Cheap Apartments for Rent in the Midway Airport Neighborhood of Chicago, IL from $800 (21 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Midway Airport 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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5454 S Laramie Ave
1 Bedroom Apartments

5454 S Laramie Ave

5454 S Laramie AveChicago, IL 60638
  • Utilities Included
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Cicero Senior Lofts
Studio to 2 Bedroom Apartments

Cicero Senior Lofts

4835 S Cicero AveChicago, IL 60632
Senior Living
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El San Arms
1 Bedroom Apartments

El San Arms

5614-5628 Archer AveChicago, IL 60638
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Atrium West Apartments
1 to 3 Bedroom Apartments

Atrium West Apartments

5908-5920 W 55th StChicago, IL 60638
  • 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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5927-5929 W 63rd St
1 to 2 Bedroom Apartments

5927-5929 W 63rd St

5927-5929 W 63rd StChicago, IL 60638
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5500 W 55th St
1 Bedroom Apartments

5500 W 55th St

5500 W 55th StChicago, IL 60638
  • 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.

Midway Airport, Chicago, IL Local Guide

Cheapest Available Midway Airport Apartments for Rent

 

The cheapest available apartment rental in the Midway Airport area of Chicago, IL is a Studio unit found at Midway priced from $950. Park Place Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,005. Here are the most affordable Midway Airport apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
MidwayStudioStudio,1BA$950
Park Place ApartmentsOner Bedroom 50%1BR,1BA$1,005
5835 W 63rd St1 bed 1 bath1BR,1BA$1,300
6301 S Keeler Ave Chicago IL2BR/1.0BA2BR,1BA$1,800

Best Value Apartments for Rent in Midway Airport, IL

As of June 15, 2026 the best value apartment in the Midway Airport area is the $1.31 price per square foot 4540 W 59th St Model at 4540 W 59th St, Unit Midway in the in the West Lawn neighborhood starting from $1,700. The second greatest value Midway Airport apartment is the 4829 S Tripp Ave Model at 4829 S Tripp Ave, Unit 1R starting at $1,150 with a $1.15 price per square foot in the West Elsdon neighborhood. Here is today’s list of the best values for Midway Airport apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
4540 W 59th St, Unit Midway4540 W 59th St3BR,1BA$1.31
4829 S Tripp Ave, Unit 1R4829 S Tripp Ave2BR,1BA$1.15
6148 S Major Ave, Unit 26148 S Major Ave3BR,2BA$2.40
Park Place ApartmentsTwo Bedroom 60%2BR,1BA$1.60
MidwayGarden Unit2BR,1BA$2.00
5835 W 63rd St1 bed 1 bath1BR,1BA$2.17

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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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 Midway Airport Apartments

How much is rent for a Cheap One Bedroom Midway Airport Apartment?

The lowest price for a Cheap One Bedroom Midway Airport Apartment is $1,005 at Park Place Apartments.

What is the lowest price for a Cheap Two Bedroom Midway Airport Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Midway Airport is starting from $1,200 at Park Place Apartments.

What is the most affordable Midway Airport Three Bedroom Apartment?

The best deal on a cheap Midway Airport Three Bedroom Apartment rental is at Park Place Apartments and starts from $1,390.

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.