Cheap Apartments for Rent in Elmwood, IL from $547 (45 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Elm Haven
1 to 2 Bedroom Apartments

Elm Haven

101 N Rose StElmwood, IL 61529
Senior Living

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.

Read Article

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.

Read Article
close
View Me
Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
close
View Me
Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
close
View Me
301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536
close
View Me
Willow Way
1 to 2 Bedroom Apartments

Willow Way

2630 W Willowlake DrPeoria, IL 61614
  • Smoke Free

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.

Read Article

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.

Read Article

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.

Read Article
Showing Results 1-45, Page 1 of 1

Elmwood, IL Local Guide

Cheapest Available Elmwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elmwood, IL is a Studio unit found at Willow Knolls Apartments in the Northmoor Knolls neighborhood priced from $799. Hollybrook Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Elmwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Willow Knolls ApartmentsStudio / 1 BathStudio,1BA$799
Hollybrook Apartments1 bedroom1BR,1BA$800
Forest Hills Apartments1x11BR,1BA$854
Hollow Hills Apartments1 Bed / 1 Bath (615 sqft)1BR,1BA$875
Nordic Villa ApartmentsLoft1BR,1BA$875
ASPEN BLUFF APARTMENTSTwo Bedrooms Two Bathroom2BR,2BA$969
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR,1BA$975
Hillcrest Apartments2 BR / 1 BA2BR,1BA$979
Brandywine Crossing Apartments2 Bedroom 1 Bath2BR,1BA$1,004
Kellogg Place Apartments2 Bed / 1 Bath2BR,1BA$1,025

Best Value Apartments for Rent in Elmwood, IL and Nearby

As of September 05, 2026 the best value apartment in the Elmwood area is the $1.18 price per square foot 3 Bedroom 2 Bath Model at Eagle Point Apartments in the in the Northmoor Knolls neighborhood starting from $1,600. The second greatest value Elmwood apartment is the 2 Bedroom, 2 Bath Model at Camden Hills Apartments starting at $1,300 with a $1.23 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Elmwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle Point Apartments3 Bedroom 2 Bath2BR,2BA$1.18
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Covington Court ApartmentsCC2BR2BR,2BA$1.26
ASPEN BLUFF APARTMENTSThree Bedrooms Two Bathroom3BR,2BA$1.14
Covington Place2BR/1.5BA Signature In Unit Wash/Dryer2BR,1.5BA$1.15
Brandywine Crossing Apartments2 Bedroom 2 Bath2BR,2BA$1.14
Kellogg Place Apartments2 Bed / 1 Bath2BR,1BA$1.17
Forest Hills Apartments1x11BR,1BA$1.00
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.15
Hollybrook Apartments1 bedroom1BR,1BA$1.03

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 Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

Quick 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.

decorative image of people with a giant lease agreement

Best Local Schools in
Elmwood, IL

School data provided by Great Schools

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

Explore Elmwood, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Elmwood, IL

View Map
Elmwood, IL Apartments Map
View Map
Elmwood, IL Rental Homes Map

Frequently Asked Questions about Cheap Elmwood Apartments

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

The lowest price for a Cheap One Bedroom Elmwood Apartment is $800 at Hollybrook Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elmwood is starting from $900 at Hollybrook Apartments.

What is the most affordable Elmwood Three Bedroom Apartment?

The best deal on a cheap Elmwood Three Bedroom Apartment rental is at The Grove Apartments and starts from $1,475.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

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.

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

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.