
Cheap Homes for Rent in Elizabeth, IL from $300 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Elizabeth.


835 S Benton Ave

2017 Windsor Ave

943 High Bluff St

527 E Center St
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.

525 W Addison St

1941 Madison St

2060 Whittier St

1131 Main St

1330 Locust St
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.

1765 Madison St
Elizabeth, IL Local Guide

How much does it cost to rent a home in Elizabeth?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elizabeth 2 Bedroom Homes for Rent | $1,252 | $795 | $1,750 |
| Elizabeth 3 Bedroom Homes for Rent | $1,257 | $701 | $1,910 |
| Elizabeth 4 Bedroom Homes for Rent | $1,545 | $1,395 | $1,695 |
| Elizabeth 5 Bedroom Homes for Rent | $1,400 | $1,400 | $1,400 |
| Elizabeth 6 Bedroom Homes for Rent | $2,295 | $2,295 | $2,295 |
Browse Top Homes for Rent in Elizabeth
Explore Elizabeth
Elizabeth, IL Local Guide
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Cheapest Available Elizabeth Apartments for Rent and Nearby
 The cheapest available apartment rental in Elizabeth, IL is a Studio unit found at Northland Park Apartments priced from $625. 15 E Main St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Elizabeth apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northland Park Apartments | Studio | Studio,1BA | $625 |
| 15 E Main St | 1 Bed, 1 bath | 1BR,1BA | $650 |
| Pine View | 1 Bedroom 1 Bath Efficiency | 1BR,1BA | $669 |
| Prairie View Apartments | 32 Unit - Efficiency | Studio,1BA | $725 |
| Washington Senior Apartments | Studio | Studio,1BA | $750 |
Best Value Apartments for Rent in Elizabeth, IL and Nearby
As of June 01, 2026 the best value apartment in the Elizabeth area is the $0.78 price per square foot 3 Bed 2 Bath Model at Super 20 Mobile Home Park in the starting from $995. The second greatest value Elizabeth apartment is the Two Bedroom (A2) Model at Arrow Ridge starting at $1,395 with a $1.16 price per square foot . Here is today’s list of the best values for Elizabeth apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Super 20 Mobile Home Park | 3 Bed 2 Bath | 3BR,2BA | $0.78 |
| Arrow Ridge | Two Bedroom (A2) | 2BR,1BA | $1.16 |
| 201 - 207 West Win Heights | 201 - 2 Bed / 2 Bath | 2BR,2BA | $1.04 |
| 15 E Main St | 1 Bed, 1 bath | 1BR,1BA | $0.65 |
| Cottage Bluff Apartments | 2-Bedroom | 2BR,1BA | $1.10 |
| Eagle Point Townhomes | 2 BR Townhome | 2BR,1BA | $1.07 |
| Riverside Apartments and Townhomes | Two Bed, One Bath Townhome | 2BR,1BA | $1.03 |
| Maplewood Glen | 1 Bed 1 Bath | 1BR,1BA | $1.17 |
| Penn Place Apartments | 1 Bedroom | 1BR,1BA | $1.14 |
| Pine View | 1 Bedroom 1 Bath Efficiency | 1BR,1BA | $1.12 |
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 ArticleReal 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.
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Elizabeth
What type of rentals are currently available in Elizabeth?
There are currently 62 Apartments for Rent in Elizabeth, IL with pricing that ranges from $625 to $2,950. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elizabeth ranging from $350 to $2,300.
What is the current price range for Rental Homes in Elizabeth?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Elizabeth ranges from $350 to $2,300 with an average monthly rent of $1,404.
How much are larger Three and Four Bedroom Rentals in Elizabeth?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Elizabeth range from $945 to $1,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $701 to $1,910. Four Bedroom Single-Family rentals are also available starting from $1,395 and Four Bedroom Apartments start at $1,495.
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.
Articles, How-To's, and Tips

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.

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.