Cheap Apartments for Rent in Elwin, IL from $400 (26 Rentals)

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

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

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

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 Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Showing Results 1-26, Page 1 of 1

Elwin, IL Local Guide

Cheapest Available Elwin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elwin, IL is a 1 Bed unit found at RESERVE AT LAKEVIEW priced from $421. Roosevelt School Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $461. Here is today’s list of the most affordable Elwin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$421
Roosevelt School Apartments1 Bedroom1BR,1BA$461
Rider Place1 Bedroom1BR,1BA$500
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$625
The Hickox CollectionThe HickoxStudio,1BA$628
Moundford Terrace1 Bedroom 1 Bath1BR,1BA$655
Whispering Pines Apartments1 Bed, 1 Bath - Essential1BR,1BA$700
Cobblestone ApartmentsCobblestone 1BD1BR,1BA$750
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$875

Best Value Apartments for Rent in Elwin, IL and Nearby

As of October 05, 2025 the best value apartment in the Elwin area is the $1.04 price per square foot C1 Model at Candles in the starting from $1,206. The second greatest value Elwin apartment is the Townhome Model at Ravenwood Townhomes starting at $875 with a $0.88 price per square foot . Here is today’s list of the best values for Elwin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
CandlesC13BR,2BA$1.04
Ravenwood TownhomesTownhome2BR,1.5BA$0.88
Safe Harbor PropertiesDowntown1BR,1BA$1.03
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
Roosevelt School Apartments1 Bedroom1BR,1BA$0.61
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$0.69
Moundford Terrace1 Bedroom 1 Bath1BR,1BA$1.07
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16
Rider Place1 Bedroom1BR,1BA$0.92

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

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Frequently Asked Questions about Cheap Elwin Apartments

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

The lowest price for a Cheap One Bedroom Elwin Apartment is $421 at RESERVE AT LAKEVIEW.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elwin is starting from $507 at RESERVE AT LAKEVIEW.

What is the most affordable Elwin Three Bedroom Apartment?

The best deal on a cheap Elwin Three Bedroom Apartment rental is at Roosevelt School Apartments and starts from $613.

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.