Moving into the city may seem impossible if you’re on a budget, but there are many great neighborhoods you may not even know about with cheap apartments and homes. Forget paying half your monthly income just to afford a nice place when you can live fairly inexpensively in these communities.
As the third largest city in the nation, Chicago is actually relatively cheap compared to other major metropolitan cities, sitting at tenth most expensive overall.One of the most spendy parts of living in a large city is the transportation cost to get around, so accessibility to Metra stations and bus lines can make a huge difference when you’re working to save money, so many of the neighborhoods included here have kept that in mind!
- Edgewater
Wikimedia Commons/Alanscottwalker Located on the north side of Chicago, this neighborhood is great because it is close to the lake, yet still remains affordable. It is known for its beautiful streets in historic districts, known as Lakewood Balmoral and Bryn Mawr. Situated off the Red Line, residents find it easy to get to nearby neighborhoods and the Loop. It is full of great restaurants and a diverse community of people with different ages and ethnicities.
- Hyde Park
Flickr/Clarice Barbato-Dunn Also along Lake Michigan, this community is on the south side and is home to the University of Chicago. It is mostly made up of student housing near campus; however, it becomes more diverse in culture and age demographic as you get further away from the college. There are two Metra stops towards the lake and a Red/Green Line stop just across Washington Park.
- East Garfield Park
Flickr/Teemu008 Named after one of the most impressive conservatories in the United States, this cheap neighborhood is on the west side of downtown. It is popular for the Garfield Park Conservatory, which is a free greenhouse with themed rooms for desert plants, ferns, and more. Residents enjoy the wide streets and being able to access the Green and Blues Lines.
- Rogers Park
Wikimedia Commons/Gerald Farinas Located just off the Red Line on the north side of the city, this is one of most diverse neighborhoods we have due to the low cost of living. It is also home to Loyola University and situated on the lake, making it a very youthful neighborhood. Additionally, some of the best bars and cheap burger joints in the city can be found here.
- Pullman
Flickr/Josh Koonce Situated on the south side of the city, this community is home to a historic district that is now a Chicago Landmark. Residents and visitors can take walking tours to view the beautiful homes and numerous old buildings that house hotels, factories, and places of worship. There are also two Metra stations in the neighborhood.
- Little Village/South Lawndale
Wikimedia Commons/Plij1 This west side neighborhood is home to an immigrant community, particularly Hispanic families, and is known as the “Mexico of the Midwest.” It was industrialized in the 1900s and attracted many workers for jobs. Fun fact: it is home to the second highest grossing shopping district in Chicago!
- Hermosa
Wikimedia Commons/Colin J Bird Meaning “beautiful,” this is the birthplace of Walt Disney and is one of the most densely populated neighborhoods in the city. Situated on the northwest side, it boasts a diverse cultural community.
- Beverly
Wikimedia Commons/Burnhamandroot Best known for its beautiful, historic homes, this budget-friendly neighborhood is quiet and mostly inhabited by families. It contains many Metra stations and bus stops, and it’s home to amazing burger and ice cream joints as well as several outstanding Irish pubs.
- Humboldt Park
Wikimedia Commons/Steven Kevil Get used to relying on the bus in this neighborhood, which gets its namesake from a large nearby park. It contains many historic houses and is primarily a working-class neighborhood. The best parts are the cheap restaurants and bars serving a diverse range of comfort and soul food.
- Irving Park
Wikimedia Commons/Tripp With several Blue Lines stops, this northwest neighborhood makes it easy to get around. It lines up with part of the Chicago River and has a wealth of gorgeous bungalows and farmhouses, as well as an array of Queen Anne, Victorian, and Italianate-style homes.
- Uptown
Wikimedia Commons/Zagalejo Known for its incredible architecture and old theatres, this neighborhood is on the north side in Chicago’s old entertainment district from the 1920s. Today it is home to a large Vietnamese population as well as many young adults just starting out in life. It has several Red Line stops and is home to many lovely restaurants, bars, and bakeries.
- North Park
Wikimedia Commons/Túrelio Though the nearest train is in a nearby neighborhood, this is a beautiful community in which to live. It is bordered on two sides by the Chicago River and is home to a diverse cultural population. The community gets its namesake from North Park University, and it also contains several playgrounds, two large cemeteries, and a forest preserve.
