Dreaming of deep-dish pizza and exploring the Magnificent Mile but worried about the cost? You’re not alone. Many envision Chicago as an expensive metropolis, a city where affordable living is a distant memory. However, the truth is more nuanced. While some areas boast sky-high rents, a surprising number of apartments can be found for under $700, proving that the Windy City dream is attainable even on a tight budget.
The Reality of Affordable Housing in Chicago
Let’s be realistic. Chicago is a major city, and finding a truly luxurious apartment for under $700 is unlikely. The overall rental market reflects a range of options, with pricing heavily influenced by location, size, and amenities. When we talk about “cheap apartments,” we’re generally referring to studio apartments or smaller one-bedroom units, potentially located further from the downtown core. You might need to compromise on certain features or be prepared for a slightly longer commute. Finding these hidden gems requires effort and a strategic approach, but with the right knowledge, it’s absolutely possible. This article provides the tools and insights needed to navigate the Chicago rental landscape and discover affordable living options that fit your budget.
Neighborhoods Where Affordability Still Exists
While prices fluctuate across the city, certain neighborhoods consistently offer more affordable rental options. These areas might be further from the city center, but they often boast unique character, vibrant communities, and access to public transportation. Here are a few neighborhoods to focus your search on for cheap apartments in Chicago under $700:
Rogers Park
Rogers Park, located on the far north side of Chicago, is a diverse and eclectic neighborhood with a strong sense of community. Known for its beautiful beaches along Lake Michigan and its thriving arts scene, Rogers Park offers a more laid-back atmosphere than some of the more bustling areas of the city. Its distance from downtown contributes to its affordability, making it a popular choice for students, artists, and young professionals. You can often find studio apartments and smaller one-bedroom units within the $700 price range. While the commute to the Loop might be longer, the neighborhood is well-served by the CTA Red Line and various bus routes. Consider factors such as street parking availability and proximity to grocery stores when evaluating apartments in this area.
Albany Park
Albany Park, situated on the northwest side, is another excellent option for those seeking affordable housing. This culturally rich neighborhood boasts a diverse population and a strong sense of community. Known for its international cuisine and vibrant street life, Albany Park offers a unique and welcoming atmosphere. Like Rogers Park, its location further from the city center helps keep rental prices down. You can often find studio apartments and smaller one-bedroom units within your budget here. Access to the CTA Brown Line makes commuting relatively easy. Keep in mind that some areas within Albany Park may have limited parking options, so factor that into your decision-making process.
South Shore
South Shore, located on the south side of Chicago, is a historically significant neighborhood with beautiful architecture and stunning views of Lake Michigan. Home to the iconic South Shore Cultural Center, this area boasts a rich history and a vibrant arts scene. While facing challenges in recent years, South Shore is undergoing revitalization efforts and offers some of the most affordable rental options in the city. You can often find studio apartments and even some larger units within the $700 range. The neighborhood is served by the Metra Electric Line, providing direct access to downtown. However, consider factors such as local amenities and safety perceptions when searching for apartments in this area. Always research thoroughly and prioritize your personal safety.
Remember, these are just a few examples, and prices can change. Don’t limit your search to these areas alone. Explore other neighborhoods on the north, south, and west sides of Chicago. Diligence and persistence are key to finding the perfect affordable apartment.
Strategies for Finding Apartments Under $700
Finding cheap apartments in Chicago under $700 requires a strategic approach. It’s not enough to simply browse online listings. You need to be proactive, persistent, and creative in your search. Here are some key strategies to employ:
Leveraging Online Resources
The internet is your best friend in your apartment search. Utilize popular apartment search websites such as Zillow, Apartments.com, and Trulia. Craigslist can also be a valuable resource, but exercise caution and be wary of scams. Utilize the filters on these websites to narrow your search by price, location, and amenities. Don’t overlook smaller, more niche websites or the websites of local property management companies. These “hidden gem” sites may contain listings that aren’t widely advertised elsewhere. Set up alerts to receive notifications when new listings that meet your criteria become available. This will allow you to act quickly and schedule viewings before the competition does.
