Cheap Apartments for Rent in the Southwest Chicago Neighborhood of Chicago, IL from $500 (936 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southwest Chicago area of Chicago.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Southwest Chicago, Chicago, IL Local Guide

Cheapest Available Southwest Chicago Apartments for Rent

 

The cheapest available apartment rental in the Southwest Chicago area of Chicago, IL is a Studio unit found at 1155 W 83rd St priced from $650. 5748 Blackstone By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Southwest Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1155 W 83rd StStudioStudio,1BA$650
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$699
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$699
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
6246 S. King Dr.Two rm StudioStudio,1BA$750
5540 Hyde Park by 3L LivingEfficiency Studio - WestStudio,1BA$769
6306 S ArtesianStudioStudio,1BA$770
South Shore Beach ApartmentsStudioStudio,1BA$825
6238-44 S Western AveStudioStudio,1BA$830
The Townhouse ApartmentsStudio, 1 bathStudio,1BA$850

Best Value Apartments for Rent in Southwest Chicago, IL

As of May 17, 2025 the best value apartment in the Southwest Chicago area is the $0.12 price per square foot 908 Lyman Ave Model at 908 Lyman Ave, Unit 2a in the in the Oak Park Historic District neighborhood starting from $1,225. The second greatest value Southwest Chicago apartment is the 4820 S Keeler Ave Model at 4820 S Keeler Ave, Unit 2 starting at $1,700 with a $0.37 price per square foot in the West Elsdon neighborhood. Here is today’s list of the best values for Southwest Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
908 Lyman Ave, Unit 2a908 Lyman Ave1BR,1BA$0.12
4820 S Keeler Ave, Unit 24820 S Keeler Ave3BR,1BA$0.37
8518 S Bennett Ave, Unit 38518 S Bennett Ave3BR,1BA$0.43
5817 W 16th St, Unit First Floor5817 W 16th St4BR,2BA$0.76
3421 W Adams St, Unit 3421 W Adams Unit 2 Floor3421 W Adams St3BR,2BA$1.08
4529 S Vincennes Ave, Unit 4529 S Vincennes Ave #34529 S Vincennes Ave3BR,2BA$1.00
8046 S Maryland Ave, Unit 1st floor8046 S Maryland Ave2BR,1BA$0.60
8010 S Marshfield Ave, Unit 28010 S Marshfield Ave2BR,1BA$0.87
8915 S Exchange Ave, Unit 38915 S Exchange Ave4BR,1BA$1.07
7944 S Lafayette Ave, Unit 17944 S Lafayette Ave2BR,1BA$0.93

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Southwest Chicago, Chicago, IL

Ranked #160

Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Southwest Chicago, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for South Chicago, IL. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, transit availability, pet-friendly communities, places that make kids happy, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Southwest Chicago Apartments

What is a cheap apartment in Southwest Chicago?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southwest Chicago is under $850.

What is the price of a cheap apartment in Southwest Chicago?

The cheapest apartment in Southwest Chicago is 1155 W 83rd St which is listed at $750, while the average apartment in Southwest Chicago costs $3,300.

What types of apartments are the cheapest in Southwest Chicago?

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 167 regular apartments in Southwest Chicago 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 Southwest Chicago?

Cheap apartments in Southwest Chicago have an average cost of $289 which is $3,011 cheaper than the average rent for all rentals in Southwest Chicago.

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.

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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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.