2053 135th Pl
Blue IslandIL60406
Cheap Homes for Rent in Phoenix, IL from $1,200 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Phoenix.
426 Calumet Blvd
HarveyIL60426
12863 S Normal Ave
ChicagoIL60628
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$1,4001 Bedroom Apartments Available Now
14605 Des Plaines St, Unit 1E
14605 Des Plaines StHarvey, IL 60426
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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$1,5002 Bedroom Apartments Available Now
414 W 144th St
414 W 144th StRiverdale, IL 60827
13700 S Eggleston Ave
RiverdaleIL60827
538 E 134th St
ChicagoIL60827
14520 Harvey Ave
HarveyIL60426
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.
16048 Halsted St
HarveyIL60426
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Phoenix, IL Local Guide
Route 66 by russellstreet is licensed under CC BY 2.0
How much does it cost to rent a home in Phoenix?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Phoenix 2 Bedroom Homes for Rent | $1,500 | $1,250 | $1,850 |
| Phoenix 3 Bedroom Homes for Rent | $2,341 | $1,600 | $3,050 |
| Phoenix 4 Bedroom Homes for Rent | $2,634 | $1,400 | $3,340 |
| Phoenix 5 Bedroom Homes for Rent | $2,800 | $2,800 | $2,800 |
| Phoenix 6 Bedroom Homes for Rent | $2,200 | $2,200 | $2,200 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Phoenix, IL Local Guide
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Cheapest Available Phoenix Apartments for Rent and Nearby
The cheapest available apartment rental in Phoenix, IL is a 1 Bed unit found at 304 East 147th Street Harvey, IL 60426 in the College District neighborhood priced from $900. 14031 S School St Riverdale, IL 60827 in the College District neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,095. Here is today’s list of the most affordable Phoenix apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 304 East 147th Street Harvey, IL 60426 | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $900 |
| 14031 S School St Riverdale, IL 60827 | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1,095 |
| 14133 S School St Riverdale, IL 60827 | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1,160 |
Best Value Apartments for Rent in Phoenix, IL and Nearby
As of May 08, 2026 the best value apartment in the Phoenix area is the $0.95 price per square foot 211 E 161st Pl Model at 211 E 161st Pl, Unit 1 in the in the College District neighborhood starting from $1,900. The second greatest value Phoenix apartment is the 14047 S Tracy Ave Model at 14047 S Tracy Ave, Unit 1B starting at $1,200 with a $1.00 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. |
|---|---|---|---|
| 211 E 161st Pl, Unit 1 | 211 E 161st Pl | 3BR,1BA | $0.95 |
| 14047 S Tracy Ave, Unit 1B | 14047 S Tracy Ave | 2BR,1BA | $1.00 |
| 14047 S Tracy Ave | 2BD/1BA | 2BR,1BA | $1.00 |
| 14133 S School St Riverdale, IL 60827 | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.27 |
| 14021-25 S Tracy Ave Riverdale, IL 60827 | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.62 |
| 14015-19 S Tracy Ave Riverdale, IL 60827 | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.70 |
| 13905-37 S Clark St Riverdale, IL 60827 | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1.73 |
| 304 East 147th Street Harvey, IL 60426 | 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1.50 |
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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Real 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.
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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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See the most popular apartments and homes in Phoenix, IL
Frequently Asked Questions about Phoenix
What type of rentals are currently available in Phoenix?
There are currently 163 Apartments for Rent in Phoenix, IL with pricing that ranges from $1,185 to $5,147. There are also 44 Single Family Homes for rent, Condos, and Townhome rentals currently available in Phoenix ranging from $1,250 to $3,340.
What is the current price range for Rental Homes in Phoenix?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Phoenix ranges from $1,250 to $3,340 with an average monthly rent of $2,295.
How much are larger Three and Four Bedroom Rentals in Phoenix?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Phoenix range from $1,875 to $1,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $3,050. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $5,147.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.
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.
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.