Cheap Apartments for Rent in the Near South Side Neighborhood of Chicago, IL from $800 (91 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Near South Side 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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Coeval
$1,928 - $5,615
Total Monthly Price

Total Monthly Price

Base Rent
$1,928 - $5,615
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Coeval

51 E 14th StChicago, IL 60605
Corporate Housing
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property at 209 W 23rd St

$2,000

Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000

2 Bedroom, 2 Bath Home for Rent

Available Now

209 W 23rd St, Unit 2

209 W 23rd St
ChicagoIL60616
property at 1 E 8th St

$2,000 - $3,000

1 To 2 Bedroom Rentals

Available Now

1 E 8th St

ChicagoIL60605
property at 800 S Clark St

$2,018

Total Monthly Price

Total Monthly Price

Base Rent
$2,018
Total Monthly Price
$2,018

Studio, 1 Bath Condo for Rent

Available Aug 8

800 S Clark St, Unit 415

800 S Clark St
ChicagoIL60605

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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property at 1529 S State St

$2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,100
Total Monthly Price
$2,100

1 Bedroom, 1 Bath Condo for Rent

Available Jul 1

1529 S State St, Unit 13F

1529 S State St
ChicagoIL60605
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1400 Wabash
$2,103 - $7,568
Total Monthly Price

Total Monthly Price

Base Rent
$2,103 - $7,568
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

1400 Wabash

1400 S Wabash AveChicago, IL 60605
Corporate Housing
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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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property at 1400 S Michigan Ave

$2,150

Total Monthly Price

Total Monthly Price

Base Rent
$2,150
Total Monthly Price
$2,150

Studio, 1 Bath Condo for Rent

Available Now

1400 S Michigan Ave, Unit 27G

1400 S Michigan Ave
ChicagoIL60605
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Neveseno
$2,165 - $8,740
Total Monthly Price

Total Monthly Price

Base Rent
$2,165 - $8,740
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Neveseno

1717 S Michigan AveChicago, IL 60616
Corporate Housing
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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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1401 S. State
$2,243 - $14,477
Total Monthly Price

Total Monthly Price

Base Rent
$2,243 - $14,477
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

1401 S. State

1401 S State StChicago, IL 60605
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property at 1255 S State St

$2,250

Total Monthly Price

Total Monthly Price

Base Rent
$2,250
Total Monthly Price
$2,250

1 Bedroom, 1 Bath Condo for Rent

Available Aug 1

1255 S State St, Unit 1906

1255 S State St
ChicagoIL60605
property at 901 S Plymouth Ct

$2,300

Total Monthly Price

Total Monthly Price

Base Rent
$2,300
Total Monthly Price
$2,300

1 Bedroom, 1 Bath Condo for Rent

Available Aug 19

901 S Plymouth Ct, Unit 901

901 S Plymouth Ct
ChicagoIL60605
property at 871 S Clark St

$2,300

Studio, 1 Bath Rentals

Available Now

871 S Clark St

ChicagoIL60605
property at 2110 S Wabash Ave

$2,310 - $4,495

Total Monthly Price

Total Monthly Price

Base Rent
$2,310 - $4,495
Total Monthly Price
$2,310 - $4,495

1 To 3 Bedroom Condos for Rent

Available Now

2110 S Wabash Ave

ChicagoIL60616

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Showing Results 1-50, Page 1 of 2

Near South Side, Chicago, IL Local Guide

Cheapest Available Near South Side Apartments for Rent

 

The cheapest available apartment rental in the Near South Side area of Chicago, IL is a Studio unit found at Prairie Shores priced from $1,305. Eden Commons has the second lowest priced unit, which is a Studio apartment currently listed from $1,314. Here are the most affordable Near South Side apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Prairie ShoresClassic StudioStudio,1BA$1,305
Eden CommonsStudioStudio,1BA$1,314
Prairie CoLivingPrivate bedroom with en-suite bathroom1BR,1BA$1,350
21st Street Lofts by 3L LivingStudio - CStudio,1BA$1,429
820 Michigan by 3L LivingStudio EastStudio,1BA$1,719
30 East RooseveltER_1x11BR,1BA$1,850
CoevalS2.LStudio,1BA$2,034
Astoria TowerStudio 08AStudio,1BA$2,079
Park Michigan - 1212 S Michigan Ave1bd 1ba 101BR,1BA$2,082

Best Value Apartments for Rent in Near South Side, IL

As of June 22, 2026 the best value apartment in the Near South Side area is the $3.24 price per square foot B2-R Model at 1401 S. State in the in the Near South Side neighborhood starting from $3,473. The second greatest value Near South Side apartment is the 2113 S State St Model at 2113 S State St, Unit 6 starting at $2,200 with a $2.20 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Near South Side apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1401 S. StateB2-R2BR,2BA$3.24
2113 S State St, Unit 62113 S State St2BR,1BA$2.20
240 W 24th St, Unit 1R240 W 24th St3BR,1BA$1.59
Arrive South LoopAddison Loft2BR,2BA$3.25
Carriage House Lofts1 BED 1 BATH1BR,1BA$2.48
1 E 8th St, Unit 5051 E 8th St2BR,2BA$3.17
Park Michigan - 1212 S Michigan Ave1bd 1ba 111BR,1BA$3.10
30 East RooseveltER_1x11BR,1BA$3.21
Eden CommonsStudioStudio ,1BA$2.80
Prairie ShoresClassic StudioStudio ,1BA$3.26

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
Near South Side, Chicago, IL

Ranked #36

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Near South Side Apartments

What is a cheap apartment in Near South Side?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near South Side is under $2,082.

What is the price of a cheap apartment in Near South Side?

The cheapest apartment in Near South Side is Prairie CoLiving which is listed at $1,350, while the average apartment in Near South Side costs $6,997.

What types of apartments are the cheapest in Near South Side?

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 11 regular apartments in Near South Side 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 Near South Side?

Cheap apartments in Near South Side have an average cost of $309 which is $6,688 cheaper than the average rent for all rentals in Near South Side.

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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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.

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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.