Cheap Apartments for Rent in the Armour Square Neighborhood of Chicago, IL from $700 (85 Rentals)

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

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property at 264 W 26th St

264 W 26th St

ChicagoIL60616

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property at 455 W 37th St

455 W 37th St

ChicagoIL60609

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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 4720 S Drexel Blvd priced from $970. Lake Meadows Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $975. Here are the most affordable Armour Square apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
4720 S Drexel BlvdStudio ApartmentStudio,1BA$970
Lake Meadows Apartmentslakem4-0b1aStudio,1BA$975
2423 State StreetPrivate Bedroom in Shared 4 Bed 3 Bath - A4BR,3BA$1,019
4721 S. Ellis Avenueells0bBStudio,1BA$1,025
Lake Grove Village1B1BR,1BA$1,100
Prairie ShoresClassic StudioStudio,1BA$1,123
561 W 18th StGarden Apartment Util Included 1bd 1 bath1BR,1BA$1,150
4455 S. Greenwood Avenue4455-0bAStudio,1BA$1,195
Mccormick ColivingPrivate Bedroom in Shared 4 Bed 3 Bath (E)4BR,3BA$1,255
Woodlawn Terracewdlw1bD1BR,1BA$1,375

Best Value Apartments for Rent in Armour Square, IL

As of June 16, 2025 the best value apartment in the Armour Square area is the $1.62 price per square foot 4541 S Forrestville Ave Model at 4541 S Forrestville Ave, Unit 1 in the in the Armour Square neighborhood starting from $3,400. The second greatest value Armour Square apartment is the 1034 W 20th Pl Model at 1034 W 20th Pl, Unit 3 starting at $2,900 with a $1.45 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.
4541 S Forrestville Ave, Unit 14541 S Forrestville Ave3BR,3BA$1.62
1034 W 20th Pl, Unit 31034 W 20th Pl2BR,1.5BA$1.45
3744 S Parnell Ave, Unit 13744 S Parnell Ave2BR,2BA$1.50
4317 S Forrestville Ave, Unit Apartment Two4317 S Forrestville Ave3BR,2BA$1.82
3146 S Union Ave, Unit 33146 S Union Ave3BR,1BA$1.22
2943 S Canal St, Unit 22943 S Canal St1BR,1BA$1.50
925 East 46th Street925ea2b32BR,1BA$1.69
240 W 24th St, Unit 2F240 W 24th St2BR,1BA$1.82
Lake Grove Village1A1BR,1BA$1.78
4720 S Drexel BlvdStudio ApartmentStudio ,1BA$1.75

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Armour Square, Chicago, IL

Ranked #46

Among neighborhoods in Chicago, IL 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 $1,375.

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 $2,495.

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 31 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 $401 which is $2,094 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.

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

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

Written by: Nicole Harms

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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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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.