Cheap Apartments for Rent in the South Loop Neighborhood of Chicago, IL from $800 (114 Rentals)

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

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

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property at 1255 S State St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

Studio, 1 Bath Condo for Rent

Available Aug 1

1255 S State St, Unit 15B

1255 S State St
ChicagoIL60605

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 1400 S Michigan Ave

$2,000

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

1400 S Michigan Ave, Unit 27G

1400 S Michigan Ave
ChicagoIL60605
property at 630 S Clark St

$2,000

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

630 S Clark St, Unit 3711

630 S Clark St
ChicagoIL60605

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

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Coeval
$2,059 - $5,628
Total Monthly Price

Total Monthly Price

Base Rent
$2,059 - $5,628
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Coeval

51 E 14th StChicago, IL 60605
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

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Imprint
$2,116 - $13,211
Total Monthly Price

Total Monthly Price

Base Rent
$2,116 - $13,211
Total Monthly Price
Varies
Studio to 4 Bedroom Apartments Available Now

Imprint

717 S Clark StChicago, IL 60605
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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South Loop, Chicago, IL Local Guide

Cheapest Available South Loop Apartments for Rent

 

The cheapest available apartment rental in the South Loop area of Chicago, IL is a 1 Bed unit found at Prairie CoLiving priced from $1,150. 21st Street Lofts by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $1,429. Here are the most affordable South Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Prairie CoLivingPrivate bedroom with en-suite bathroom1BR,1BA$1,150
21st Street Lofts by 3L LivingStudio - CStudio,1BA$1,429
Astoria TowerStudio 08AStudio,1BA$1,722
2101 MichiganStudioStudio,1BA$1,815
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,859
Park Michigan - 1212 S Michigan AveStudio 1ba 04Studio,1BA$1,906
The Grand CentralS3Studio,1BA$2,098
30 East RooseveltER_2x12BR,1BA$2,100
777 South StateOne Bedroom1BR,1BA$2,110
AMLI 900SportyStudio,1BA$2,178

Best Value Apartments for Rent in South Loop, IL

As of July 30, 2026 the best value apartment in the South Loop area is the $2.22 price per square foot 3 Bed Model at Vesta Lofts Apartments in the in the Near South Side neighborhood starting from $2,900. The second greatest value South Loop apartment is the C3 Model at The Shelby starting at $3,575 with a $2.81 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for South Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Vesta Lofts Apartments3 Bed3BR,2BA$2.22
The ShelbyC32BR,2BA$2.81
Carriage House Lofts2 BED 2 BATH LOFT STYLE2BR,2BA$2.33
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.88
1401 S. StateB4-R2BR,2BA$3.24
777 South StateTwo Bedroom One Bathroom2BR,1BA$2.86
Wells Place Apartments1 Bed 1 Bath A41BR,1BA$3.17
30 East RooseveltER_2x12BR,1BA$2.38
2001 S State St2 Bed /1 Bath2BR,1BA$2.74
Astoria TowerStudio 08AStudio ,1BA$3.15

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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Lifestyle Ratings

ApartmentHomeLiving.com compiles millions of data points to bring you comprehensive Lifestyle Ratings of rentals in metropolitan areas across the United States including South Loop, Chicago, and the greater Chicago area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, multifamily communities for the kids, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap South Loop Apartments

What is the Cheapest Studio apartment in South Loop?

Currently the most affordable Cheap Studio Apartment in South Loop is at 21st Street Lofts by 3L Living listed at $1,429.

How much is rent for a Cheap One Bedroom South Loop Apartment?

The lowest price for a Cheap One Bedroom South Loop Apartment is $1,150 at Prairie CoLiving.

What is the lowest price for a Cheap Two Bedroom South Loop Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Loop is starting from $2,100 at 30 East Roosevelt.

What is the most affordable South Loop Three Bedroom Apartment?

The best deal on a cheap South Loop Three Bedroom Apartment rental is at 2001 S State St and starts from $2,395.

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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The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago

Written by: Nicole Harms

When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

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Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible

Written by: Nicole Harms

I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

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Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

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Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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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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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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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.