Cheap Homes for Rent in Fernwood Neighborhood of Chicago, IL from $1,000 (14 Rentals)

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

Chicago's Best Affordable Neighborhoods

Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

Fernwood, Chicago, IL Local Guide

Cheapest Neighborhoods for Apartments in Fernwood, IL

Pricing Updated: 03/20/2025

Current apartment rentals in the Fernwood, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Fernwood Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

Cheapest Available Fernwood Apartments for Rent

 

The cheapest available apartment rental in the Fernwood area of Chicago, IL is a Studio unit found at 1155 W 83rd St priced from $650. 11111 S Vernon has the second lowest priced unit, which is a 1 Bed apartment currently listed from $880. Here are the most affordable Fernwood apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1155 W 83rd StStudioStudio,1BA$650
11111 S Vernon1 Bedroom 1 Bath Apartment1BR,1BA$880
Chatham Grove1 Bedroom, 1 Bath1BR,1BA$920
10719 S Calumet Ave2 Bedroom 1 Bathroom Apartment2BR,1BA$1,240
8004 S Eberhart Ave2BR/1.0BA2BR,1BA$1,400

Best Value Apartments for Rent in Fernwood, IL

As of March 21, 2025 the best value apartment in the Fernwood area is the $2.38 price per square foot 2BR/1.0BA Model at 10437 S Hale Ave in the in the Beverly neighborhood starting from $2,850. The second greatest value Fernwood apartment is the 2BD/1BA Model at 8017 S Vernon Ave starting at $1,400 with a $1.33 price per square foot in the Chatham neighborhood. Here is today’s list of the best values for Fernwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
10437 S Hale Ave2BR/1.0BA2BR,1BA$2.38
8017 S Vernon Ave2BD/1BA2BR,1BA$1.33
1338 W 108th Pl1338 W 108th Pl4BR,2BA$2.50
10719 S Calumet Ave2 Bedroom 1 Bathroom Apartment2BR,1BA$1.34
915 W 95th St, Unit 2e915 W 95th St2BR,1BA$1.33
10320-28 S Walden Pkwy1BR/1.0BA1BR,1BA$3.18
Chatham Grove1 Bedroom, 1 Bath1BR,1BA$1.42
8004 S Eberhart Ave2BR/1.0BA2BR,1BA$2.15
11111 S Vernon2 Bedroom 1 Bath Apartment2BR,1BA$1.88
11214-18 S Indiana0BR/1.0BAStudio ,1BA$2.42

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Frequently Asked Questions about Fernwood

What type of rentals are currently available in Fernwood?

There are currently 326 Apartments for Rent in Fernwood, IL with pricing that ranges from $650 to $2,699. There are also 55 Single Family Homes for rent, Condos, and Townhome rentals currently available in Fernwood ranging from $1,025 to $3,495.

What is the current price range for Rental Homes in Fernwood?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Fernwood ranges from $1,025 to $3,495 with an average monthly rent of $1,885.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.