Cheap Homes for Rent in Elwin, IL from $500 (19 Rentals)

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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.

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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.

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Showing Results 1-19, 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

Best Value Apartments for Rent in Elwin, IL and Nearby

As of September 12, 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 2 Bedroom 1 Bathroom Model at West Mound Apartments starting at $900 with a $0.99 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
West Mound Apartments2 Bedroom 1 Bathroom2BR,1BA$0.99
Safe Harbor PropertiesDowntown1BR,1BA$1.03
2474 N FlorianUnit 112BR,1.5BA$1.06
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
Roosevelt School Apartments1 Bedroom1BR,1BA$0.61
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Moundford Terrace1 Bedroom 1 Bath1BR,1BA$1.07
RESERVE AT LAKEVIEWOne Bedroom One Bathroom1BR,1BA$0.69
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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Frequently Asked Questions about Elwin

What type of rentals are currently available in Elwin?

There are currently 40 Apartments for Rent in Elwin, IL with pricing that ranges from $403 to $1,750. There are also 47 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elwin ranging from $510 to $4,500.

What is the current price range for Rental Homes in Elwin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Elwin ranges from $510 to $4,500 with an average monthly rent of $1,694.

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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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.

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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.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.