- Chatham
Wikipedia/Thshriver Home to former Senator Roland Burris, this quiet and beautiful neighborhood was originally settled by immigrant Europeans looking for factory jobs. The old commercial buildings are now historic remains. Located on the city’s south side, residents use the Metra to get around.
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Wikimedia Commons/Alanscottwalker
Located on the north side of Chicago, this neighborhood is great because it is close to the lake, yet still remains affordable. It is known for its beautiful streets in historic districts, known as Lakewood Balmoral and Bryn Mawr. Situated off the Red Line, residents find it easy to get to nearby neighborhoods and the Loop. It is full of great restaurants and a diverse community of people with different ages and ethnicities.
Flickr/Clarice Barbato-Dunn
Also along Lake Michigan, this community is on the south side and is home to the University of Chicago. It is mostly made up of student housing near campus; however, it becomes more diverse in culture and age demographic as you get further away from the college. There are two Metra stops towards the lake and a Red/Green Line stop just across Washington Park.
Flickr/Teemu008
Named after one of the most impressive conservatories in the United States, this cheap neighborhood is on the west side of downtown. It is popular for the Garfield Park Conservatory, which is a free greenhouse with themed rooms for desert plants, ferns, and more. Residents enjoy the wide streets and being able to access the Green and Blues Lines.
Wikimedia Commons/Gerald Farinas
Located just off the Red Line on the north side of the city, this is one of most diverse neighborhoods we have due to the low cost of living. It is also home to Loyola University and situated on the lake, making it a very youthful neighborhood. Additionally, some of the best bars and cheap burger joints in the city can be found here.
Flickr/Josh Koonce
Situated on the south side of the city, this community is home to a historic district that is now a Chicago Landmark. Residents and visitors can take walking tours to view the beautiful homes and numerous old buildings that house hotels, factories, and places of worship. There are also two Metra stations in the neighborhood.
Wikimedia Commons/Plij1
This west side neighborhood is home to an immigrant community, particularly Hispanic families, and is known as the “Mexico of the Midwest.” It was industrialized in the 1900s and attracted many workers for jobs. Fun fact: it is home to the second highest grossing shopping district in Chicago!
Wikimedia Commons/Colin J Bird
Meaning “beautiful,” this is the birthplace of Walt Disney and is one of the most densely populated neighborhoods in the city. Situated on the northwest side, it boasts a diverse cultural community.
Wikimedia Commons/Burnhamandroot
Best known for its beautiful, historic homes, this budget-friendly neighborhood is quiet and mostly inhabited by families. It contains many Metra stations and bus stops, and it’s home to amazing burger and ice cream joints as well as several outstanding Irish pubs.
Wikimedia Commons/Steven Kevil
Get used to relying on the bus in this neighborhood, which gets its namesake from a large nearby park. It contains many historic houses and is primarily a working-class neighborhood. The best parts are the cheap restaurants and bars serving a diverse range of comfort and soul food.
Wikimedia Commons/Tripp
With several Blue Lines stops, this northwest neighborhood makes it easy to get around. It lines up with part of the Chicago River and has a wealth of gorgeous bungalows and farmhouses, as well as an array of Queen Anne, Victorian, and Italianate-style homes.
Wikimedia Commons/Zagalejo
Known for its incredible architecture and old theatres, this neighborhood is on the north side in Chicago’s old entertainment district from the 1920s. Today it is home to a large Vietnamese population as well as many young adults just starting out in life. It has several Red Line stops and is home to many lovely restaurants, bars, and bakeries.
Wikimedia Commons/Túrelio
Though the nearest train is in a nearby neighborhood, this is a beautiful community in which to live. It is bordered on two sides by the Chicago River and is home to a diverse cultural population. The community gets its namesake from North Park University, and it also contains several playgrounds, two large cemeteries, and a forest preserve.
Wikipedia/Thshriver
Home to former Senator Roland Burris, this quiet and beautiful neighborhood was originally settled by immigrant Europeans looking for factory jobs. The old commercial buildings are now historic remains. Located on the city’s south side, residents use the Metra to get around.
Do you live in one of these great neighborhoods? Tell us your favorite thing about it!
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