Cheap Homes for Rent in the Fernwood Neighborhood of Chicago, IL from $1,000 (21 Rentals)

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Search the lowest-cost Homes available for rent right now in the Fernwood 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.

property at 8856 S Lowe Ave

$1,450

Total Monthly Price

Total Monthly Price

Base Rent
$1,450

Total Monthly Price
$1,450

3 Bedroom, 2 Bath Condo for Rent

Available Now

8856 S Lowe Ave, Unit 2R

8856 S Lowe Ave
ChicagoIL60620

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.

property at 8900 S Dauphin Ave

$1,700

Total Monthly Price

Total Monthly Price

Base Rent
$1,700

Total Monthly Price
$1,700

2 Bedroom, 2 Bath Home for Rent

Available Now

8900 S Dauphin Ave

ChicagoIL60619

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.

Fernwood, Chicago, IL Local Guide

Cheapest Available Fernwood Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
11214-18 S Indiana0BR/1.0BAStudio,1BA$975
8855 S Cottage Grove Ave2 Bedroom 1 Bath Apartment2BR,1BA$1,125

Best Value Apartments for Rent in Fernwood, IL

As of July 10, 2026 the best value apartment in the Fernwood area is the $0.94 price per square foot 9037 S Bishop St Model at 9037 S Bishop St in the in the Beverly neighborhood starting from $1,875. The second greatest value Fernwood apartment is the 10226 S Charles St Model at 10226 S Charles St, Unit Unit 2 starting at $2,950 with a $2.46 price per square foot in the Beverly neighborhood. Here is today’s list of the best values for Fernwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
9037 S Bishop St9037 S Bishop St2BR,1BA$0.94
10226 S Charles St, Unit Unit 210226 S Charles St3BR,1BA$2.46
10925 S Vernon Ave, Unit 210925 S Vernon Ave3BR,1BA$1.36
152 E 107th St, Unit 2W152 E 107th St3BR,1BA$1.84
8855 S Cottage Grove Ave2 Bedroom 1 Bath Apartment2BR,1BA$1.73
9100 S Ashland Ave, Unit 1607 W 91st St 2nd Floor9100 S Ashland Ave1BR,1BA$1.90
10144 S Wood St, Unit Basement10144 S Wood St1BR,1BA$2.50
11214-18 S Indiana0BR/1.0BAStudio ,1BA$1.95

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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Pet Friendly Lifestyle
Fernwood, Chicago, IL

Ranked #134

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Fernwood

What type of rentals are currently available in Fernwood?

There are currently 332 Apartments for Rent in Fernwood, IL with pricing that ranges from $825 to $2,950. There are also 64 Single Family Homes for rent, Condos, and Townhome rentals currently available in Fernwood ranging from $1,300 to $3,700.

What is the current price range for Rental Homes in Fernwood?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Fernwood ranges from $1,300 to $3,700 with an average monthly rent of $2,592.

How much are larger Three and Four Bedroom Rentals in Fernwood?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Fernwood range from $1,475 to $2,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $3,700. Four Bedroom Single-Family rentals are also available starting from $2,000 and Four Bedroom Apartments start at $2,200.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.