115 N Hickory St
JolietIL60435
Cheap Homes for Rent in Elwood, IL from $1,200 (10 Rentals)
Search the lowest-cost Homes available for rent right now in Elwood.
25709 W Bridge St
ChannahonIL60410
25365 S Fryer St
ChannahonIL60410
602 Meadowood Ln
WilmingtonIL60481
138 S 1st St
WilmingtonIL60481
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.
144 1st
WilmingtonIL60481
1704 Belleview Ave
RockdaleIL60436
204 E Washington St
JolietIL60433
1353 Lakeview Ave
RockdaleIL60436
121 Davis Ave
RockdaleIL60436
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.
Showing Results 1-10, 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 | $2,079 | $1,350 | $3,200 |
| Elwood 3 Bedroom Homes for Rent | $2,458 | $1,575 | $3,500 |
| Elwood 4 Bedroom Homes for Rent | $3,260 | $2,450 | $4,000 |
| Elwood 5 Bedroom Homes for Rent | $3,300 | $3,300 | $3,300 |
Browse Top Homes for Rent in Elwood
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Elwood, IL Local Guide
- Nearby Cities
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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 $1,179. 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 Classic | Studio,1BA | $1,179 |
| Tudor Park Apartments | Two Bedroom One Bathroom | 2BR,1BA | $1,209 |
Best Value Apartments for Rent in Elwood, IL and Nearby
As of July 05, 2026 the best value apartment in the Elwood area is the $1.40 price per square foot 3BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,090. The second greatest value Elwood apartment is the Augusta 1 Model at The Belvedere Apartments starting at $3,125 with a $2.35 price per square foot in the River Run 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 | $1.40 |
| The Belvedere Apartments | Augusta 1 | 3BR,2BA | $2.35 |
| Lincoln Station Rowhomes | C2 | 2BR,2BA | $2.39 |
| The Bluffs | B1G | 2BR,2BA | $2.40 |
| Pheasant Run Apartments | sc3s1.5 | 3BR,1.5BA | $1.77 |
| Stone Falls | Two Bedroom, Luxury Package | 2BR,1BA | $1.38 |
| Sixteen30 | A1 | 1BR,1BA | $2.31 |
| Tudor Park Apartments | Three Bedroom One Bathroom | 3BR,1BA | $1.64 |
| The Port | 1E | 1BR,1BA | $2.31 |
| Willow Run of Crest Hill | 1 bedroom | 1BR,1BA | $2.27 |
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
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.
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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.
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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 $4,829. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elwood ranging from $1,225 to $4,000.
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 $1,225 to $4,000 with an average monthly rent of $2,530.
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
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.