Cheap Apartments for Rent in the Southwest Chicago Neighborhood of Chicago, IL from $500 (1,179 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southwest Chicago 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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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

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4355 S Sawyer Ave
$995 - $1,000
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Total Monthly Price

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$995 - $1,000
Total Monthly Price
$995 - $1,000
1 Bedroom Apartment Available Now

4355 S Sawyer Ave

4355 S Sawyer AveChicago, IL 60632
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6327 S Kenneth Ave
$1,000 - $2,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,000 - $2,100
Total Monthly Price
$1,000 - $2,100
1 to 3 Bedroom Apartment Available Now

6327 S Kenneth Ave

6327 S Kenneth AveChicago, IL 60629
Affordability
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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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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
1155 W 83rd StStudioStudio,1BA$700
Highlands Tudor Manor - 55+ CommunityStudioStudio,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
6104 S Campbell Ave 2501-11 W 61st Chicago, IL 60629Studio ApartmentStudio,1BA$735
7953-59 S Dobson Ave Chicago, IL 60619Studio ApartmentStudio,1BA$770
808 W 76th St 7542-52 S Halsted Chicago, IL 60620Studio ApartmentStudio,1BA$775

Best Value Apartments for Rent in Southwest Chicago, IL

As of April 26, 2026 the best value apartment in the Southwest Chicago area is the $0.66 price per square foot 2Bd/1B - w/ an office Model at 5567 W Van Buren St in the in the Austin neighborhood starting from $1,900. The second greatest value Southwest Chicago apartment is the 6329 S Loomis Blvd Model at 6329 S Loomis Blvd, Unit 2 starting at $1,550 with a $0.70 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.
5567 W Van Buren St2Bd/1B - w/ an office2BR,1BA$0.66
6329 S Loomis Blvd, Unit 26329 S Loomis Blvd3BR,1BA$0.70
1016 W 70th St, Unit #1W1016 W 70th St3BR,1BA$0.68
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
6843 S Merrill Ave6843 S Merrill Ave3BR,2BA$1.03
Prairie Park ApartmentsThree Bedroom 60% AMI3BR,2BA$0.87
8855 S Dorchester Ave, Unit 2ndfloorr8855 S Dorchester Ave2BR,1BA$0.71
8010 S Marshfield Ave, Unit 18010 S Marshfield Ave2BR,1BA$0.87
IronwoodTwo Bedroom 120%2BR,1BA$0.91
7915 S Dobson Ave, Unit 1E7915 S Dobson Ave1BR,1BA$1.03

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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Pet Friendly Lifestyle
Southwest Chicago, Chicago, IL

Ranked #9

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 $775.

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 $29,926.

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 425 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 $576 which is $29,350 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

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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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.