Cheap Homes for Rent in Southwest Elgin Neighborhood of Elgin, IL from $800 (6 Rentals)

Search the lowest-cost Homes available for rent right now in the Southwest Elgin area of Elgin.

$850

1 Bedroom, 1 Bath Rentals

Available Now

314 E Chicago St

ElginIL60120

$1,350

2 Bedroom, 1 Bath Townhome for Rent

Available Now

292 Villa St

ElginIL60120

$1,499

Total Monthly Price

2 Bedroom, 1 Bath Condo for Rent

Available Now

65 N Aldine St, Unit 2, Unit 2

65 N Aldine St

ElginIL60123

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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$1,500

2 Bedroom, 1 Bath Condo for Rent

Available Now

530 Locust St

ElginIL60123

$1,550

2 Bedroom, 1 Bath Condo for Rent

Available Now

11 Crighton Ave

ElginIL60123

$1,600

3 Bedroom, 1 Bath Condo for Rent

Available Now

3 National St

ElginIL60123

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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Showing Results 1-6, Page 1 of 1

Southwest Elgin, Elgin, IL Local Guide

How much does it cost to rent a home in Southwest Elgin?

Bedroom	Average Rent	Cheapest Rent	Highest Rent
Southwest Elgin 2 Bedroom Homes for Rent	$1,881	$1,350	$2,500
Southwest Elgin 3 Bedroom Homes for Rent	$2,050	$1,600	$2,750
Southwest Elgin 4 Bedroom Homes for Rent	$3,750	$3,000	$4,500
Southwest Elgin 5 Bedroom Homes for Rent	$4,500	$4,500	$4,500

Browse Homes for Rent in this Neighborhood

There are currently 6 rentals with your search options within a 2 mile radius of the Southwest Elgin Neighborhood of Elgin, IL.

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Southwest Elgin, Elgin, IL Local Guide

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Cheapest Available Southwest Elgin Apartments for Rent

The cheapest available apartment rental in the Southwest Elgin area of Chicago, IL is a 1 Bed unit found at River's Landing Apartments priced from $1,235. Royal Ridge Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,250. Here are the most affordable Southwest Elgin apartments for rent in Chicago, IL:

Apartment Listing	Model Name	Bed/Bath	Priced From
River's Landing Apartments	1 Bedroom 1 Bath 675 sq ft	1BR,1BA	$1,235
Royal Ridge Apartments	Studio	Studio,1BA	$1,250
Springs At South Elgin	Studio Grand Overlook	Studio,1BA	$1,615

Best Value Apartments for Rent in Southwest Elgin, IL

As of April 24, 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 2 Bedroom 1 Bath 775 sq ft Model at River's Landing Apartments starting at $1,450 with a $1.87 price per square foot in the Beacon Pointe neighborhood. Here is today’s list of the best values for Southwest 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
River's Landing Apartments	2 Bedroom 1 Bath 775 sq ft	2BR,1BA	$1.87
Panton Mill Station	The Linden	1BR,1BA	$2.28
Springs At South Elgin	1 BR Designer Courtyard Garage	1BR,1BA	$2.75
Seasons at Elgin	1B	1BR,1BA	$2.59
Authentix South Elgin	Studio Horizon Overlook	Studio ,1BA	$3.19
Royal Ridge Apartments	Studio	Studio ,1BA	$2.50

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.

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The 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.

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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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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.

Best Local Schools in
Southwest Elgin, Elgin, IL

Harriet Gifford Elementary School

School District U-46

Public School - Grades PK-5 (461)

5 out of 10

Larkin High School

School District U-46

Public School - Grades 9-12 (2264)

2 out of 10

Abbott Middle School

School District U-46

Public School - Grades 6-8 (551)

1 out of 10

School data provided by Great Schools

Frequently Asked Questions about Southwest Elgin

What type of rentals are currently available in Southwest Elgin?

There are currently 97 Apartments for Rent in Southwest Elgin, IL with pricing that ranges from $1,025 to $3,195. There are also 15 Single Family Homes for rent, Condos, and Townhome rentals currently available in Southwest Elgin ranging from $850 to $4,500.

What is the current price range for Rental Homes in Southwest Elgin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Southwest Elgin ranges from $850 to $4,500 with an average monthly rent of $2,606.

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.

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