Cheap Homes for Rent in Phoenix, IL from $1,200 (16 Rentals)

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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.

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.

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.

Phoenix, IL Local Guide

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 $955. 14133 S School St Riverdale, IL 60827 in the College District neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $980. Here is today’s list of the most affordable Phoenix apartments for rent:

Apartment ListingModel NameBed/BathPriced From
304 East 147th Street Harvey, IL 604261 Bedroom 1 Bath Apartment1BR,1BA$955
14133 S School St Riverdale, IL 608271 Bedroom 1 Bath Apartment1BR,1BA$980
14122 S School St Riverdale, IL 608272 Bedroom 1 Bath Apartment2BR,1BA$1,090
136 E 155th St Harvey, IL 604263 Bedroom 1 Bath Apartment3BR,1BA$1,105
14538 S Cottage Grove Ave Dolton, IL 604191 Bedroom 1 Bath Apartment1BR,1BA$1,125

Best Value Apartments for Rent in Phoenix, IL and Nearby

As of February 03, 2026 the best value apartment in the Phoenix area is the $1.26 price per square foot 3 Bedroom 1 Bath Apartment Model at 14031 S School St Riverdale, IL 60827 in the in the College District neighborhood starting from $1,220. The second greatest value Phoenix apartment is the 14526 Cottage Grove Ave Model at 14526 Cottage Grove Ave, Unit 2 W starting at $1,400 with a $1.65 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 ListingModel NameBed/BathPrice Per Sq.Ft.
14031 S School St Riverdale, IL 608273 Bedroom 1 Bath Apartment3BR,1BA$1.26
14526 Cottage Grove Ave, Unit 2 W14526 Cottage Grove Ave2BR,1BA$1.65
136 E 155th St Harvey, IL 604263 Bedroom 1 Bath Apartment3BR,1BA$1.41
14127 S School St Riverdale, IL 608272 Bedroom 1 Bath Apartment2BR,1BA$1.50
14122 S School St Riverdale, IL 608272 Bedroom 1 Bath Apartment2BR,1BA$1.54
14123-25 S Tracy Ave Riverdale, IL 608272 Bedroom 1 Bath Apartment2BR,1BA$1.69
13905-37 S Clark St Riverdale, IL 608271 Bedroom 1 Bath Apartment1BR,1BA$1.77
14133 S School St Riverdale, IL 608271 Bedroom 1 Bath Apartment1BR,1BA$1.61
14538 S Cottage Grove Ave Dolton, IL 604191 Bedroom 1 Bath Apartment1BR,1BA$1.84
304 East 147th Street Harvey, IL 604261 Bedroom 1 Bath Apartment1BR,1BA$1.59

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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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 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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Phoenix

What type of rentals are currently available in Phoenix?

There are currently 159 Apartments for Rent in Phoenix, IL with pricing that ranges from $1,250 to $5,117. There are also 53 Single Family Homes for rent, Condos, and Townhome rentals currently available in Phoenix ranging from $1,200 to $4,000.

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 $1,200 to $4,000 with an average monthly rent of $2,552.

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 $1,900 to $1,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,650 to $3,055. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $5,117.

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

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.