Cheap Apartments for Rent in Elwood, IN from $600 (43 Rentals)

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

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2930 Albright
1 Bedroom Apartments

2930 Albright

2930 Albright RdKokomo, IN 46902
  • Utilities Included

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Elwood, IN Local Guide

Cheapest Available Elwood Apartments for Rent

 

The cheapest available apartment rental in Elwood, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior priced from $250. Lincolnwood Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Elwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Lincolnwood Apartments1BR/1BA1BR,1BA$700
Harter HouseRoseStudio,1BA$749
First Flats1bed/1bath Non-Renovated1BR,1BA$750
Fox Acres Apartments1 Bed Room1BR,1BA$755
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
410 - WINDING BROOK APARTMENTS1 Bedroom - 2nd Floor1BR,1BA$829
Applecreek.The Washington1BR,1BA$865
Cedar Ridge TownhomesThe Fir2BR,1BA$900
Turnberry Square Apartments2 bed/2 bath2BR,2BA$915

Best Value Apartments for Rent in Elwood, IN

As of August 17, 2025 the best value apartment in the Elwood area is the $1.12 price per square foot 2 Beds, 2 Baths Model at Tin Plate Apartments in the starting from $1,195. The second greatest value Elwood apartment is the Two Bedroom Model at Grissom Estates Apartments starting at $1,110 with a $1.16 price per square foot in the Wareham's Pond neighborhood. Here is today’s list of the best values for Elwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Tin Plate Apartments2 Beds, 2 Baths2BR,2BA$1.12
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1.16
Turnberry Square Apartments2 bed/2 bath2BR,2BA$1.19
Spacious 1, 2 & 3 Bedrooms!2H2BR,1BA$1.22
Fox Acres Apartments1 Bed Room1BR,1BA$1.01
Cross Lakes Apartments1x1WD R-Prem1BR,1BA$1.33
Cedar Ridge TownhomesThe Fir2BR,1BA$1.20
410 - WINDING BROOK APARTMENTS1 Bedroom - 1st Floor1BR,1BA$1.28
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45
Lincolnwood Apartments1BR/1BA1BR,1BA$1.36

Quick 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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Pet Friendly Lifestyle
Elwood, IN

Ranked #67

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Elwood, IN

School data provided by Great Schools

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

Explore Elwood, IN Rentals by Map

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See the most popular apartments and homes in Elwood, IN

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Getting Around Elwood, IN

Walk Score®

30 / 100

Car-Dependent

Most errands require a car

Bike Score®

39 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Elwood Apartments

What is the Cheapest Studio apartment in Elwood?

Currently the most affordable Cheap Studio Apartment in Elwood is at Harter House listed at $749.

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

The lowest price for a Cheap One Bedroom Elwood Apartment is $250 at The Towers at Southdale Affordable Senior.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elwood is starting from $790 at Lincolnwood Apartments.

What is the most affordable Elwood Three Bedroom Apartment?

The best deal on a cheap Elwood Three Bedroom Apartment rental is at Turnberry Square Apartments and starts from $1,040.

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 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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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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.