Cheap Apartments for Rent in the Southwest Chicago Neighborhood of Chicago, IL from $500 (1,220 Rentals)

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

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1415 E 52nd St
$700 - $2,880
Total Monthly Price

Total Monthly Price

Base Rent
$700 - $2,880
Total Monthly Price
$700 - $2,880
1 to 4 Bedroom Apartment Available Now

1415 E 52nd St

1415 E 52nd StChicago, IL 60615
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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 1550 W 95th St

$825 - $950

Studio To 1 Bedroom Rentals

Available Now

1550 W 95th St

ChicagoIL60643

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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2014 S Ashland Ave
$900 - $1,200
Total Monthly Price

Total Monthly Price

Base Rent
$900 - $1,200
Total Monthly Price
$900 - $1,200
1 Bedroom Apartment Available Now

2014 S Ashland Ave

2014 S Ashland AveChicago, IL 60608
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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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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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2843 S Kildare Ave
$970 - $1,340
Total Monthly Price

Total Monthly Price

Base Rent
$970 - $1,340
Total Monthly Price
$970 - $1,340
1 to 2 Bedroom Apartment Available Now

2843 S Kildare Ave

2843 S Kildare AveChicago, IL 60623
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4355 S Sawyer Ave
$995
Total Monthly Price

Total Monthly Price

Base Rent
$995
Total Monthly Price
$995
1 Bedroom Apartment Available Now

4355 S Sawyer Ave

4355 S Sawyer AveChicago, IL 60632
Affordability

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Southwest Chicago, Chicago, IL Local Guide

Cheapest Available Southwest Chicago Apartments for Rent

 

The cheapest available apartment rental in the Southwest Chicago area of Chicago, IL is a 4 Beds unit found at Coleman Place At Legends South priced from $170. 5445 Ingleside By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $684. Here are the most affordable Southwest Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Coleman Place At Legends SouthThe Wells4BR,2BA$170
5445 Ingleside By 3L LivingCo-Living Single RoomStudio,1BA$684
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
1155 W 83rd StStudioStudio,1BA$700
6246 S. King Dr.EfficienciesStudio,1BA$710
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726
808 W 76thStudio ApartmentStudio,1BA$745
9001 S CommercialStudio ApartmentStudio,1BA$760

Best Value Apartments for Rent in Southwest Chicago, IL

As of June 20, 2026 the best value apartment in the Southwest Chicago area is the $0.33 price per square foot 7536 S Phillips Ave Model at 7536 S Phillips Ave, Unit New York Property nest Inc. in the in the South Shore neighborhood starting from $2,000. The second greatest value Southwest Chicago apartment is the 650 W 61st St Model at 650 W 61st St, Unit 1st floor starting at $1,500 with a $0.30 price per square foot in the Englewood neighborhood. Here is today’s list of the best values for Southwest Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
7536 S Phillips Ave, Unit New York Property nest Inc.7536 S Phillips Ave3BR,1.5BA$0.33
650 W 61st St, Unit 1st floor650 W 61st St3BR,1BA$0.30
4801 S Ashland Ave, Unit #24801 S Ashland Ave3BR,1.5BA$0.89
6329 S Loomis Blvd, Unit 26329 S Loomis Blvd3BR,1BA$0.70
1016 W 70th St, Unit #1W1016 W 70th St3BR,1BA$0.68
9037 S Bishop St9037 S Bishop St2BR,1BA$0.88
Prairie Park ApartmentsThree Bedroom 60% AMI3BR,2BA$0.87
8010 S Marshfield Ave, Unit 1 - First Floor8010 S Marshfield Ave2BR,1BA$0.87
IronwoodTwo Bedroom 120%2BR,1BA$0.91
7944 S Lafayette Ave, Unit 27944 S Lafayette Ave2BR,1BA$0.89

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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Pet Friendly Lifestyle
Southwest Chicago, Chicago, IL

Ranked #13

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
Southwest Chicago, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for South Chicago, IL. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, transit availability, pet-friendly communities, places that make kids happy, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Southwest Chicago Apartments

What is a cheap apartment in Southwest Chicago?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southwest Chicago is under $760.

What is the price of a cheap apartment in Southwest Chicago?

The cheapest apartment in Southwest Chicago is 1155 W 83rd St which is listed at $800, while the average apartment in Southwest Chicago costs $17,222.

What types of apartments are the cheapest in Southwest Chicago?

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 321 regular apartments in Southwest Chicago 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 Southwest Chicago?

Cheap apartments in Southwest Chicago have an average cost of $491 which is $16,731 cheaper than the average rent for all rentals in Southwest Chicago.

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

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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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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.