115 Northern Dr
MorrisIL60450
Cheap Homes for Rent in Elwood, IL from $900 (13 Rentals)
Search the lowest-cost Homes available for rent right now in Elwood.
1715 Houston Ave
JolietIL60433
560 Ruby St
JolietIL60435
1101 S Cedar Rd
New LenoxIL60451
340 Marble St
JolietIL60435
505 E Jackson St
JolietIL60432
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.
509 Kungs Way
JolietIL60435
25731 W Bridge St
ChannahonIL60410
3101 Heritage Dr
JolietIL60435
144 1st
WilmingtonIL60481
204 E Washington St
JolietIL60433
116 Park St
ElwoodIL60421
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.
923 Jasper St
JolietIL60436
Showing Results 1-13, Page 1 of 1
Elwood, IL Local Guide
Sunrise over field by Claire Y. Martin is licensed under CC BY 2.0
How much does it cost to rent a home in Elwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elwood 2 Bedroom Homes for Rent | $1,520 | $1,000 | $2,350 |
| Elwood 3 Bedroom Homes for Rent | $2,440 | $2,000 | $2,800 |
| Elwood 4 Bedroom Homes for Rent | $3,350 | $2,600 | $4,000 |
| Elwood 5 Bedroom Homes for Rent | $3,950 | $3,100 | $4,800 |
Browse Top Homes for Rent in Elwood
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Elwood, IL Local Guide
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Cheapest Available Elwood Apartments for Rent and Nearby
The cheapest available apartment rental in Elwood, IL is a 1 Bed unit found at Stone Falls in the Sunset Point neighborhood priced from $949. The Woodlands of Crest Hill in the Rockdale Junction neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,169. Here is today’s list of the most affordable Elwood apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Stone Falls | One Bedroom, Base Package | 1BR,1BA | $949 |
| The Woodlands of Crest Hill | Studio C | Studio,1BA | $1,169 |
| 811 Covey Ln | 1x1 | 1BR,1BA | $1,200 |
| Tudor Park Apartments | Two Bedroom One Bathroom | 2BR,1BA | $1,209 |
| Bays Tower Apartments | Studio | 1BR,1BA | $1,250 |
Best Value Apartments for Rent in Elwood, IL and Nearby
As of April 01, 2026 the best value apartment in the Elwood area is the $1.47 price per square foot 3BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,240. The second greatest value Elwood apartment is the Haydenwood Model at Redwood Lockport starting at $2,624 with a $1.95 price per square foot in the Maple Hill neighborhood. Here is today’s list of the best values for Elwood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Alice Mae Townhomes | 3BR/3.5BA | 3BR,3.5BA | $1.47 |
| Redwood Lockport | Haydenwood | 2BR,2BA | $1.95 |
| Parkview Estates | 2BR/1.5BA | 2BR,1.5BA | $1.66 |
| Stone Falls | Two Bedroom, Luxury Package | 2BR,1BA | $1.38 |
| 811 Covey Ln | 1x1 | 1BR,1BA | $1.33 |
| The Bluffs | 1E | 1BR,1BA | $2.20 |
| Timber Pointe Apartments | Cypress | 1BR,1BA | $2.27 |
| Remington Apartment Homes | Tranquility | 1BR,1BA | $2.30 |
| Tudor Park Apartments | Three Bedroom One Bathroom | 3BR,1BA | $1.64 |
| Willow Run of Crest Hill | 1 bedroom | 1BR,1BA | $2.27 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
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 ArticleThe 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 ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
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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.
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Explore Elwood, IL Rentals by Map
See the most popular apartments and homes in Elwood, IL
Frequently Asked Questions about Elwood
What type of rentals are currently available in Elwood?
There are currently 45 Apartments for Rent in Elwood, IL with pricing that ranges from $895 to $4,355. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elwood ranging from $950 to $4,800.
What is the current price range for Rental Homes in Elwood?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Elwood ranges from $950 to $4,800 with an average monthly rent of $2,524.
How much are larger Three and Four Bedroom Rentals in Elwood?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Elwood range from $1,309 to $4,355, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $2,800. Four Bedroom Single-Family rentals are also available starting from $2,600 and Four Bedroom Apartments start at $4,069.
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
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.