Cheap Homes for Rent in Southwest Chicago Neighborhood of Chicago, IL from $700 (395 Rentals)

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

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

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 5445 Ingleside By 3L Living priced from $639. 1155 W 83rd St has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here are the most affordable Southwest Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$639
1155 W 83rd StStudioStudio,1BA$650
5748 Blackstone By 3L LivingShared Kitchenette & BathroomStudio,1BA$699
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
6246 S. King Dr.Two rm StudioStudio,1BA$750
808 W 76th StStudio ApartmentStudio,1BA$770
6238-44 S Western AveStudioStudio,1BA$775

Best Value Apartments for Rent in Southwest Chicago, IL

As of August 04, 2025 the best value apartment in the Southwest Chicago area is the $0.32 price per square foot 648 W 16th St Model at 648 W 16th St, Unit #1 in the in the South Loop neighborhood starting from $3,200. 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.
648 W 16th St, Unit #1648 W 16th St3BR,2BA$0.32
5344 S Carpenter St, Unit Duplex5344 S Carpenter St3BR,1BA$0.53
8230 S Hermitage Ave, Unit 18230 S Hermitage Ave3BR,1BA$0.73
7914 S Champlain Ave, Unit 37914 S Champlain Ave4BR,1BA$1.00
7437-7439 S Chappel Ave3BD/2BA3BR,2BA$0.94
6245 S Sacramento Ave, Unit 16245 S Sacramento Ave3BR,1BA$1.06
4334 W Monroe St, Unit 24334 W Monroe St3BR,1BA$1.06
8915 S Exchange Ave, Unit 38915 S Exchange Ave4BR,1BA$1.07
8241 S Commercial Ave, Unit Rear8241 S Commercial Ave2BR,1BA$0.96
8046 S Maryland Ave, Unit 1st floor8046 S Maryland Ave1BR,1BA$0.82

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Southwest Chicago

What type of rentals are currently available in Southwest Chicago?

There are currently 7555 Apartments for Rent in Southwest Chicago, IL with pricing that ranges from $575 to $16,678. There are also 1358 Single Family Homes for rent, Condos, and Townhome rentals currently available in Southwest Chicago ranging from $700 to $58,000.

What is the current price range for Rental Homes in Southwest Chicago?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Southwest Chicago ranges from $700 to $58,000 with an average monthly rent of $3,051.

How much are larger Three and Four Bedroom Rentals in Southwest Chicago?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Southwest Chicago range from $1,075 to $15,440, while Three Bedroom Homes, Condos, and Townhomes for rent range from $825 to $7,900. Four Bedroom Single-Family rentals are also available starting from $860 and Four Bedroom Apartments start at $1,040.

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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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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.