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$826 - $1,2021 to 2 Bedroom Apartments Contact Us For Availability
Fox River Crossing
300 N State StElgin, IL 60123
Cheap Apartments for Rent in the Parkwood Neighborhood of Elgin, IL from $700 (30 Rentals)
Search the lowest-cost Apartments available for rent right now in the Parkwood area of Elgin.
314 E Chicago St
ElginIL60120
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$1,0001 Bedroom Apartments Available Now
251-255 Villa St, Unit 253 Villa 2
251-255 Villa StElgin, IL 60120
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Rent Specials
$1,025 - $1,450Studio to 2 Bedroom Apartments Available Now
River's Landing
3 Times SqElgin, IL 60120
164 Oak St
ElginIL60123
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$1,156 - $1,7222 to 4 Bedroom Apartments Available Now
Squire Village Apartments
1146 Yew CtElgin, IL 60120
411 Wellington Ave
ElginIL60120
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.
214 Dupage St
ElginIL60120
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$1,375 - $3,1081 to 3 Bedroom Apartments Available Now
Blackhawk Apartment Homes
926 Congdon AveElgin, IL 60120
420 Prospect Blvd
ElginIL60120
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$1,9003 Bedroom Apartments Available Now
393 Wellington Ave, Unit 2
393 Wellington AveElgin, IL 60120
393 Wellington Ave
ElginIL60120
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Studio to 3 Bedroom Apartments
Regency Apartments
230 S State StElgin, IL 60123
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2 to 5 Bedroom Apartments
Fox River Townhomes
320 Watch CtElgin, 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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2 Bedroom Apartments
114 N Spring St
114 N Spring StElgin, IL 60120
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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
292 Villa St
ElginIL60120
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1 to 2 Bedroom Apartments
Westwind Tower
104 S State StElgin, IL 60123
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1 Bedroom Apartments
278 Douglas Ave
278 Douglas AveElgin, IL 60120
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1 Bedroom Apartments
269 Douglas Ave
269 Douglas AveElgin, IL 60120
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.
530 Locust St
ElginIL60123
119 Tennyson Ct
ElginIL60120
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1 to 2 Bedroom Apartments
Elgin Tower Lofts
100 E Chicago StElgin, IL 60120
3 National St
ElginIL60123
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2 Bedroom Apartments
333 Raymond St
326-334 Raymond StElgin, IL 60120
7 National St
ElginIL60123
1493 Keystone Ct
ElginIL60120
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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2 Bedroom Apartments
WC Kimball
52 N Crystal AveElgin, IL 60123
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2 to 3 Bedroom Apartments
Alfamerica LLC-398 E Chicago St
398 E Chicago StElgin, IL 60120
Showing Results 1-30, Page 1 of 1
Parkwood, Elgin, IL Local Guide
How much does it cost to rent an apartment in Parkwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Parkwood Studio Apartments | $1,025 | $1,025 | $1,025 |
| Parkwood 1 Bedroom Apartments | $1,340 | $826 | $1,635 |
| Parkwood 2 Bedroom Apartments | $1,743 | $967 | $2,800 |
| Parkwood 3 Bedroom Apartments | $2,540 | $1,900 | $3,100 |
| Parkwood 4 Bedroom Apartments | $10,058 | $1,482 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 30 rentals with your search options within a 2 mile radius of the Parkwood Neighborhood of Elgin, IL.
See all Apartments in ElginExplore Elgin
Parkwood, Elgin, IL Local Guide
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Cheapest Available Parkwood Apartments for Rent
The cheapest available apartment rental in the Parkwood area of Chicago, IL is a 3 Beds unit found at Fox River Townhomes priced from $988. Squire Village Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,156. Here are the most affordable Parkwood apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Fox River Townhomes | 3x1 | 3BR,1BA | $988 |
| Squire Village Apartments | 2BR/1.5BA | 2BR,1BA | $1,156 |
| River's Landing | 1 Bedroom 1 Bath 675 sq ft | 1BR,1BA | $1,235 |
| Blackhawk Apartment Homes | One Bedroom - 723 sqft | 1BR,1BA | $1,460 |
| Fountain Square | 2 Bed/ 2 Bath | 2BR,2BA | $2,200 |
Best Value Apartments for Rent in Parkwood, IL
As of April 12, 2026 the best value apartment in the Parkwood area is the $0.88 price per square foot 4BR/1.5BA Model at Squire Village Apartments in the in the Beacon Pointe neighborhood starting from $1,482. The second greatest value Parkwood apartment is the 2 Bed/ 2 Bath/ Den Model at Fountain Square starting at $2,600 with a $2.00 price per square foot in the Southeast Elgin Cook neighborhood. Here is today’s list of the best values for Parkwood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Squire Village Apartments | 4BR/1.5BA | 4BR,1.5BA | $0.88 |
| Fountain Square | 2 Bed/ 2 Bath/ Den | 2BR,2.5BA | $2.00 |
| Fox River Townhomes | 3x1 | 3BR,1BA | $1.02 |
| River's Landing | 2 Bedroom 1 Bath 775 sq ft | 2BR,1BA | $1.87 |
| Blackhawk Apartment Homes | One Bedroom - 723 sqft | 1BR,1BA | $2.04 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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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.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleQuick 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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Best Local Schools in Parkwood, Elgin, IL
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States and customized analysis for Northwest Chicago, IL. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and proximity to parks, kid and pet-friendly communities, availability of transit options, walking, and biking. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap Parkwood Apartments
What is the price of a cheap apartment in Parkwood?
The cheapest apartment in Parkwood is River's Landing which is listed at $1,235, while the average apartment in Parkwood costs $17,737.
What types of apartments are the cheapest in Parkwood?
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 2 regular apartments in Parkwood 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 Parkwood?
Cheap apartments in Parkwood have an average cost of $584 which is $17,153 cheaper than the average rent for all rentals in Parkwood.
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
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.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.