Cheap Apartments for Rent in the Armour Square Neighborhood of Chicago, IL from $700 (84 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Armour Square area of Chicago.

property at 1243 W 31st St

1243 W 31st St

ChicagoIL60608
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Hyde Park / Kenwood
Studio Apartments

Hyde Park / Kenwood

4400-4404 S Drexel BlvdChicago, IL 60653
  • Utilities Included
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Lake Park Manor
2 to 4 Bedroom Apartments

Lake Park Manor

3601-3645 S Lake Park AveChicago, IL 60653
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Drexel Investments, LLC
Studio to 2 Bedroom Apartments

Drexel Investments, LLC

4742-4748 S Drexel BlvdChicago, IL 60615
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Armour Square, Chicago, IL Local Guide

Cheapest Available Armour Square Apartments for Rent

 

The cheapest available apartment rental in the Armour Square area of Chicago, IL is a Studio unit found at Prairie Shores priced from $1,004. 2423 State Street has the second lowest priced unit, which is a 4 Beds apartment currently listed from $1,019. Here are the most affordable Armour Square apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Prairie ShoresClassic StudioStudio,1BA$1,004
2423 State StreetPrivate Bedroom in Shared 4 Bed 3 Bath - A4BR,3BA$1,019
4721 S. Ellis Avenueells0bdStudio,1BA$1,025
Lake Meadows Apartmentslakem5-0b1aStudio,1BA$1,050
4720 S Drexel BlvdStudio ApartmentStudio,1BA$1,095
Lake Grove Village1B1BR,1BA$1,100
Mccormick ColivingPrivate Bedroom in Shared 4 Bed 3 Bath (D)4BR,3BA$1,108
Woodlawn Terracewdlw0bbrStudio,1BA$1,125
4455 S. Greenwood Avenue4455-0bAStudio,1BA$1,195

Best Value Apartments for Rent in Armour Square, IL

As of August 02, 2025 the best value apartment in the Armour Square area is the $0.32 price per square foot 648 W 16th St Model at 648 W 16th St, Unit #1 in the in the South Loop neighborhood starting from $3,200. The second greatest value Armour Square apartment is the 1907 S Racine Ave Model at 1907 S Racine Ave, Unit # 02F starting at $2,550 with a $0.26 price per square foot in the University Village neighborhood. Here is today’s list of the best values for Armour Square apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
648 W 16th St, Unit #1648 W 16th St3BR,2BA$0.32
1907 S Racine Ave, Unit # 02F1907 S Racine Ave2BR,2BA$0.26
3935 S Wells St, Unit 13935 S Wells St5BR,4BA$1.67
4339 S Evans Ave, Unit Unit24339 S Evans Ave3BR,2.5BA$1.20
1643 S Throop St, Unit 3R1643 S Throop St3BR,1BA$1.72
830 W 37th St, Unit 830 W. 37th Street Fl 2830 W 37th St2BR,1.5BA$1.60
2893 S Archer Ave, Unit 32893 S Archer Ave3BR,1BA$1.49
2926 S Wallace St, Unit 3R2926 S Wallace St2BR,1BA$1.32
1948 S Desplaines St, Unit 11948 S Desplaines St2BR,1BA$1.68
2345 W 24th St, Unit #12345 W 24th St2BR,1BA$1.67

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Pet Friendly Lifestyle
Armour Square, Chicago, IL

Ranked #53

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Armour Square, Chicago, IL

School data provided by Great Schools

Getting Around the Armour Square Neighborhood in Chicago, IL

Walk Score®

85 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

87 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

70 / 100

Excellent Transit

Transit is convenient for most trips

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Armour Square Apartments

What is a cheap apartment in Armour Square?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Armour Square is under $1,195.

What is the price of a cheap apartment in Armour Square?

The cheapest apartment in Armour Square is Lake Grove Village which is listed at $1,100, while the average apartment in Armour Square costs $8,520.

What types of apartments are the cheapest in Armour Square?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 30 regular apartments in Armour Square that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Armour Square?

Cheap apartments in Armour Square have an average cost of $342 which is $8,178 cheaper than the average rent for all rentals in Armour Square.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

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I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.