Cheap Apartments for Rent in Elwin, IL from $400 (16 Rentals)

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

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 1-16, 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 Rider Place priced from $500. RESERVE AT LAKEVIEW has the second lowest priced unit, which is a 2 Beds apartment currently listed from $507. Here is today’s list of the most affordable Elwin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rider Place1 Bedroom1BR,1BA$500
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
The Hickox CollectionThe HickoxStudio,1BA$598
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$625
Denison PlaceOne Bedroom1BR,1BA$675

Best Value Apartments for Rent in Elwin, IL and Nearby

As of June 05, 2025 the best value apartment in the Elwin area is the $0.88 price per square foot Townhome Model at Ravenwood Townhomes in the starting from $875. The second greatest value Elwin apartment is the B1 Model at Candles starting at $1,000 with a $1.04 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.
Ravenwood TownhomesTownhome2BR,1.5BA$0.88
CandlesB12BR,1.5BA$1.04
Safe Harbor PropertiesWalk to work. Capitol View. WIFI Included.2BR,1BA$1.03
3TENB12BR,1BA$1.07
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
Huntington Ridge ApartmentsTwo Bedroom2BR,1BA$1.10
Denison PlaceOne Bedroom1BR,1BA$0.84
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Rider Place1 Bedroom1BR,1BA$0.92

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

Explore Elwin, IL Rentals by Map

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See the most popular apartments and homes in Elwin, IL

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Frequently Asked Questions about Cheap Elwin Apartments

What is the Cheapest Studio apartment in Elwin?

Currently the most affordable Cheap Studio Apartment in Elwin is at The Hickox Collection listed at $598.

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

The lowest price for a Cheap One Bedroom Elwin Apartment is $500 at Rider Place.

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 Rider Place and starts from $675.

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.

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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.