to jobs, universities, and entertainment throughout the metro area. The city's apartment communities sit near attractions like Millennium Park, Navy Pier, and the Magnificent Mile, while neighborhoods like Wicker Park, Lakeview, and Streeterville each bring their own personality and perks. With major highways like I-90 and I-290 making commutes a breeze, plus O'Hare International Airport for travel, Chicago offers both city living and career opportunities that make it perfect for renters looking for an affordable yet exciting metropolitan lifestyle.

Renting in Chicago

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Chicago

(For 1 bedroom apartments)

Getting Around Chicago

Transportation

83

Very Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
77

Very Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
66

Good Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

Public University
Private University
Public University
Public University
Private University
GreatSchools Rating
Northside College Preparatory High School

Public High School

Public
Grades 9-12
1,040 Students
GreatSchools Rating
Hancock College Preparatory High School

Public High School

Public
Grades 9-12
1,013 Students
GreatSchools Rating
Devry Advantage Academy High School

Public High School

Public
Grades 11-12
135 Students
GreatSchools Rating
Jones College Prep High School

Public High School

Public
Grades 9-12
1,941 Students
GreatSchools Rating
Von Steuben Metro Science High School

Public High School

Public
Grades 9-12
1,656 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

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