Cheap Apartments for Rent in the Southwest Chicago Neighborhood of Chicago, IL from $500 (938 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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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 Studio unit found at 1155 W 83rd St priced from $650. Highlands Tudor Manor - 55+ Community has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here are the most affordable Southwest Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1155 W 83rd StStudioStudio,1BA$650
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$705
5748 Blackstone By 3L LivingShared Kitchenette & BathroomStudio,1BA$749
808 W 76th StStudio ApartmentStudio,1BA$750
6246 S. King Dr.Two rm StudioStudio,1BA$750
8100 S Drexel AveStudio ApartmentStudio,1BA$775
5540 Hyde Park by 3L LivingEfficiency Studio - WestStudio,1BA$786
7150 S Cornell Ave0 Beds, 1 BathsStudio,1BA$800
8000-12 S Maryland AveStudio ApartmentStudio,1BA$840

Best Value Apartments for Rent in Southwest Chicago, IL

As of September 01, 2025 the best value apartment in the Southwest Chicago area is the $0.25 price per square foot 624 S Oakley Blvd Model at 624 S Oakley Blvd, Unit # 02 in the in the Near West Side neighborhood starting from $2,500. The second greatest value Southwest Chicago apartment is the 5344 S Carpenter St Model at 5344 S Carpenter St, Unit Duplex starting at $1,650 with a $0.53 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.
624 S Oakley Blvd, Unit # 02624 S Oakley Blvd3BR,2BA$0.25
5344 S Carpenter St, Unit Duplex5344 S Carpenter St3BR,1BA$0.53
6531 S Paulina St, Unit 26531 S Paulina St3BR,1BA$0.63
6851 S Wabash Ave, Unit 16851 S Wabash Ave4BR,1BA$0.75
7437-7439 S Chappel Ave3BD/2BA3BR,2BA$0.94
7914 S Champlain Ave, Unit 37914 S Champlain Ave4BR,1BA$1.00
8128 S Marshfield Ave, Unit Second floor8128 S Marshfield Ave3BR,1BA$1.00
1623 W 61st St3 Bedroom/2 Bathroom3BR,2BA$1.00
8434 S Cregier Ave, Unit 1N8434 S Cregier Ave3BR,1BA$1.00
Tailor LoftsVanBuren4BR,4BA$0.96

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Southwest Chicago, Chicago, IL

Ranked #28

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 $840.

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 $750, while the average apartment in Southwest Chicago costs $31,330.

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 140 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 $374 which is $30,956 cheaper than the average rent for all rentals in Southwest Chicago.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.