Cheap Apartments for Rent near Elkhart, IL from $400 (25 Rentals)

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Search the lowest-cost Apartments available for rent right now in Elkhart.

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.

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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.

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215 N 3rd St
1 to 2 Bedroom Apartments

215 N 3rd St

215 N 3rd StHartsburg, IL 62643

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Butler Place
2 Bedroom Apartments

Butler Place

3100 Butler StSpringfield, IL 62703
  • Utilities Included
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Pine Woods Apartments
1 to 3 Bedroom Apartments

Pine Woods Apartments

1665 Seven Pines RdSpringfield, IL 62704
  • Utilities Included

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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property at 300 Forrest Ave

$899

1 Bedroom, 1 Bath Home for Rent

Available Now

300 Forrest Ave

SpringfieldIL62702
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Elkhart, IL Local Guide

Cheapest Available Elkhart Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elkhart, IL is a 1 Bed unit found at Lincoln Senior Flats priced from $400. Whispering Pines Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. Here is today’s list of the most affordable Elkhart apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lincoln Senior Flats1 Bed 1 Bath1BR,1BA$400
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$600
Cobblestone ApartmentsCobblestone 1BD1BR,1BA$750
Safe Harbor Properties1 Bdr/ 1 Bath Private Balcony Capitol Views1BR,1BA$895
Ravenwood TownhomesTownhome2BR,1BA$895

Best Value Apartments for Rent in Elkhart, IL and Nearby

As of August 27, 2026 the best value apartment in the Elkhart area is the $0.90 price per square foot Townhome Model at Ravenwood Townhomes in the starting from $895. The second greatest value Elkhart apartment is the Townhouse Model at The Boulevard Townhomes starting at $975 with a $1.04 price per square foot . Here is today’s list of the best values for Elkhart apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ravenwood TownhomesTownhome2BR,1.5BA$0.90
The Boulevard TownhomesTownhouse2BR,1.5BA$1.04
Safe Harbor Properties2 Bdr 1 Bath with Balcony. Capitol View.2BR,1BA$1.08
Meadow View Landing2 Bedroom/1 Bath2BR,1BA$1.12
Lincoln Senior Flats2 Bed 1 Bath2BR,1BA$0.97
Huntington Ridge ApartmentsTwo Bedroom2BR,1BA$1.19
731 South Grand Ave W1/11BR,1BA$1.31
2474 N Florian62BR,1.5BA$1.13
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$1.32

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Elkhart, IL Rentals by Map

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Frequently Asked Questions about Cheap Elkhart Apartments

How much is rent for a Cheap One Bedroom Elkhart Apartment?

The lowest price for a Cheap One Bedroom Elkhart Apartment is $400 at Lincoln Senior Flats.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elkhart is starting from $725 at Whispering Pines Apartments.

What is the most affordable Elkhart Three Bedroom Apartment?

The best deal on a cheap Elkhart Three Bedroom Apartment rental is at Lincoln Tower Apartments and starts from $2,000.

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

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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.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.

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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.