Cheap Apartments for Rent in the Southwest Elgin Neighborhood of Elgin, IL from $700 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southwest Elgin area of 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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1698 Alison Dr
2 Bedroom Apartments

1698 Alison Dr

1698 Alison DrElgin, IL 60123
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61 N Aldine Ave
Studio to 2 Bedroom Apartments

61 N Aldine Ave

61 N Aldine AveElgin, IL 60123
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1459 Meyer St
Studio Apartments

1459 Meyer St

1459 Meyer StElgin, IL 60123
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1489 Meyer St
6 Bedroom Apartments

1489 Meyer St

1489 Meyer StElgin, IL 60123
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313 Kathleen Dr
1 to 2 Bedroom Apartments

313 Kathleen Dr

313 Kathleen DrElgin, IL 60123
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Part of PID: 9813701
1 to 2 Bedroom Apartments

Part of PID: 9813701

34 Surrey DrElgin, IL 60123
  • Utilities Included
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70 S Chapel St
1 Bedroom Apartments

70 S Chapel St

70 S Chapel StElgin, IL 60120
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520 Walnut Ave
1 Bedroom Apartments

520 Walnut Ave

520 Walnut AveElgin, IL 60123

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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10 N Gifford St
4 Bedroom Apartments

10 N Gifford St

10 N Gifford StElgin, IL 60120
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33 Lynch St
Studio to 3 Bedroom Apartments

33 Lynch St

33 Lynch StElgin, IL 60123
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1529 Meyer St
1 Bedroom Apartments

1529 Meyer St

1529 Meyer StElgin, IL 60123
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6 S Union St
1 Bedroom Apartments

6 S Union St

6 S Union StElgin, IL 60123
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350 E Chicago St
Studio to 1 Bedroom Apartments

350 E Chicago St

350 E Chicago StElgin, IL 60120
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River West Commons
Studio to 2 Bedroom Apartments

River West Commons

719 W Highland AveElgin, IL 60123
  • Utilities Included
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Roseanne Apartments
Studio to 2 Bedroom Apartments

Roseanne Apartments

401 E Chicago StElgin, IL 60120
  • Utilities Included

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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Burnham Manor - 62 & Over
1 to 2 Bedroom Apartments

Burnham Manor - 62 & Over

1350 Fleetwood DrElgin, IL 60123
Senior Living
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Westwind Tower
1 to 2 Bedroom Apartments

Westwind Tower

104 S State StElgin, IL 60123
Senior Living
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Elgin Tower Lofts
1 to 2 Bedroom Apartments

Elgin Tower Lofts

100 E Chicago StElgin, IL 60120
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WC Kimball
2 Bedroom Apartments

WC Kimball

52 N Crystal AveElgin, IL 60123
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314 E Chicago St
Studio to 1 Bedroom Apartments

314 E Chicago St

314 E Chicago StElgin, IL 60120
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Center City Apartments
Studio to 2 Bedroom Apartments

Center City Apartments

156 Division StElgin, IL 60120
Senior Living
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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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River Crossing
1 Bedroom Apartments

River Crossing

15-85 N Woodbury StSouth Elgin, IL 60177
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401 Ann St
1 to 2 Bedroom Apartments

401 Ann St

401 Ann StSouth Elgin, IL 60177
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Fox Ridge Apartments
2 Bedroom Apartments

Fox Ridge Apartments

643 Dean DrSouth Elgin, IL 60177
  • Utilities Included
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Marison Mill Suites
1 to 2 Bedroom Apartments

Marison Mill Suites

126 N Center StSouth Elgin, IL 60177
Senior Living
  • Utilities Included

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.

Southwest Elgin, Elgin, IL Local Guide

Cheapest Available Southwest Elgin Apartments for Rent

 

The cheapest available apartment rental in the Southwest Elgin area of Chicago, IL is a Studio unit found at 39 Surrey Dr priced from $1,100. River's Landing Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,235. Here are the most affordable Southwest Elgin apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
39 Surrey Dr39 Surrey DriveStudio,1BA$1,100
River's Landing Apartments1 Bedroom 1 Bath 675 sq ft1BR,1BA$1,235
Royal Ridge ApartmentsStudioStudio,1BA$1,250
Authentix South ElginStudio Retreat CourtyardStudio,1BA$1,705
Springs At South Elgin1 BR Grand Courtyard1BR,1BA$1,824
Panton Mill StationThe Beech1BR,1BA$1,864
Seasons at Elgin1B1BR,1BA$1,945
Fountain Square2 Bed/ 2 Bath2BR,2BA$2,200

Best Value Apartments for Rent in Southwest Elgin, IL

As of June 08, 2026 the best value apartment in the Southwest 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 Southwest Elgin apartment is the The Beech Model at Panton Mill Station starting at $1,864 with a $2.21 price per square foot in the Valley View neighborhood. Here is today’s list of the best values for Southwest Elgin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fountain Square2 Bed/ 2 Bath/ Den2BR,2.5BA$2.00
Panton Mill StationThe Beech1BR,1BA$2.21
Springs At South Elgin1 BR Grand Courtyard1BR,1BA$2.24
River's Landing Apartments2 Bedroom 1 Bath 775 sq ft2BR,1BA$1.87
Seasons at Elgin1B1BR,1BA$2.59
39 Surrey Dr39 Surrey DriveStudio ,1BA$1.69
Authentix South ElginStudio Horizon OverlookStudio ,1BA$3.15
Royal Ridge ApartmentsStudioStudio ,1BA$2.50

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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, metropolitan areas, and rental properties across Illinois and customized analysis for West 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 rankings of the best places for easy access to the parks, luxury amenities, pet-friendly features, features that make it easier to raise kids, proximity to transit, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Southwest Elgin Apartments

What is the Cheapest Studio apartment in Southwest Elgin?

Currently the most affordable Cheap Studio Apartment in Southwest Elgin is at 39 Surrey Dr listed at $1,100.

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

The lowest price for a Cheap One Bedroom Southwest Elgin Apartment is $1,235 at River's Landing Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Southwest Elgin is starting from $1,450 at River's Landing Apartments.

What is the most affordable Southwest Elgin Three Bedroom Apartment?

The best deal on a cheap Southwest Elgin Three Bedroom Apartment rental is at Authentix South Elgin and starts from $2,436.

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

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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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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.

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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.

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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

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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

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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.