Cheap Apartments for Rent in Elwood, IN from $500 (45 Rentals)

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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.

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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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2930 Albright
1 to 2 Bedroom Apartments

2930 Albright

2930 Albright RdKokomo, IN 46902
Corporate Housing
  • Utilities Included
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Lincolnwood Apartments
1 to 4 Bedroom Apartments

Lincolnwood Apartments

2101 Mark LnKokomo, IN 46902
  • Utilities Included
  • Smoke Free

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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property at 102 N Main St

$850 - $925

2 Bedroom Rentals

Available Now

102 N Main St

SummitvilleIN46070

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. Green Town Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. 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
Green Town ApartmentsOne Bd rm1BR,1BA$675
Courtyard Village Apartments621-A1BR,1BA$750
Kingston Green Apartments1 BEDROOM G1BR,1BA$760
Harter HouseRoseStudio,1BA$779
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
First Flats1bd/1bath Partially Renovated1BR,1BA$800
410 - WINDING BROOK APARTMENTS1 Bedroom - 2nd Floor1BR,1BA$829
Fox Acres Apartments1 Bed Room1BR,1BA$835

Best Value Apartments for Rent in Elwood, IN

As of January 09, 2026 the best value apartment in the Elwood area is the $0.92 price per square foot Townhouse Model at Sun Valley Townhomes in the starting from $1,300. The second greatest value Elwood apartment is the 2 Beds, 2 Baths Model at Tin Plate Apartments starting at $1,250 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.
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
Tin Plate Apartments2 Beds, 2 Baths2BR,2BA$1.12
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1.04
1522 Main St, Unit 31522 Main St1BR,1BA$0.92
Hoosier Woods2X2 60%2BR,2BA$0.95
Turnberry Square Apartments2 bed/2 bath2BR,2BA$1.21
Fox Acres Apartments1 Bed Room1BR,1BA$1.11
Kingston Green Apartments1 BEDROOM G1BR,1BA$1.25
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45
Green Town ApartmentsOne Bd rm1BR,1BA$1.23

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.

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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.

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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.

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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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Best Local Schools in
Elwood, IN

School data provided by Great Schools

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

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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 $845 at Kingston Green Apartments.

What is the most affordable Elwood Three Bedroom Apartment?

The best deal on a cheap Elwood Three Bedroom Apartment rental is at Hoosier Woods and starts from $999.

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

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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.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!