Cheap Apartments for Rent in Elma, IA from $400 (21 Rentals)

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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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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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Showing Results 1-21, Page 1 of 1

Elma, IA Local Guide

Cheapest Available Elma Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elma, IA is a Studio unit found at Shalom Tower II priced from $405. Key Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here is today’s list of the most affordable Elma apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Shalom Tower IITower I EfficiencyStudio,1BA$405
Key ApartmentsEfficiencyStudio,1BA$450
City Center Kent ApartmentsStudio1BR,1BA$495
18 S Adams AveOne Bedroom1BR,1BA$525
131 S Vine St2021BR,1BA$550

Best Value Apartments for Rent in Elma, IA and Nearby

As of July 13, 2025 the best value apartment in the Elma area is the $1.09 price per square foot 2 Bed Updated Model at Wild Grove Apartments - 702 NICC in the starting from $950. The second greatest value Elma apartment is the 2 Bedroom 1.5 Bathroom Model at Meadow Lake of Clear Lake Apartments starting at $855 with a $1.03 price per square foot . Here is today’s list of the best values for Elma apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Wild Grove Apartments - 702 NICC2 Bed Updated2BR,1BA$1.09
Meadow Lake of Clear Lake Apartments2 Bedroom 1.5 Bathroom2BR,1.5BA$1.03
City Center Kent Apartments1 Bedroom1BR,1BA$0.74
Shalom Tower IITower II - One Bedroom1BR,1BA$0.70
Webster ApartmentsApt. 102BR,1BA$1.37
Lincoln Apartments LLCApt. 251BR,1BA$1.24
The Meadows ApartmentsMeadows 2Bd2BR,1BA$0.92
131 S Vine St2021BR,1BA$0.92
Rolling Meadows Apartments- 1 Bedroom/1 Bath Apartment in Excellent Loca...1BR,1BA$1.40
18 S Adams AveOne Bedroom1BR,1BA$0.95

Quick Rent Budget Calculator

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

Explore Elma, IA Rentals by Map

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See the most popular apartments and homes in Elma, IA

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Getting Around Elma, IA

Walk Score®

24 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Elma Apartments

What is the Cheapest Studio apartment in Elma?

Currently the most affordable Cheap Studio Apartment in Elma is at Shalom Tower II listed at $405.

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

The lowest price for a Cheap One Bedroom Elma Apartment is $495 at City Center Kent Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elma is starting from $700 at The Meadows Apartments.

What is the most affordable Elma Three Bedroom Apartment?

The best deal on a cheap Elma Three Bedroom Apartment rental is at The Meadows Apartments and starts from $750.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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.