Cheap Apartments for Rent in the Southwest Chicago Neighborhood of Chicago, IL from $500 (894 Rentals)

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

Southwest Chicago

Named as one of the Best Affordable Neighborhoods to rent in Chicago by our Chicago, IL Local Expert Nicole Harms. See how it ranks!

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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

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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 5445 Ingleside By 3L Living priced from $600. 1155 W 83rd St has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here are the most affordable Southwest Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$600
1155 W 83rd StStudioStudio,1BA$650
5540 Hyde Park by 3L Living_5540 - Single - NorthStudio,1BA$699
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$699
6246 S. King Dr.Two rm StudioStudio,1BA$750
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$750
7850 S Constance AveStudio ApartmentStudio,1BA$765
6306 S ArtesianStudioStudio,1BA$780
South Shore Beach ApartmentsStudioStudio,1BA$825

Best Value Apartments for Rent in Southwest Chicago, IL

As of April 14, 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 in the in the Oak Park Historic District neighborhood starting from $1,200. The second greatest value Southwest Chicago apartment is the 7837 S Peoria St Model at 7837 S Peoria St, Unit 1 starting at $2,650 with a $0.66 price per square foot in the Auburn Gresham 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 Ave908 Lyman Ave1BR,1BA$0.12
7837 S Peoria St, Unit 17837 S Peoria St4BR,3BA$0.66
7222 S Ridgeway Ave, Unit Apt 27222 S Ridgeway Ave3BR,1BA$0.41
7220 S Ridgeland Ave, Unit 17220 S Ridgeland Ave3BR,1BA$0.44
4820 S Champlain Ave, Unit Apt 34820 S Champlain Ave3BR,2BA$0.77
5536 W 63rd Plz, Unit 15536 W 63rd Plz1BR,1BA$0.63
7809 S Marshfield Ave, Unit 7809 South Marshfield #17809 S Marshfield Ave2BR,1BA$0.55
2118 W 51st St, Unit 1st floor2118 W 51st St2BR,1BA$1.00
2805 E 87th St, Unit 1-42805 E 87th St2BR,1BA$0.97
7944 S Lafayette Ave, Unit 27944 S Lafayette Ave2BR,1BA$0.93

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Pet Friendly Lifestyle
Southwest Chicago, Chicago, IL

Ranked #157

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 $825.

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 $3,600.

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 178 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 $285 which is $3,315 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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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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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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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.