Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (533 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Lakefront area of Chicago.

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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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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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

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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.

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

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South Lakefront, Chicago, IL Local Guide

Cheapest Available South Lakefront Apartments for Rent

 

The cheapest available apartment rental in the South Lakefront area of Chicago, IL is a Studio unit found at 6246 S. King Dr. priced from $675. 5540 Hyde Park by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $688. Here are the most affordable South Lakefront apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
6246 S. King Dr.EfficienciesStudio,1BA$675
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$688
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$688
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$699
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
7850 S Constance Ave 1822 E 79th Street Chicago, IL 60649Studio ApartmentStudio,1BA$780
8001-03 S Muskegon AveStudio ApartmentStudio,1BA$830
824 E 53rd StLarge StudioStudio,1BA$850
The Townhouse ApartmentsStudio, 1 bathStudio,1BA$850

Best Value Apartments for Rent in South Lakefront, IL

As of December 27, 2025 the best value apartment in the South Lakefront area is the $0.90 price per square foot 8234 S Maryland Ave Model at 8234 S Maryland Ave, Unit 3 in the in the Chatham neighborhood starting from $1,800. The second greatest value South Lakefront apartment is the 8445 S Marquette Ave Model at 8445 S Marquette Ave, Unit 1 Floor starting at $1,600 with a $0.89 price per square foot in the South Chicago neighborhood. Here is today’s list of the best values for South Lakefront apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
8234 S Maryland Ave, Unit 38234 S Maryland Ave3BR,1BA$0.90
8445 S Marquette Ave, Unit 1 Floor8445 S Marquette Ave2BR,1BA$0.89
8213 S Houston Ave, Unit 2nd Floor8213 S Houston Ave3BR,1BA$1.07
7255-7257 S Calumet Ave2 Bed 1 Bath2BR,1BA$1.07
IronwoodTwo Bedroom 120%2BR,1BA$0.91
8615 S Colfax Ave, Unit 8615-18615 S Colfax Ave3BR,2BA$1.00
7316 S Jeffery Blvd Chicago, IL 606493 Bedroom 1 Bath Apartment3BR,1BA$1.06
2817 E 77th St2 Bedroom 1 Bath Apartment2BR,1BA$1.03
8642 S Maryland Ave1 Bed, 1 bath1BR,1BA$1.00
6519 S Eberhart Ave, Unit Unit16519 S Eberhart Ave1BR,1BA$1.06

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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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #36

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
South Lakefront, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of neighborhoods, areas, and rental properties across Illinois, including Chicago. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for convenient access to the outdoors, luxury amenities, pet-friendly features, family-friendly amenities, proximity to transit, walking, and biking. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap South Lakefront Apartments

What is a cheap apartment in South Lakefront?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Lakefront is under $850.

What is the price of a cheap apartment in South Lakefront?

The cheapest apartment in South Lakefront is 7110-18 S Ridgeland Ave which is listed at $875, while the average apartment in South Lakefront costs $3,732.

What types of apartments are the cheapest in South Lakefront?

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 215 regular apartments in South Lakefront 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 South Lakefront?

Cheap apartments in South Lakefront have an average cost of $369 which is $3,363 cheaper than the average rent for all rentals in South Lakefront.

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 to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!