
Cheap Apartments for Rent near Elma, IA from $500 (43 Rentals)
Search the lowest-cost Apartments available for rent right now in Elma.


Key Apartments

18 S Adams Ave

Key West Apartments

The Meadows Apartments

Total Monthly Price
105 Main St S

Total Monthly Price
Flats on 21

Meadow Lake of Clear Lake Apartments
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.

Brentwood Estates Apartments

Pebble Creek Apartments

City Center Kent Apartments

Rolling Meadows Apartments

UNION HOUSE APARTMENTS

Thunder Ridge Apartments

The River

1200 Jade Apartments
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.

Wild Grove Apartments - 702 NICC

Total Monthly Price
Northern Place Apartments

Pilgrim Place Senior Housing (62+)

The Delaware - Luxury Apartment's in Mason City!

309 4th St

The Meadows

Total Monthly Price
Lincoln Apartments LLC

Total Monthly Price
Webster Apartments
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.

Federal Ave Rowhomes

Total Monthly Price
Cottages of Stewartville

Total Monthly Price
Parkview Place

Shalom Tower II

131 S Vine St

420 E Main St

The Manor

12 6th Ave NE
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.

802 9th Ave SE

Grant Village

806 Cedar River Dr NW

310 N Frederick Ave

714 2nd Ave NW

104 Main St S

621 Oak St

1111 4th St NW
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.

121 Main St S

912 2nd Ave NE

1207 9th St NE
Elma, IA Local Guide

How much does it cost to rent an apartment in Elma?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elma Studio Apartments | $1,145 | $500 | $1,425 |
| Elma 1 Bedroom Apartments | $1,325 | $200 | $1,915 |
| Elma 2 Bedroom Apartments | $1,545 | $700 | $2,279 |
| Elma 3 Bedroom Apartments | $1,513 | $850 | $2,594 |
| Elma 4 Bedroom Apartments | $1,718 | $937 | $2,500 |
Browse Top Apartments in Elma
See all Apartments in ElmaExplore Elma
Elma, IA Local Guide
- Nearby Cities
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Cheapest Available Elma Apartments for Rent and Nearby
 The cheapest available apartment rental in Elma, IA is a 1 Bed unit found at Regency Apartments priced from $200. Key Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here is today’s list of the most affordable Elma apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Regency Apartments | 1 BD | 1BR,1BA | $200 |
| Key Apartments | Efficiency | Studio,1BA | $500 |
| 18 S Adams Ave | One Bedroom | 1BR,1BA | $525 |
| Key West Apartments | Studio | Studio,1BA | $550 |
| The Meadows Apartments | Otter Creek 1Bd | 1BR,1BA | $620 |
| 105 Main St S | 1-bedroom | 1BR,1BA | $675 |
| Brentwood Estates Apartments | Brentwood Unfurnished | 1BR,1BA | $795 |
| City Center Kent Apartments | 1 Bedroom | 1BR,1BA | $800 |
| Thunder Ridge Apartments | 1 Bed/1 Bath Garden | 1BR,1BA | $870 |
| Rolling Meadows Apartments | 3 bedroom/2bath | 3BR,2BA | $975 |
Best Value Apartments for Rent in Elma, IA and Nearby
As of September 10, 2026 the best value apartment in the Elma area is the $1.26 price per square foot 3 Bed 2 Bath Model at UNION HOUSE APARTMENTS in the starting from $1,325. The second greatest value Elma apartment is the 3 bedroom/2bath Model at Rolling Meadows Apartments starting at $975 with a $0.96 price per square foot . Here is today’s list of the best values for Elma apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| UNION HOUSE APARTMENTS | 3 Bed 2 Bath | 3BR,2BA | $1.26 |
| Rolling Meadows Apartments | 3 bedroom/2bath | 3BR,2BA | $0.96 |
| Northern Place Apartments | Two Bedroom | 2BR,1BA | $1.08 |
| Lincoln Apartments LLC | Apt. 08 | 2BR,1BA | $1.46 |
| Brentwood Estates Apartments | Brentwood Unfurnished | 1BR,1BA | $1.32 |
| The Meadows Apartments | Otter Creek 1Bd | 1BR,1BA | $1.03 |
| City Center Kent Apartments | 1 Bedroom | 1BR,1BA | $1.33 |
| Regency Apartments | 1 BD | 1BR,1BA | $0.35 |
| 18 S Adams Ave | One Bedroom | 1BR,1BA | $0.95 |
| 105 Main St S | 1-bedroom | 1BR,1BA | $1.35 |
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 ArticleNavigating 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.
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 Elma, IA Rentals by Map
See the most popular apartments and homes in Elma, IA
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 Key Apartments listed at $500.
How much is rent for a Cheap One Bedroom Elma Apartment?
The lowest price for a Cheap One Bedroom Elma Apartment is $200 at Regency 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 $750 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 $850.
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.

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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.

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.