The cheapest neighborhoods in Chicago are spread out in all directions from downtown. Many are even right on Lake Michigan and most have all the conveniences you’ll love — like great shopping, easy access to transit and delectable eats.
What is the average rent in Chicago?
The average rent price in Chicago for a two-bedroom apartment is $2,472. This average takes into account all neighborhoods in the city, from the most expensive to the most affordable neighborhoods.
The 10 cheapest neighborhoods in Chicago
Is it your dream to live in the Windy City but you aren’t sure if it’s in your budget? Thankfully, there are plenty of cheap neighborhoods in Chicago — and therefore, affordable apartments for rent. Below are some of the best and most affordable neighborhoods in the city.
10. North Kenwood
Source: Rent./1126 E. 47th St.
- Average 2-BR rent: $2,141
- Rent change since 2021: +11.67%
North Kenwood is highly walkable, bike-friendly neighborhood just south of the Loop. The neighborhood borders Lake Michigan, 43rd Street, 51st Street and Cottage Grove Avenue. The neighborhood is extremely accessible by public transit — both buses and trains — and most residents feel that for life within North Kenwood, vehicles aren’t required.
Former U.S. President Barack Obama once lived in North Kenwood and the neighborhood is now home to several landmarks regarding his presence in the neighborhood.
The neighborhood is primarily residential with clean streets, quiet nights and convenience to shopping, parks, groceries, schools and more. Many consider the neighborhood particularly friendly and the architecture and restaurants are thriving and varied with both old and new in the area.
9. Park West
- Average 2-BR rent: $2,130
- Rent change since 2021: +3.16%
It’s always amazing when an old, beautiful neighborhood is one of the most affordable neighborhoods in Chicago — and Park West is one of those. The neighborhood is known for its beautiful, old architecture, proximity to Downtown and the lakefront, fabulous shopping and delicious eats.
Park West is safe, clean, comfortable and loaded with historical sites. You can walk, bike or take public transit easily here and get to just about anywhere in the city fairly quickly without the need for a car.
Park West is near Lincoln Park, near the lake and has tons of coffee shops, pubs, a few theaters and fitness centers. Additionally, you’ll find the neighborhood well-lit and pet friendly.
8. Uptown
- Average 2-BR rent: $2,130
- Rent change since 2021: +3.82%
Uptown is one of the most walkable neighborhoods in Chicago. With restaurants, chain stores, boutiques, cafés, coffee shops and so much more all over the whole neighborhood, it’s a great place for folks looking for an active, energetic neighborhood.
The neighborhood is highly bikeable and transit is available throughout Uptown – both buses and the El. Uptown is near the lake, has plenty of parks and schools for the kids and it’s pet-friendly. There are several fitness centers and clubs around, too, and lots of nightlife. Plus, Uptown is close to Boys Town where there’s even more nightlife and restaurants within walking distance.
7. Bryn Mawr Historic District
Source: Rent./5536 North Sheridan Rd.
- Average 2-BR rent: $2,002
- Rent change since 2021: -4.25%
The Bryn Mawr Historic District is north of Downtown, right near the lake. The beautiful neighborhood has historic sites, gorgeous old buildings (including the famous Pink Hotel (Belle Shore Apartment Hotel), Manor House and The Renaissance.
The neighborhood is exceptionally bikeable and walkable, has loads of easy access to both trains and buses, is at the north end of Lincoln Park and has many other small parks. Bryn Mawr Historic District is also at top end of the Lakefront Trail and has many spots for walking, biking and outdoor activities along the way.
There are plenty of local and chain restaurants in the neighborhood, as well as shopping, groceries, cafés, boutiques, bars and a few theaters.
6. Clarendon Park
- Average 2-BR rent: $1,925
- Rent change since 2021: +9.35%
Just south of Uptown, on the lake near Lincoln Park, Clarendon Park is a surprisingly affordable neighborhood so close to Downtown and many of the most expensive neighborhoods in the city.
The park of the same name centers around Clarendon Park and is close to Chicago’s famous Lincoln Park and Zoo. The neighborhood is walkable, bikeable, close to transit and has a lot of nightlife, shopping, dining, coffee shops and other parks.
Clarendon Park is a great location for folks looking for a family-friendly, pet-friendly neighborhood north of downtown but easily accessible for all ages to enjoy the nearby amenities.
5. Buena Park
- Average 2-BR rent: $1,886
- Rent change since 2021: +13.48%
Buena Park is a smaller neighborhood tucked into the larger, more familiar neighborhoods of Lakeview and Uptown. The small neighborhood is right on the lake and is ideally located and settled for families and young professionals alike, looking for quality housing, casual or formal dining, access to Lincoln Park and the waterfront and nightlife.
There are several smaller parks within the neighborhood, delicatessens, bars and pubs, restaurants, chain stores and boutiques and plenty of activities to keep the family occupied year-round. Plus, Buena Park is easily accessible by bike, train or walking and rightfully ranks as a highly walkable, safe neighborhood.
