Finding Cheap Apartments in Chicago Under $700: A Guide for Budget-Conscious Renters
Chicago, the Windy City, is a vibrant metropolis known for its rich history, world-class museums, diverse neighborhoods, and bustling nightlife. However, its cost of living, especially housing, can be daunting, particularly for those on a budget.
While finding a spacious luxury apartment under $700 might be a tall order, there are still affordable options available in Chicago. With some research and flexibility, you can secure a decent place to live without breaking the bank.
Here's a guide to help you navigate the Chicago rental market and find cheap apartments under $700:
1. Location, Location, Location:
The key to finding a cheap apartment in Chicago is understanding the city's neighborhoods and their associated costs. While downtown and popular areas like Lincoln Park and Wicker Park tend to be more expensive, there are still affordable pockets within these neighborhoods.
Here are some neighborhoods to consider:
- West Loop: This industrial-chic area offers trendy restaurants and bars, but you can still find smaller studios or one-bedroom apartments under $700.
- Logan Square: This trendy neighborhood boasts an eclectic arts scene and thriving nightlife, but offers a range of affordable rental options, including studios and one-bedrooms.
- Avondale: This historic neighborhood with a growing food scene and family-friendly atmosphere features affordable one-bedroom apartments and studios.
- Pilsen: Known for its vibrant Mexican culture, art galleries, and diverse culinary scene, Pilsen offers some of the most affordable options in the city.
- Uptown: This lively neighborhood features a mix of historic architecture and trendy bars and restaurants. You can find studios and one-bedrooms under $700, particularly on the less-traveled streets.
2. Apartment Types and Features:
Studios and One-Bedrooms: While finding a two-bedroom apartment under $700 might be difficult, studios and one-bedroom apartments are more attainable.
Shared Housing: Consider sharing a two-bedroom or three-bedroom apartment with roommates. This option can significantly reduce your monthly rent.
Off-Street Parking: Parking in Chicago can be expensive, so consider finding an apartment without assigned parking. Street parking, while not always guaranteed, can be a cost-saving option.
Amenities: While desirable amenities like in-building laundry, gyms, or swimming pools are great, they often come with a higher price tag. Prioritize your needs and see if you can live without certain amenities.
3. Timing and Resources:
Seasonality: The rental market in Chicago fluctuates with the seasons. Consider searching for apartments in the off-season (fall and winter) when competition may be lower and landlords might be more willing to negotiate.
Utilize Online Resources: Explore online platforms like Craigslist, Zillow, Apartments.com, and Trulia for available listings. Many websites allow you to set filters for price and other criteria.
Reach Out to Real Estate Agents: Real estate agents can offer insider knowledge and access to listings not publicly available.
Word of Mouth: Talk to friends and colleagues who live in Chicago. They might have insights into available apartments or know of landlords with affordable options.
4. Negotiation and Flexibility:
Negotiate: Don't be afraid to negotiate with landlords. Offer to sign a longer lease or pay a slightly higher security deposit for a lower monthly rent.
Be Flexible: Consider less-popular apartment buildings or those situated on quieter streets to find more affordable options.
5. Budgeting and Financial Planning:
Create a Budget: Before starting your search, create a realistic budget that includes rent, utilities, transportation, and other expenses.
Consider Your Financial Situation: Make sure you can afford the rent and other expenses associated with the apartment, including security deposits and application fees.
Save for Rent: Set aside funds for a security deposit and first month's rent.
Finding a Cheap Apartment in Chicago Under $700:
Finding a cheap apartment in Chicago under $700 might require some compromise, but with the right approach and careful planning, it's possible to secure a decent and affordable place to live. Be patient, persistent, and don't be afraid to explore different options. The right apartment for you is out there!
