Cheap Apartments for Rent in Elwood, IN from $600 (46 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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

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.

Read Article

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.

Read Article
close
View Me
2930 Albright
1 to 2 Bedroom Apartments

2930 Albright

2930 Albright RdKokomo, IN 46902
  • Utilities Included
close
View Me
North Pointe Commons
1 to 3 Bedroom Apartments

North Pointe Commons

2800 Crystal StAnderson, IN 46012
  • Utilities Included

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.

Read Article
property at 102 N Main St

102 N Main St

SummitvilleIN46070

Cash 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 Article
Showing Results 1-46, Page 1 of 1

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
1212 Meridian Flats2051BR,1BA$727
Kingston Green Apartments1BR/1BA1BR,1BA$750
First Flats1bd/1bath Partially Renovated1BR,1BA$775
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
410 - WINDING BROOK APARTMENTS1 Bedroom - 2nd Floor1BR,1BA$829
Fox Acres Apartments1 Bed Room1BR,1BA$835
Applecreek.The Washington1BR,1BA$865
Villages on Madison Apartments1x11BR,1BA$905

Best Value Apartments for Rent in Elwood, IN

As of October 09, 2025 the best value apartment in the Elwood area is the $0.94 price per square foot Townhouse Model at Sun Valley Townhomes in the starting from $1,327. The second greatest value Elwood apartment is the The Sequoia Model at Cedar Ridge Townhomes starting at $1,120 with a $0.92 price per square foot . 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.
Sun Valley TownhomesTownhouse3BR,2.5BA$0.94
Cedar Ridge TownhomesThe Sequoia3BR,1.5BA$0.92
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
Fox Acres Apartments1 Bed Room1BR,1BA$1.11
410 - WINDING BROOK APARTMENTS1 Bedroom - 2nd Floor1BR,1BA$1.28
Kingston Green Apartments1BR/1BA1BR,1BA$1.24
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45
Lincolnwood Apartments1BR/1BA1BR,1BA$1.36

Quick Rent Budget Calculator

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Elwood, IN

Ranked #88

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

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

Decorative image of map

See the most popular apartments and homes in Elwood, IN

View Map
Elwood, IN Apartments Map
View Map
Elwood, IN Rental Homes Map

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 Longfellow Plaza Affordable Senior Community listed at $790.

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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.