Cheap Apartments for Rent in the Far South Chicago Neighborhood of Chicago, IL from $500 (38 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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11000 S Michigan Ave
Studio to 2 Bedroom Apartments

11000 S Michigan Ave

11000 S Michigan AveChicago, IL 60628
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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10901 S Vernon
1 to 3 Bedroom Apartments

10901 S Vernon

10901-10911 S Vernon AveChicago, IL 60628
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Baric Commons
1 to 3 Bedroom Apartments

Baric Commons

232 E 121st PlzChicago, IL 60628
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222 E 109th
Studio to 2 Bedroom Apartments

222 E 109th

10848-10852 S Prairie AveChicago, IL 60628
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11111 S Vernon
Studio to 2 Bedroom Apartments

11111 S Vernon

11111-11115 S Vernon AveChicago, IL 60628
  • Utilities Included
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410 E 107th St
1 to 2 Bedroom Apartments

410 E 107th St

410 E 107th StChicago, IL 60628
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11214-18 S Indiana
Studio to 2 Bedroom Apartments

11214-18 S Indiana

11214-18 S Indiana AveChicago, IL 60628
  • Utilities Included

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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11250 S Indiana
1 to 3 Bedroom Apartments

11250 S Indiana

11250-11256 S Indiana AveChicago, IL 60628
  • Utilities Included
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10901 S Vernon
1 to 3 Bedroom Apartments

10901 S Vernon

10901 S Vernon AveChicago, IL 60628
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10904 S Avenue D
Studio to 2 Bedroom Apartments

10904 S Avenue D

10904 S Avenue DChicago, IL 60617
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10719 S Calumet Ave
Studio to 3 Bedroom Apartments

10719 S Calumet Ave

10719 S Calumet AveChicago, IL 60628

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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13256 S Prairie Ave
1 to 4 Bedroom Apartments

13256 S Prairie Ave

13256 S Prairie AveRiverdale, IL 60827
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10 W 137th St
1 to 3 Bedroom Apartments

10 W 137th St

10 W 137th StRiverdale, IL 60827

Far South Chicago, Chicago, IL Local Guide

Cheapest Available Far South Chicago Apartments for Rent

 

The cheapest available apartment rental in the Far South Chicago area of Chicago, IL is a 1 Bed unit found at 12157 S Michigan Ave priced from $850. 11111 S Vernon has the second lowest priced unit, which is a 1 Bed apartment currently listed from $960. Here are the most affordable Far South Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
12157 S Michigan Ave1 Bedroom Studio1BR,1BA$850
11111 S Vernon1 Bedroom 1 Bath Apartment1BR,1BA$960
11214-18 S Indiana0BR/1.0BAStudio,1BA$975
10201 S Saint Lawrence Ave1 Bedroom 1 Bath Apartment with Dining1BR,1BA$1,015
222 E 109th1 Bedroom 1 Bath Apartment with Dining1BR,1BA$1,070
Harbor Point EstatesNew Champion Homes3BR,2BA$1,450

Best Value Apartments for Rent in Far South Chicago, IL

As of June 13, 2026 the best value apartment in the Far South Chicago area is the $1.12 price per square foot Double & Single Used Model at Harbor Point Estates in the in the South Chicago neighborhood starting from $1,450. The second greatest value Far South Chicago apartment is the 9721 S Ave L Model at 9721 S Ave L, Unit 2 & 3 starting at $2,000 with a $2.00 price per square foot in the South Chicago neighborhood. Here is today’s list of the best values for Far South Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Harbor Point EstatesDouble & Single Used3BR,2BA$1.12
9721 S Ave L, Unit 2 & 39721 S Ave L3BR,1BA$2.00
12157 S Michigan Ave1 Bedroom Studio1BR,1BA$1.00
222 E 109th1 Bedroom 1 Bath Apartment with Dining1BR,1BA$1.54
11111 S Vernon1 Bedroom 1 Bath Apartment1BR,1BA$1.60
11214-18 S Indiana0BR/1.0BAStudio ,1BA$1.95
10201 S Saint Lawrence Ave1 Bedroom 1 Bath Apartment with Dining1BR,1BA$2.04

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Cheap Far South Chicago Apartments

How much is rent for a Cheap One Bedroom Far South Chicago Apartment?

The lowest price for a Cheap One Bedroom Far South Chicago Apartment is $850 at 12157 S Michigan Ave.

What is the most affordable Far South Chicago Three Bedroom Apartment?

The best deal on a cheap Far South Chicago Three Bedroom Apartment rental is at Harbor Point Estates and starts from $1,450.

Expert Rental Resources

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.

Helpful Local Expert Guides

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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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Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

Written by: Nicole Harms

With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

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Best Neighborhoods to Rent in Near Chicago's Top Employers

Written by: Nicole Harms

Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Written by: Nicole Harms

From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

Articles, How-To's, and Tips

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.