
Cheap Apartments for Rent in Homewood, IL from $700 (56 Rentals)
Search the lowest-cost Apartments available for rent right now in Homewood.


18154 Martin Ave

18205 Morgan St

17714 Dixie Hwy

1947 Hickory Rd

3206 W 184th St

18310-18340 Cherry Creek dr

3232 184th St

Cameo Condominiums

Homewood Shores
The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago
Chicago may cost more than the national average, but with the right neighborhood, a smart transit strategy, and a few local insider tips, living well in the Windy City is more achievable than you might think. Our local expert breaks down everything from rent and groceries to transportation and healthcare so you can plan your move with confidence.

Governors Place

3212 W 184th St

1940 Hickory Rd

The Willows in Homewood

Freedom Village

1359 Ridge Rd

The Hartford

Thornwood Apartments

Hampton Court

16236 Spaulding Ave
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

128 E Joe Orr Rd

2640 Flossmoor Rd

15945 Lexington Ave

Village Of Hazel Crest

1206 West End Ave

16613 Hillcrest Dr

3734 171st St

Central Drive Condominiums

430-434 N Roberts Dr

16044 S Halsted St
Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible
Looking for a rental near Chicago? These five cities offer excellent options! From small-town charm to excellent business options, you can't go wrong!

811 Sangamon St

15750 Dixie Hwy

737-747 Grant Ave

Hazelnut Apartments

15800 Turlington

514-516 Roberts Dr

Nugent Square

3811 171st St

631 Carpenter St

18585-18591 Meadow Ln
Chicago Relocation 101: Mastering Utilities, Registration, and the CTA
Moving to Chicago? This essential relocation guide offers a complete checklist for new residents, covering finding the right neighborhood, setting up utilities (ComEd, People’s Gas), and mastering high-rise moving logistics and vehicle registration.

524-528 N Roberts Dr

436-440 N Roberts Dr

1036 S Halsted Ave

15647 Halsted St

647-651 Carroll Pky

Oakwood Apartments

Versailles Apartments

Sunrise Villa Olympia Fields 62+

501-513 Chicago Rd

15815 W Lexington Ave
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
Homewood, IL Local Guide

How much does it cost to rent an apartment in Homewood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Homewood 1 Bedroom Apartments | $995 | $995 | $995 |
| Cheap Homewood 2 Bedroom Apartments | $1,262 | $1,175 | $1,350 |
| Cheap Homewood 3 Bedroom Apartments | $2,009 | $1,437 | $2,400 |
Browse Top Apartments in Homewood
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Homewood, IL Local Guide
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Cheapest Available Homewood Apartments for Rent
 | Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Oakwood Apartments | 1 Beds, 1 Baths | 1BR,1BA | $900 |
Best Value Apartments for Rent in Homewood, IL
As of August 07, 2026 the best value apartment in the Homewood area is the $1.80 price per square foot 15743 Fisk St Model at 15743 Fisk St, Unit 1 in the in the College District neighborhood starting from $1,350. The second greatest value Homewood apartment is the 1 Beds, 1 Baths Model at Oakwood Apartments starting at $900 with a $1.80 price per square foot in the Chateaux neighborhood. Here is today’s list of the best values for Homewood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 15743 Fisk St, Unit 1 | 15743 Fisk St | 2BR,1BA | $1.80 |
| Oakwood Apartments | 1 Beds, 1 Baths | 1BR,1BA | $1.80 |
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.
Read ArticleBest 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
Read ArticleA 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
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Homewood, IL Rentals by Map
See the most popular apartments and homes in Homewood, IL
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

The Windy City Price Tag: Your Complete Guide to the Cost of Living in Chicago
Written by: Nicole Harms
When choosing a place to live, there are many things you must consider. Your employer, your shopping preferences, and even schools are all important to think about. Yet cost of living is also important to know and plan for.

Best Places to Live Near Chicago: 5 Cities That Keep the Windy City Accessible
Written by: Nicole Harms
I’m Nicole, you’re ApartmentHomeLiving.com Local Expert for Chicago. There’s no denying I love the Windy City. Yet there’s also no denying that rental homes in Chicago can be pricy, small, and hard to find.

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA
Written by: Nicole Harms
Moving to a new city is always an exciting time, especially one as vibrant and diverse as Chicago. With world-class museums, a breathtaking lakefront, and numerous employment opportunities, there’s much to love about this city.

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

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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.