Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $900 (62 Rentals)

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Search the lowest-cost Homes available for rent right now in the South Loop 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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property at 712 S Wells St

$1,996

Studio, 1 Bath Rentals

Available Now

712 S Wells St

ChicagoIL60607

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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property at 1400 S Michigan Ave

$2,050

Total Monthly Price

Total Monthly Price

Base Rent
$2,050
Total Monthly Price
$2,050

Studio, 1 Bath Condo for Rent

Available Now

1400 S Michigan Ave, Unit 27G

1400 S Michigan Ave
ChicagoIL60605
property at 800 S Clark St

$2,070 - $3,480

Total Monthly Price

Total Monthly Price

Base Rent
$2,070 - $3,480
Total Monthly Price
$2,070 - $3,480

Studio To 2 Bedroom Condos for Rent

Available Now

800 S Clark St

ChicagoIL60605
property at 630 S Clark St

$2,100

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

630 S Clark St, Unit 3711

630 S Clark St
ChicagoIL60605

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

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property at 621 S Plymouth Ct

$2,150

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Condo for Rent

Available Now

621 S Plymouth Ct, Unit 307

621 S Plymouth Ct
ChicagoIL60605
property at 871 S Clark St

$2,175

Studio, 1 Bath Rentals

Available Now

871 S Clark St

ChicagoIL60605
property at 1345 S Wabash Ave

$2,200 - $2,900

Total Monthly Price

Total Monthly Price

Base Rent
$2,200 - $2,900
Total Monthly Price
$2,200 - $2,900

1 To 2 Bedroom Condos for Rent

Available Now

1345 S Wabash Ave

ChicagoIL60605

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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property at 880 S Clark St

$2,222

1 Bedroom, 1 Bath Rentals

Available Now

880 S Clark St

ChicagoIL60605

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

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Showing Results 1-50, Page 1 of 2

Cheapest Available South Loop Apartments for Rent

 

The cheapest available apartment rental in the South Loop area of Chicago, IL is a Studio unit found at 21st Street Lofts by 3L Living priced from $1,329. Prairie CoLiving has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,350. Here are the most affordable South Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
21st Street Lofts by 3L LivingStudio - BStudio,1BA$1,329
Prairie CoLivingPrivate bedroom with en-suite bathroom1BR,1BA$1,350
561 W 18th St1st front1BR,1BA$1,450
820 Michigan by 3L LivingStudio EastStudio,1BA$1,689
30 East RooseveltER_1x11BR,1BA$1,750
2101 MichiganStudioStudio,1BA$1,815
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
Park Michigan - 1212 S Michigan AveStudio 1ba 09Studio,1BA$1,944
1407 on MichiganS7Studio,1BA$1,967

Best Value Apartments for Rent in South Loop, IL

As of March 08, 2026 the best value apartment in the South Loop area is the $0.93 price per square foot Apartment 3 Bedroom Model at 1935 S Canalport Ave in the in the South Loop neighborhood starting from $1,825. The second greatest value South Loop apartment is the 4 BEDROOM/4 BATHROOM - D Model at 30 East starting at $1,730 with a $1.24 price per square foot in the South Loop 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.
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
30 East4 BEDROOM/4 BATHROOM - D4BR,4BA$1.24
The Regal Apartments3 Bedrooms Floor Plan C13BR,2.5BA$2.08
1806 S Jefferson St, Unit 011806 S Jefferson St2BR,1BA$1.83
1464 S MICHIGAN1464 S MICHIGAN2BR,2BA$2.50
731 Plymouth by 3L Living2 Bedroom East2BR,1BA$2.25
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
Carriage House Lofts1 BED 1 BATH1BR,1BA$2.48
Student | The Flats East West3x23BR,2BA$1.23
The ShelbyA11BR,1BA$2.76

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 277 Apartments for Rent in South Loop, IL with pricing that ranges from $1,329 to $19,872. There are also 234 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $930 to $12,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Loop ranges from $930 to $12,500 with an average monthly rent of $3,826.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Loop range from $1,825 to $17,438, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,250 to $9,000. Four Bedroom Single-Family rentals are also available starting from $930 and Four Bedroom Apartments start at $1,629.

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.

decorative image for Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago article

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.

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

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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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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.