
Cheap Apartments for Rent in Phoenix, IL from $600 (70 Rentals)
Search the lowest-cost Apartments available for rent right now in Phoenix.


13905 S Clark

14843 S Morgan St

14143 S Tracy Ave

13906 S Indiana Ave

14545 Jefferson St

15200 Chicago Rd

13826 S La Salle St

14113 S Stewart

13940 S Edbrooke Ave
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.

15945 Lexington Ave

15206 S Chicago Rd

16054 Cottage Grove Ave

15962 S Park Ave

14120 S Tracy Ave

14401 S Normal Ave

15540 S Center Ave

14040 S School Street

500 W 144th St

455 W 144th St
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.

16044 S Halsted St

14915 Washington

14118 S Atlantic Ave

14113 S School St

13844 S Atlantic Ave

14108 S Tracy Ave

95 W 154th St

15800 Turlington

13946 S Wabash Ave

14032 S School St
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.

14112-14114 S Tracy Ave

407-409 W 144th St

14330 S Stewart Ave

14921 Washington St

14047 S School St

13944 S Indiana Ave

780 E 164th St

15226 Martin Luther King Jr Dr

14547 Chicago Road

136 E 155th
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.

14031 S School

304 E 147th St

14122 S School St

14127 S School St

14101 S Atlantic

14123 S Tracy

14110 S Atlantic Ave

14021 S Tracy

Whistler's Crossing

15210-14 Chicago Rd
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.
Phoenix, IL Local Guide

How much does it cost to rent an apartment in Phoenix?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Phoenix 1 Bedroom Apartments | $1,257 | $1,210 | $1,400 |
| Cheap Phoenix 2 Bedroom Apartments | $1,430 | $1,200 | $1,700 |
| Cheap Phoenix 3 Bedroom Apartments | $1,891 | $1,850 | $1,950 |
Browse Top Apartments in Phoenix
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Phoenix, IL Local Guide
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Cheapest Available Phoenix Apartments for Rent
 The cheapest available apartment rental in Phoenix, IL is a 1 Bed unit found at 14031 S School in the College District neighborhood priced from $1,045. 14101 S Atlantic in the College District neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,140. Here is today’s list of the most affordable Phoenix apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 14031 S School | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1,045 |
| 14101 S Atlantic | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1,140 |
| 14047 S Tracy Ave | 2BD/1BA | 2BR,1BA | $1,200 |
| 14119 S Tracy | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1,205 |
| 13905 S Clark | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1,210 |
| 14021 S Tracy | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1,225 |
Best Value Apartments for Rent in Phoenix, IL
As of June 19, 2026 the best value apartment in the Phoenix area is the $1.00 price per square foot 2BD/1BA Model at 14047 S Tracy Ave in the in the College District neighborhood starting from $1,200. The second greatest value Phoenix apartment is the 724 W 138th St Model at 724 W 138th St, Unit 3 starting at $1,250 with a $1.56 price per square foot in the College District neighborhood. Here is today’s list of the best values for Phoenix apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 14047 S Tracy Ave | 2BD/1BA | 2BR,1BA | $1.00 |
| 724 W 138th St, Unit 3 | 724 W 138th St | 2BR,1BA | $1.56 |
| 14101 S Atlantic | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.44 |
| 14021 S Tracy | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.62 |
| 14119 S Tracy | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.73 |
| 13905 S Clark | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1.77 |
| 14031 S School | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1.69 |
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 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!
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Frequently Asked Questions about Cheap Phoenix Apartments
How much is rent for a Cheap One Bedroom Phoenix Apartment?
The lowest price for a Cheap One Bedroom Phoenix Apartment is $1,045 at 14031 S School.
What is the lowest price for a Cheap Two Bedroom Phoenix Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Phoenix is starting from $1,140 at 14101 S Atlantic.
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.
Articles, How-To's, and Tips

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.

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.

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.

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.