Cheap Apartments for Rent in the Near South Side Neighborhood of Chicago, IL from $800 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in the Near South Side area of Chicago.

Prairie Shores

1000M

Eden Commons

21st Street Lofts by 3L Living

1000 S Clark St, Unit FL21-ID1223

1000 S Clark St

2101 Michigan

1200 S Michigan Ave

820 Michigan by 3L Living
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

30 East Roosevelt

Park Michigan - 1212 S Michigan Ave
Near South Side, Chicago, IL Local Guide

How much does it cost to rent an apartment in Near South Side?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Near South Side Studio Apartments | $2,452 | $1,059 | $4,394 |
Near South Side 1 Bedroom Apartments | $2,972 | $1,389 | $7,221 |
Near South Side 2 Bedroom Apartments | $4,568 | $1,666 | $10,000+ |
Near South Side 3 Bedroom Apartments | $6,791 | $1,871 | $10,000+ |
Near South Side 4 Bedroom Apartments | $5,250 | $996 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 20 rentals with your search options within a 1 mile radius of the Near South Side Neighborhood of Chicago, IL.
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Near South Side, Chicago, IL Local Guide
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Cheapest Available Near South Side Apartments for Rent
 The cheapest available apartment rental in the Near South Side area of Chicago, IL is a 4 Beds unit found at McCormick priced from $996. Prairie Shores has the second lowest priced unit, which is a Studio apartment currently listed from $1,059. Here are the most affordable Near South Side apartments for rent in Chicago, IL:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
McCormick | Private Bedroom in Shared 4 Bed 3 Bath (D) | 4BR,3BA | $996 |
Prairie Shores | Classic Studio | Studio,1BA | $1,059 |
2101 Michigan | Studio | Studio,1BA | $1,634 |
Eden Commons | Two Bedroom | 2BR,1BA | $1,713 |
Park Michigan - 1212 S Michigan Ave | Studio 1ba 03 | Studio,1BA | $1,762 |
Best Value Apartments for Rent in Near South Side, IL
As of March 23, 2025 the best value apartment in the Near South Side area is the $1.87 price per square foot 2550 S Wabash Ave Model at 2550 S Wabash Ave in the in the Near South Side neighborhood starting from $3,350. The second greatest value Near South Side apartment is the 2 BED 2 BATH LOFT STYLE Model at Carriage House Lofts starting at $2,747 with a $2.35 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Near South Side apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
2550 S Wabash Ave | 2550 S Wabash Ave | 3BR,2BA | $1.87 |
Carriage House Lofts | 2 BED 2 BATH LOFT STYLE | 2BR,2BA | $2.35 |
Wells Place Apartments | 2 Bed 2 Bath B4 | 2BR,2BA | $2.60 |
240 W 24th St, Unit Coach House | 240 W 24th St | 2BR,1.5BA | $1.67 |
1234 S Michigan Ave, Unit 1310 | 1234 S Michigan Ave | 1BR,1BA | $1.85 |
2310 S Canal St, Unit 203 | 2310 S Canal St | 2BR,1BA | $2.15 |
1464 S Michigan Ave | 1464 S Michigan Ave | 2BR,2BA | $2.45 |
Eden Commons | Two Bedroom | 2BR,1BA | $2.18 |
1000 S Clark St, Unit FL21-ID1223 | 1000 S Clark St | 1BR,1BA | $2.25 |
1140 S Wabash Ave, Unit 1311 | 1140 S Wabash Ave | Studio ,1BA | $2.59 |
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Pet Friendly LifestyleNear South Side, Chicago, IL
Ranked #27
Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Cheap Near South Side Apartments
What is a cheap apartment in Near South Side?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near South Side is under $1,850.
What is the price of a cheap apartment in Near South Side?
The cheapest apartment in Near South Side is Prairie Shores which is listed at $1,379, while the average apartment in Near South Side costs $6,711.
What types of apartments are the cheapest in Near South Side?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 30 regular apartments in Near South Side that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Near South Side?
Cheap apartments in Near South Side have an average cost of $164 which is $6,547 cheaper than the average rent for all rentals in Near South Side.
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.

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.

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.

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.

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.