Cheap Apartments for Rent in Elgin, IA from $500 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in Elgin.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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131 S Vine St
1 to 2 Bedroom Apartments

131 S Vine St

131 S Vine StWest Union, IA 52175
  • Utilities Included

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.

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124-136 Earl St
1 to 2 Bedroom Apartments

124-136 Earl St

124-136 Earl StEvansdale, IA 50707

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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Westwood Apartments
2 Bedroom Apartments

Westwood Apartments

3270-3320 W 4th StWaterloo, IA 50701
  • Utilities Included

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.

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Showing Results 1-36, Page 1 of 1

Elgin, IA Local Guide

Cheapest Available Elgin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elgin, IA is a 1 Bed unit found at The Meadows Apartments in the Southlawn Court neighborhood priced from $620. Meadow Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here is today’s list of the most affordable Elgin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Meadows ApartmentsOtter Creek 1Bd1BR,1BA$620
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Russell LamsonStudioStudio,1BA$652
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$760
Falls Edge StudiosStudio B REVStudio,1BA$800
Union at North Crossing1 Bed 1 Bath1BR,1BA$850
Park @ Nine23A11BR,1BA$850
Edgemont Park ApartmentsOne Bedroom Apartment With Poolside Balcony At ...1BR,1BA$915
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$920
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$995

Best Value Apartments for Rent in Elgin, IA and Nearby

As of June 06, 2026 the best value apartment in the Elgin area is the $1.16 price per square foot Two Bedroom (A2) Model at Arrow Ridge in the starting from $1,395. The second greatest value Elgin apartment is the 1st Month Free Model at Riverwalk Residences starting at $1,250 with a $1.19 price per square foot in the Downtown Waterloo neighborhood. Here is today’s list of the best values for Elgin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Arrow RidgeTwo Bedroom (A2)2BR,1BA$1.16
Riverwalk Residences1st Month Free2BR,2BA$1.19
Rush Mills: 505 EnterpriseThird Floor2BR,2BA$1.28
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
West Brook ApartmentsBrand New 2 Bedroom/2 Bathroom Units at West Br...2BR,2BA$1.15
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$1.31
Union at North Crossing1 Bed 1 Bath1BR,1BA$1.23
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.02
The Meadows ApartmentsOtter Creek 1Bd1BR,1BA$1.03

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

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!

Explore Elgin, IA Rentals by Map

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See the most popular apartments and homes in Elgin, IA

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Frequently Asked Questions about Cheap Elgin Apartments

What is the Cheapest Studio apartment in Elgin?

Currently the most affordable Cheap Studio Apartment in Elgin is at Russell Lamson listed at $652.

How much is rent for a Cheap One Bedroom Elgin Apartment?

The lowest price for a Cheap One Bedroom Elgin Apartment is $620 at The Meadows Apartments.

What is the lowest price for a Cheap Two Bedroom Elgin Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Elgin is starting from $750 at The Meadows Apartments.

What is the most affordable Elgin Three Bedroom Apartment?

The best deal on a cheap Elgin Three Bedroom Apartment rental is at The Meadows Apartments and starts from $850.

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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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.