517 E Chicago St
ElginIL60120
Cheap Homes for Rent in Parkwood Neighborhood of Elgin, IL from $800 (11 Rentals)
Search the lowest-cost Homes available for rent right now in the Parkwood area of Elgin.
close
View Me
40 Dupage Ct
ElginIL60120
318 North St
ElginIL60120
close
View Me
530 Locust St
ElginIL60123
23 N Channing St
ElginIL60120
close
View Me
661 Elma Ave
ElginIL60120
279 Bayview Rd
ElginIL60123
168 Harding St
ElginIL60123
Showing Results 1-11, Page 1 of 1
Parkwood, Elgin, IL Local Guide
Elgin Tower Building by Wiki User: Lillerphoto is licensed under CC BY-SA 3.0
How much does it cost to rent a home in Parkwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Parkwood 2 Bedroom Homes for Rent | $1,893 | $1,550 | $2,400 |
| Parkwood 3 Bedroom Homes for Rent | $2,767 | $2,290 | $3,250 |
| Parkwood 4 Bedroom Homes for Rent | $2,763 | $2,400 | $3,895 |
Browse Homes for Rent in this Neighborhood
There are currently 11 rentals with your search options within a 2 mile radius of the Parkwood Neighborhood of Elgin, IL.
Explore Elgin
Parkwood, Elgin, IL Local Guide
- Nearby Elgin neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Parkwood Apartments for Rent
The cheapest available apartment rental in the Parkwood area of Chicago, IL is a 1 Bed unit found at 278 Douglas Ave priced from $1,390. Blackhawk Apartment Homes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,470. Here are the most affordable Parkwood apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 278 Douglas Ave | Apt 1 | 1BR,1BA | $1,390 |
| Blackhawk Apartment Homes | One Bedroom - 723 sqft | 1BR,1BA | $1,470 |
| WC Kimball | 2 Bed 1 Bath | 2BR,1BA | $1,895 |
| Fountain Square | 1Bed/1Bath | 1BR,1BA | $1,900 |
| Princeton West Townhomes | Middle Unit | 3BR,4BA | $2,900 |
Best Value Apartments for Rent in Parkwood, IL
As of September 16, 2025 the best value apartment in the Parkwood area is the $1.31 price per square foot Four Bedroom Model at Princeton West Townhomes in the in the Beacon Pointe neighborhood starting from $3,400. The second greatest value Parkwood apartment is the 168 Harding St Model at 168 Harding St, Unit Duplex starting at $1,800 with a $1.38 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. |
|---|---|---|---|
| Princeton West Townhomes | Four Bedroom | 4BR,5BA | $1.31 |
| 168 Harding St, Unit Duplex | 168 Harding St | 2BR,1.5BA | $1.38 |
| WC Kimball | 2 Bed 1 Bath | 2BR,1BA | $1.58 |
| 443 Jefferson Ave, Unit #3 - 1 bed 1 bath | 443 Jefferson Ave | 1BR,1BA | $1.77 |
| Fountain Square | 1Bed/1Bath | 1BR,1BA | $2.32 |
| 278 Douglas Ave | Apt 1 | 1BR,1BA | $1.85 |
| Blackhawk Apartment Homes | One Bedroom - 700 sqft | 1BR,1BA | $2.12 |
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.
Let everyone know!
Do you know the Parkwood area?
If you’re an expert on all things Parkwood, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleParkwood, Elgin, IL
Ranked #24
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Parkwood, Elgin, IL
School data provided by Great Schools
Frequently Asked Questions about Parkwood
What type of rentals are currently available in Parkwood?
There are currently 99 Apartments for Rent in Parkwood, IL with pricing that ranges from $826 to $6,905. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Parkwood ranging from $800 to $3,895.
What is the current price range for Rental Homes in Parkwood?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Parkwood ranges from $800 to $3,895 with an average monthly rent of $2,024.
How much are larger Three and Four Bedroom Rentals in Parkwood?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Parkwood range from $1,600 to $3,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,290 to $3,250. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $2,400.
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.
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.
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.