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Rent Specials
$2,200 - $3,1002 to 3 Bedroom Apartments Available Now
Fountain Square
50 S Grove AveElgin, IL 60120
Cheap Apartments for Rent in the Downtown Elgin Neighborhood of Elgin, IL from $700 (26 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Elgin area of Elgin.
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2 to 3 Bedroom Apartments
Alfamerica LLC-398 E Chicago St
398 E Chicago StElgin, IL 60120
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4 Bedroom Apartments
10 N Gifford St
10 N Gifford StElgin, IL 60120
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1 Bedroom Apartments
70 S Chapel St
70 S Chapel StElgin, IL 60120
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1 to 4 Bedroom Apartments
255 N Spring St
255 N Spring StElgin, IL 60120
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Studio to 1 Bedroom Apartments
350 E Chicago St
350 E Chicago StElgin, IL 60120
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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Studio to 3 Bedroom Apartments
363 Prairie St
363 Prairie StElgin, IL 60120
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6 Bedroom Apartments
120-122 N Spring St
120-122 N Spring StElgin, IL 60120
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2 to 5 Bedroom Apartments
Fox River Townhomes
320 Watch CtElgin, IL 60120
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2 Bedroom Apartments
160 Kimball St
160 Kimball StElgin, IL 60120
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Studio to 3 Bedroom Apartments
132 S State St
132 S State StElgin, IL 60123
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2 to 4 Bedroom Apartments
288-290 Villa St
288-290 Villa StElgin, IL 60120
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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1 to 2 Bedroom Apartments
25 N Gifford St
25 N Gifford StElgin, IL 60120
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Studio Apartments
409-415 Division St
409-415 Division StElgin, IL 60120
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2 Bedroom Apartments
121-123 Hinsdell Pl
121-123 Hinsdell PlElgin, IL 60120
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2 to 3 Bedroom Apartments
85 S Crystal St
85 S Crystal StElgin, IL 60123
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Studio to 2 Bedroom Apartments
Roseanne Apartments
401 E Chicago StElgin, IL 60120
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Studio to 3 Bedroom Apartments
Elgin Artspace Lofts - For Artists Only
51 S Spring StElgin, IL 60120
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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1 to 2 Bedroom Apartments
Westwind Tower
104 S State StElgin, IL 60123
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1 to 2 Bedroom Apartments
Elgin Tower Lofts
100 E Chicago StElgin, IL 60120
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1 to 3 Bedroom Apartments
Buena Vista Towers
222 Locust StElgin, IL 60123
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Studio to 2 Bedroom Apartments
Center City Apartments
156 Division StElgin, IL 60120
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Studio to 1 Bedroom Apartments
314 E Chicago St
314 E Chicago StElgin, IL 60120
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Studio to 3 Bedroom Apartments
Regency Apartments
230 S State StElgin, IL 60123
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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Studio to 1 Bedroom Apartments
The Everett
379 Du Page StElgin, IL 60120
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Studio Apartments
Central Park Towers
120 S State StElgin, IL 60123
Showing Results 1-26, Page 1 of 1
Downtown Elgin, Elgin, IL Local Guide
How much does it cost to rent an apartment in Downtown Elgin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Elgin 2 Bedroom Apartments | $2,281 | $1,425 | $2,800 |
| Downtown Elgin 3 Bedroom Apartments | $2,550 | $2,000 | $3,100 |
Browse Apartments in this Neighborhood
There are currently 26 rentals with your search options within a 2 mile radius of the Downtown Elgin Neighborhood of Elgin, IL.
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Cheapest Available Downtown Elgin Apartments for Rent
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Fox River Townhomes | 3x1 | 3BR,1BA | $988 |
| Fountain Square | 2 Bed/ 2 Bath | 2BR,2BA | $2,200 |
Best Value Apartments for Rent in Downtown Elgin, IL
As of May 07, 2026 the best value apartment in the Downtown Elgin area is the $2.00 price per square foot 2 Bed/ 2 Bath/ Den Model at Fountain Square in the in the College Green neighborhood starting from $2,600. The second greatest value Downtown Elgin apartment is the 3x1 Model at Fox River Townhomes starting at $988 with a $1.02 price per square foot in the Beacon Pointe neighborhood. Here is today’s list of the best values for Downtown Elgin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fountain Square | 2 Bed/ 2 Bath/ Den | 2BR,2.5BA | $2.00 |
| Fox River Townhomes | 3x1 | 3BR,1BA | $1.02 |
Frequently Asked Questions about Cheap Downtown Elgin Apartments
What is the lowest price for a Cheap Two Bedroom Downtown Elgin Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Elgin is starting from $2,200 at Fountain Square.
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.
Helpful Local Expert Guides
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.
Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago
Written by: Nicole Harms
With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.
Best Neighborhoods to Rent in Near Chicago's Top Employers
Written by: Nicole Harms
Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.
Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago
Written by: Nicole Harms
From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.
Articles, How-To's, and Tips
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.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.