Apartments Under $500 in Chicago, IL

This month, the typical cost to rent a one-bedroom apartment in Chicago stands at $1,900, with the majority falling between $1,140 and $3,220. Out of the 25,083 one-bedroom apartments currently on the market in Chicago, 19 are priced below $500, accounting for 0% of the total available one-bedroom units in Chicago.

According to the chart above, as of May 2026, there are a total of 138 available apartments for rent under $500 in the Chicago, IL metro area. This includes the cities of Glen Ellyn, Glencoe, Bellwood, Glendale Heights, Glenview, Glenwood, Schaumburg, Bensenville, Schiller Park, Berkeley, East Hazel Crest, Niles, Berwyn, Justice, Chicago Heights, Chicago Ridge, Clarendon Hills, Bloomingdale, North Riverside, Northbrook, Vernon Hills, Blue Island, Prospect Heights, Elk Grove Village, Northlake, Matteson, Kildeer, Oak Brook, Oak Forest, Bolingbrook, Villa Park, Oak Lawn, Maywood, Oak Park, Oakbrook Terrace, Elmhurst, Skokie, Elmwood Park, La Grange, La Grange Park, Addison, Melrose Park, Hanover Park, Lake Bluff, Lake Forest, Warrenville, Brookfield, Evanston, Evergreen Park, River Forest, Harvey, Riverside, Harwood Heights, Riverwoods, Orland Hills, Orland Park, Lemont, West Chicago, Buffalo Grove, Arlington Heights, Palatine, Westchester, Highland Park, Stickney, Rolling Meadows, Burr Ridge, Romeoville, Palos Heights, Westmont, Flossmoor, Hillside, Palos Hills, Palos Park, Darien, Hinsdale, Lincolnshire, Lincolnwood, Wheaton, Forest Park, Wheeling, Hoffman Estates, Roselle, Streamwood, Lisle, Morton Grove, Park Forest, Homer Glen, Park Ridge, Homewood, Deerfield, Lockport, Mount Prospect, Willowbrook, Wilmette, Lombard, Des Plaines, Long Grove, Winfield, Winnetka, Carol Stream, Dolton, Bartlett, Naperville, Woodridge, Downers Grove, Worth, Tinley Park, Itasca, Hammond, Whiting, Dyer, East Chicago, Munster, Schererville, Griffith, Hazel Crest, Hodgkins, Highland, Alsip, Midlothian, Calumet City, Englewood, Rosemont, Sauk Village, Summit, Indianapolis, Burbank, Riverdale, Cicero, Lansing, Highwood, and Calumet Park. Prospective renters looking for affordable options in the area will find a variety of choices within this budget range. Be sure to check Rentable's listings regularly for the latest updates on available apartments in this price range.

City	Apartments Under $500 in May	M/M % Change
Chicago, IL	109	+0.91%
Arlington Heights, IL	2	+1.0%
Naperville, IL	2	+1.0%
Glenview, IL	1	+1.14%
Elmwood Park, IL	1	+1.0%
Palatine, IL	1	+1.0%
Wheaton, IL	1	+1.0%
Wheeling, IL	1	+1.0%
Woodridge, IL	1	+1.0%
Calumet City, IL	1	+1.0%

Available apartments under $500	8,638
Top amenities	On Site Laundry, Refrigerator, Hardwood Floors, Range / Oven, Microwave
Deals	30
Pet friendly	190
Utilities included	57
Furnished	25
Studio	72
1 Bedroom	78
2 Bedroom	90