Cheap Homes for Rent in Near South Side Neighborhood of Chicago, IL from $1,500 (65 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in the Near South Side area of Chicago.

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.

Read Article

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

Chicago's Best Affordable Neighborhoods

Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

Read Article
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 4 Beds unit found at 2423 State Street priced from $1,019. Prairie Shores has the second lowest priced unit, which is a Studio apartment currently listed from $1,123. Here are the most affordable Near South Side apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
2423 State StreetPrivate Bedroom in Shared 4 Bed 3 Bath - A4BR,3BA$1,019
Prairie ShoresClassic StudioStudio,1BA$1,123
Mccormick ColivingPrivate Bedroom in Shared 4 Bed 3 Bath (E)4BR,3BA$1,255
21st Street Lofts by 3L LivingStudio - BStudio,1BA$1,399
Eden Commons1 Bedroom1BR,1BA$1,498
30 East RooseveltER_Sx1Studio,1BA$1,550
Park Michigan - 1212 S Michigan AveStudio 1ba 05Studio,1BA$1,692
820 Michigan by 3L LivingStudio EastStudio,1BA$1,819
2101 Michigan1 Bed 1 Bath B1BR,1BA$2,045
Aspire ResidencesAsp_1b_021BR,1BA$2,075

Best Value Apartments for Rent in Near South Side, IL

As of June 12, 2025 the best value apartment in the Near South Side area is the $2.38 price per square foot 3 BED 2 BATH Model at Carriage House Lofts in the in the Near South Side neighborhood starting from $3,553. The second greatest value Near South Side apartment is the C2 Model at The Shelby starting at $3,229 with a $2.69 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.
Carriage House Lofts3 BED 2 BATH3BR,2BA$2.38
The ShelbyC22BR,2BA$2.69
ELEVEN THIRTYTier 3/4 (2BR/2BA)2BR,2BA$3.24
Astoria TowerTwo Bedroom 10A2BR,2BA$2.91
Wells Place Apartments1 Bed 1 Bath A31BR,1BA$3.05
1001 South StateOne Bedroom 071BR,1BA$3.36
1135 S Delano Ct E, Unit W3271135 S Delano Ct E1BR,1BA$3.19
1401 S. StateA17-R1BR,1BA$3.29
River City Apartments1 Bedroom Balcony1BR,1BA$3.35
Eden Commons1 Bedroom1BR,1BA$2.42

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Near South Side

What type of rentals are currently available in Near South Side?

There are currently 215 Apartments for Rent in Near South Side, IL with pricing that ranges from $1,025 to $23,407. There are also 215 Single Family Homes for rent, Condos, and Townhome rentals currently available in Near South Side ranging from $1,550 to $12,000.

What is the current price range for Rental Homes in Near South Side?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Near South Side ranges from $1,550 to $12,000 with an average monthly rent of $4,419.

How much are larger Three and Four Bedroom Rentals in Near South Side?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Near South Side range from $2,132 to $16,310, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,975 to $8,500. Four Bedroom Single-Family rentals are also available starting from $8,500 and Four Bedroom Apartments start at $1,025.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.