Cheap Homes for Rent in Elizabeth, IL from $600 (15 Rentals)

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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 308 Hill St

308 Hill St

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Elizabeth, IL Local Guide

Cheapest Available Elizabeth Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elizabeth, IL is a Studio unit found at Riverside Apartments and Townhomes priced from $525. Roosevelt School Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $570. Here is today’s list of the most affordable Elizabeth apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Riverside Apartments and TownhomesStudioStudio,1BA$525
Roosevelt School Apartments1 bedroom1BR,1BA$570
Northland Park ApartmentsStudioStudio,1BA$625
College Suites Peosta3 Bedroom Apartment NOW Available - Price Per B...3BR,2BA$625
Greenfield96-a2BR,1BA$650

Best Value Apartments for Rent in Elizabeth, IL and Nearby

As of June 01, 2025 the best value apartment in the Elizabeth area is the $0.71 price per square foot 1378-a Model at Winmar Townhomes in the starting from $750. The second greatest value Elizabeth apartment is the 2 bedroom Model at Roosevelt School Apartments starting at $1,000 with a $1.00 price per square foot . Here is today’s list of the best values for Elizabeth apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Winmar Townhomes1378-a3BR,2BA$0.71
Roosevelt School Apartments2 bedroom2BR,1.5BA$1.00
Super 20 Mobile Home Park3 Bed 1 Bath3BR,1BA$0.96
Cottage Bluff Apartments2-Bedroom2BR,1BA$1.02
73 Manor Dr2 Bedroom2BR,1BA$0.92
Penn Place Apartments2 Bedroom/2 Bath2BR,1.5BA$1.05
Greenfield116-a2BR,1BA$0.72
Eagle Point Townhomes2 BR Townhome2BR,1BA$1.06
Westwinds2BD 1BA2BR,1BA$0.86
Kiwanis Manor Apartments3001 - updated2BR,1BA$1.00

Quick Rent Budget Calculator

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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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Frequently Asked Questions about Elizabeth

What type of rentals are currently available in Elizabeth?

There are currently 44 Apartments for Rent in Elizabeth, IL with pricing that ranges from $525 to $2,100. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elizabeth ranging from $650 to $4,000.

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 $650 to $4,000 with an average monthly rent of $1,469.

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 $625 to $1,850, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $1,500. Four Bedroom Single-Family rentals are also available starting from $1,625 and Four Bedroom Apartments start at $1,495.

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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.