
Cheap Homes for Rent near Elizabeth, IL from $300 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Elizabeth.


597 Jefferson St
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

1215 Mt Pleasant St

102 E Market St
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

1124 Locust 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 | $1,283 | $770 | $1,700 |
| Elizabeth 3 Bedroom Homes for Rent | $1,352 | $875 | $2,250 |
| Elizabeth 4 Bedroom Homes for Rent | $2,050 | $1,350 | $2,750 |
| Elizabeth 5 Bedroom Homes for Rent | $550 | $550 | $550 |
Browse Top Homes for Rent in Elizabeth
Explore Elizabeth
Elizabeth, IL Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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. Pine View has the second lowest priced unit, which is a 1 Bed apartment currently listed from $669. 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 |
| Pine View | 1 Bedroom 1 Bath Efficiency | 1BR,1BA | $669 |
| Washington Senior Apartments | Studio | Studio,1BA | $750 |
Best Value Apartments for Rent in Elizabeth, IL and Nearby
As of August 17, 2026 the best value apartment in the Elizabeth area is the $0.95 price per square foot 3 Bedroom/2 Bath Model at Penn Place Apartments in the starting from $1,175. The second greatest value Elizabeth apartment is the Two Bedroom (A2) Model at Arrow Ridge starting at $1,250 with a $1.04 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. |
|---|---|---|---|
| Penn Place Apartments | 3 Bedroom/2 Bath | 3BR,1.5BA | $0.95 |
| Arrow Ridge | Two Bedroom (A2) | 2BR,1BA | $1.04 |
| 1182 Locust St | Apt 4 | 1BR,1BA | $0.93 |
| Cottage Bluff Apartments | 2-Bedroom | 2BR,1BA | $1.10 |
| Willowbrook Glen Apartments | Two Bed | 2BR,1BA | $0.91 |
| 15 E Main St | 3 Bed 1 Bath | 3BR,1BA | $1.08 |
| Riverside Apartments and Townhomes | Two Bed, One Bath Townhome | 2BR,1BA | $1.03 |
| Westwinds | 2BD 1BA | 2BR,1BA | $0.86 |
| Ruxton Apartments | 2A | 2BR,2BA | $0.98 |
| 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!
Explore Elizabeth, IL Rentals by Map
See the most popular apartments and homes in Elizabeth, IL
Frequently Asked Questions about Elizabeth
What type of rentals are currently available in Elizabeth?
There are currently 65 Apartments for Rent in Elizabeth, IL with pricing that ranges from $625 to $2,100. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elizabeth ranging from $300 to $2,750.
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 $300 to $2,750 with an average monthly rent of $1,183.
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 $1,835, while Three Bedroom Homes, Condos, and Townhomes for rent range from $875 to $2,250. Four Bedroom Single-Family rentals are also available starting from $1,350 and Four Bedroom Apartments start at $1,573.
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

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.