Networking and Offline Methods
Don’t underestimate the power of word-of-mouth. Let your friends, family, and colleagues know that you’re looking for an apartment. They may have connections or know of upcoming vacancies that aren’t yet advertised. Check local bulletin boards at community centers, libraries, and laundromats. Landlords sometimes post listings in these locations, especially for smaller or older buildings. Consider driving or walking around your target neighborhoods, looking for “For Rent” signs posted in windows or on buildings. This can be a particularly effective strategy for finding apartments that aren’t listed online.
Timing Your Search
The time of year can significantly impact rental prices. The off-season months, typically from late fall to early spring, often see lower prices due to decreased demand. Avoid searching during the peak summer months when competition is fierce and prices are higher. Be proactive and start your search well in advance of your desired move-in date. This will give you more time to explore different options and negotiate with landlords. Once you find a promising listing, be prepared to act quickly. The rental market in Chicago can move fast, and desirable apartments don’t stay vacant for long.
Negotiation Tactics
While negotiating rent in Chicago can be challenging, it’s not impossible. If the apartment has been vacant for a while or has some minor flaws, you may be able to negotiate a slightly lower rent. Offer to sign a longer lease, such as a year and a half or two years. Landlords often prefer longer leases as they provide more stability. Highlight your strengths as a tenant, such as good credit, a stable income, and a positive rental history. A landlord is more likely to be flexible with rent if they believe you’ll be a reliable and responsible tenant.
What to Look For (and Avoid) in a Cheap Apartment
Finding a cheap apartment doesn’t mean sacrificing your safety and well-being. It’s important to carefully evaluate potential apartments and look for essential amenities and red flags.
Prioritize apartments with essential safety features, such as working locks on all doors and windows, adequate lighting in hallways and common areas, and a secure entry system. Ensure that all appliances, such as the refrigerator, stove, and oven, are in good working order. Adequate heating and cooling are crucial for comfortable living in Chicago’s extreme climate. Be wary of apartments that show signs of pests, such as cockroaches or rodents. Look for signs of water damage, such as stains on walls or ceilings. A unresponsive or difficult landlord can make your renting experience miserable. Research the landlord or property management company online and read reviews from other tenants. Be cautious of hidden fees, such as application fees or move-in fees that aren’t clearly disclosed. Research the neighborhood’s crime statistics and talk to residents to get a sense of the area’s safety.
Always conduct a thorough inspection of the apartment before signing a lease. Carefully examine the walls, floors, and ceilings for any signs of damage. Test all appliances and fixtures to ensure they’re working properly. Ask the landlord about any upcoming repairs or maintenance. Take photos or videos of any existing damage to protect yourself from being held responsible for it later. Don’t rush the process. Take your time to carefully evaluate the apartment and make sure it meets your needs and expectations.
Budgeting and Financial Considerations
Rent is only one component of your housing expenses. It’s crucial to create a realistic budget that accounts for all associated costs.
Be prepared for upfront costs, including a security deposit, which is typically equal to one month’s rent, application fees, and the first month’s rent. Recurring expenses include utilities, such as electricity, gas, and water, internet and cable, transportation, and renters insurance. Transportation costs can vary depending on whether you rely on public transportation or own a car. Renters insurance is highly recommended to protect your belongings in case of fire, theft, or other damages. Factor in miscellaneous expenses, such as laundry, parking, and occasional repairs. Track your spending for a month or two to get a clear picture of your current financial habits. Identify areas where you can cut back to save money for housing. Creating a budget will help you ensure that you can afford all the costs associated with renting an apartment, not just the rent itself.
Conclusion
Finding cheap apartments in Chicago under $700 requires dedication, resourcefulness, and a willingness to compromise. By focusing on specific neighborhoods, leveraging online resources, networking with your contacts, and being strategic about timing, you can significantly increase your chances of success. Remember to carefully evaluate potential apartments, look for essential amenities, and create a realistic budget that accounts for all housing-related expenses. So, start your apartment search today, armed with the knowledge and strategies provided in this guide. With persistence and a little bit of luck, you can unlock your Chicago dream and find an affordable place to call home in the Windy City!
