Cheap Apartments for Rent in Elwood, IN from $600 (25 Rentals)

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

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 Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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. 2930 Albright has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. 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
2930 Albright1 Bed1BR,1BA$695
Lincolnwood Apartments1BR/1BA1BR,1BA$700
Harter House Anderson LLCRoseStudio,1BA$749
First Flats1bed/1bath Renovated1BR,1BA$750

Best Value Apartments for Rent in Elwood, IN

As of June 27, 2025 the best value apartment in the Elwood area is the $0.97 price per square foot The Spruce Model at Cedar Ridge Townhomes in the starting from $1,180. The second greatest value Elwood apartment is the 2 Beds, 2 Baths Model at Tin Plate Apartments starting at $1,195 with a $1.12 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.
Cedar Ridge TownhomesThe Spruce3BR,1.5BA$0.97
Tin Plate Apartments2 Beds, 2 Baths2BR,2BA$1.12
Rivers Edge Apartments I & II2 BD 1.5 Bath2BR,1.5BA$1.31
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1.14
Timbernest Townhomes2BR/1.5BA2BR,1.5BA$1.13
Fox Acres Apartments1 Bed Room1BR,1BA$1.01
410 - WINDING BROOK APARTMENTS1 Bedroom - 1st Floor1BR,1BA$1.28
2930 Albright1 Bed1BR,1BA$1.16
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.

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Pet Friendly Lifestyle
Elwood, IN

Ranked #91

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®

31 / 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 Anderson LLC 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 North Pointe Commons and starts from $1,100.

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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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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.