Cheap Apartments for Rent in the Far South Chicago Neighborhood of Chicago, IL from $500 (39 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
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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

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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11214-18 S Indiana
Studio to 2 Bedroom Apartments

11214-18 S Indiana

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

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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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

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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10 W 137th St
1 to 3 Bedroom Apartments

10 W 137th St

10 W 137th StRiverdale, IL 60827
Showing Results 1-39, Page 1 of 1

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. 410 E 107th St Chicago, IL 60628 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $970. 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
410 E 107th St Chicago, IL 606281 Bedroom 1 Bath Apartment with Dining1BR,1BA$970
11214-18 S Indiana0BR/1.0BAStudio,1BA$975
11143 S Dr Martin Luther King Jr Dr Chicago, IL 606281 Bedroom 1 Bath Apartment1BR,1BA$1,020
222 E 109th St Chicago, IL 606281 Bedroom 1 Bath Apartment with Dining1BR,1BA$1,070
10901 S Vernon 433-35 E 109th Chicago, IL 606281 Bedroom 1 Bath Apartment1BR,1BA$1,080
The Lakes Apartments2 Bedroom 1 Bath Apartment2BR,1BA$1,170
13256 S Prairie Ave Chicago, IL 608272 Bedroom 1.5 Bath Townhouse2BR,1BA$1,305
Harbor Point EstatesNew Champion Homes3BR,2BA$1,450

Best Value Apartments for Rent in Far South Chicago, IL

As of April 28, 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 11146 S Vernon Ave Model at 11146 S Vernon Ave starting at $1,700 with a $1.42 price per square foot in the Pullman 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
11146 S Vernon Ave11146 S Vernon Ave3BR,1BA$1.42
3021 E 138th Pl, Unit 23021 E 138th Pl3BR,2BA$1.88
The Lakes Apartments2 Bedroom 1.5 Bath Townhouse2BR,1.5BA$1.40
12157 S Michigan Ave1 Bedroom Studio1BR,1BA$1.00
10901 S Vernon 433-35 E 109th Chicago, IL 606281 Bedroom 1 Bath Apartment1BR,1BA$1.39
13256 S Prairie Ave Chicago, IL 608272 Bedroom 1.5 Bath Townhouse2BR,1.5BA$1.72
11214-18 S Indiana1BR/1.0BA1BR,1BA$2.13
410 E 107th St Chicago, IL 606281 Bedroom 1 Bath Apartment with Dining1BR,1BA$1.51
11143 S Dr Martin Luther King Jr Dr Chicago, IL 606281 Bedroom 1 Bath Apartment1BR,1BA$1.92

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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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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Best Local Schools in
Far South Chicago, Chicago, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Far South Chicago Apartments

What is the price of a cheap apartment in Far South Chicago?

The cheapest apartment in Far South Chicago is 12157 S Michigan Ave which is listed at $850, while the average apartment in Far South Chicago costs $1,700.

What types of apartments are the cheapest in Far South Chicago?

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 1 regular apartments in Far South Chicago 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 Far South Chicago?

Cheap apartments in Far South Chicago have an average cost of $283 which is $1,417 cheaper than the average rent for all rentals in Far South Chicago.

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.

decorative image for Best Neighborhoods to Rent in Near Chicago's Top Employers article

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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.