Cheap Apartments for Rent in the South Loop Neighborhood of Chicago, IL from $800 with Parking (80 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Loop 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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property at 899 S Plymouth Ct

$1,900 - $2,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,900 - $2,000
Total Monthly Price
$1,900 - $2,000

1 Bedroom, 1 Bath Condo for Rent

Available Now

899 S Plymouth Ct

ChicagoIL60605
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Imprint
$1,927 - $6,375
Total Monthly Price

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$1,927 - $6,375
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Studio to 4 Bedroom Apartments Available Now

Imprint

717 S Clark StChicago, IL 60605
Corporate Housing
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Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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Coeval
Rent Specials
$1,955 - $4,989
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$1,955 - $4,989
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Studio to 2 Bedroom Apartments Available Now

Coeval

51 E 14th StChicago, IL 60605
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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 1808 S Michigan Ave

$2,150

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Total Monthly Price

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

1 Bedroom, 1 Bath Condo for Rent

Available Now

1808 S Michigan Ave, Unit 22, Unit 22

1808 S Michigan Ave
ChicagoIL60616
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1400 Wabash
$2,178 - $7,568
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$2,178 - $7,568
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Studio to 3 Bedroom Apartments Available Now

1400 Wabash

1400 S Wabash AveChicago, IL 60605
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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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1001 South State
$2,269 - $6,287
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$2,269 - $6,287
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Studio to 3 Bedroom Apartments Available Now

1001 South State

1001 S State StChicago, IL 60605
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Neveseno
$2,275 - $8,740
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Total Monthly Price

Base Rent
$2,275 - $8,740
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1 to 4 Bedroom Apartments Available Now

Neveseno

1717 S Michigan AveChicago, IL 60616
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Apartment Parking Lot Etiquette

Check out some very simple ideas and tips to follow when parking at an apartment community that can make storing your vehicle easier for you and the residents around you.

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Frequently Asked Questions about Cheap South Loop Apartments

What is a cheap apartment in South Loop?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Loop is under $2,003.

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

The cheapest apartment in South Loop is Prairie CoLiving which is listed at $1,350, while the average apartment in South Loop costs $6,062.

What types of apartments are the cheapest in South Loop?

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 59 regular apartments in South Loop 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 Loop?

Cheap apartments in South Loop have an average cost of $979 which is $5,083 cheaper than the average rent for all rentals in South Loop.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.