4. Far North Side
- Average 2-BR rent: $1,874
- Rent change since 2021: +0.02%
Far North Side in Chicago encompasses several smaller neighborhoods. Within its bounds, you’ll find some of most popular neighborhoods like Andersonville, Little India, West Ridge, Sheridan Park, Budlong Woods, Lincoln Square, Albany Park and North Park, among others.
Apartments throughout Far North Side vary in price but overall generally are reasonably priced for one- and two-bedrooms.
Most parts of Far North Side are highly walkable, bikeable, easily accessible to both buses and trains and has loads off boutique shopping, cozy dining establishments, trendy bars, chain restaurants and stores, Chicago-famous cuisine and more nightlife than you could hope for in such a small area.
Additionally, you’ll find many pockets of distinct ethnic groups, like those in Little India, along Lawrence Avenue in Albany Park (Latinx), pockets of Indian, Pakistani, Caribbean, Dutch, various African communities and many others.
Residents generally report feeling safe, comfortable and happy in the area and find the whole region easy to traverse whether by car or foot, though traffic on main roads will generally be “typical city” traffic during peak hours.
3. Rogers Park
- Average 2-BR rent: $1,515
- Rent change since 2021: -10.84%
The northernmost neighborhood in Chicago along the lake, Rogers Park is one of the most affordable neighborhoods in Chicago. With parks aplenty, lots of eating establishments, gatherings of distinct ethnic and religious groups (and all the glorious food connected to the cultures!), the area is diverse, comfortable and easy to fit into whatever your family demographic.
If you’re right along the lake in Rogers Park, there’s plenty of transit to connect with. Otherwise, the neighborhood is reasonably walkable and bikeable, but you’ll primarily rely on buses or driving for getting around.
There are lots of theaters and art all over Rogers Park, along with beach access, tons of ethnic groceries and loads of coffee shops from many cultural backgrounds. Overall, Rogers Park is one of the most diverse neighborhoods in the city.
2. South Shore
- Average 2-BR rent: $1,473
- Rent change since 2021: +0.20%
South Shore is close to South Loop, on the lake. Many folks have been surprised to learn that the many beautifully refurbished properties in recent years are among some of the most affordable options in one of the cheapest neighborhoods in Chicago. Even many high rises here are comfortably affordable on many budgets.
The neighborhood is known for its parks, cozy bungalows, high-rise apartments, beaches, old mansions, Jackson Harbor, and public art and art and culture centers.
In the neighborhood, you’ll also find beautiful architecture, unique refurbishes and upcycles of old buildings, cafes, bars and other nightlife. Ultimately, the neighborhood has plenty to do for all ages, while being reasonably walkable, bikeable and accessible to public transit.
1. Austin
Source: Rent./200 Central
- Average 2-BR rent: $1,035
- Rent change since 2021: +3.00%
Directly west of Downtown — as far west as you can go within city limits here — you’ll find Austin, and the cheapest neighborhood in Chicago. The neighborhood is the third-largest neighborhood by population and borders the suburbs of Cicero and Oak Park, two historically rich areas around the city.
Within Austin, you’ll find unique historic buildings, as well, including the Laramie State Bank Building, the beautiful F.R. Shrock House and the Seth Warner House.
Austin is primarily residential with some conveniences within, including plenty of restaurants, hotels, schools, medical facilities, one of the few Walmart Super Centers within city limits and parks, including the reasonably large Columbus Park on the south end of the neighborhood.
Austin is fairly walkable and bike-friendly, with moderate access to public transport via buses and the Green Line at the south end of the neighborhood. You’ll also find reasonable nightlife and shopping here.
The most expensive neighborhood in Chicago
For those familiar with the Magnificent Mile and all things Gold Coast, you might be surprised to learn that the most expensive neighborhood in Chicago is actually Central Station. The neighborhood has been an intentional residential development in the South Loop neighborhood covering 80 acres and encompassing the former railyards.
Here you’ll find the average rental price for a two-bedroom is significantly higher than any of the other neighborhoods we’ve looked at, at $4,851 per month, an increase of only 1.67 percent from last year.
As you would probably guess, this part of Chicago is extremely walkable and transit-friendly, though being one of the busiest parts of town, many folks would not opt to bike here due to heavy traffic.
You’ll find fine dining, high-end bars, niche grocers, exclusive clubs, parks and much more in this neighborhood. Even if the price range for everyday life here is out of reach, it’s a great place to visit, walk around and enjoy some distinctly Chicago culture.
Find an affordable neighborhood for your next apartment
As you look for the best apartments for rent in Chicago, whether in the cheapest neighborhoods in Chicago or the most expensive, you’ll find there’s always plenty to do, wonderful eats, fantastic shows at the 250-plus theaters across the city and beautiful parks to enjoy.
