
Cheap Homes for Rent in Elwood, NY from $2,500 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Elwood.


3A127 Hemlock Dr

1 C Hemlock Dr

60 Wheatfield Ln
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.

74 Broadway, Unit 74A

10 Vilno Ct

211 W 22nd St

3 Jarvis Ct
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.
Elwood, NY Local Guide

How much does it cost to rent a home in Elwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Elwood 2 Bedroom Homes for Rent | $3,721 | $2,550 | $6,800 |
| Elwood 3 Bedroom Homes for Rent | $4,930 | $3,500 | $10,000+ |
| Elwood 4 Bedroom Homes for Rent | $6,507 | $4,000 | $10,000+ |
| Elwood 5 Bedroom Homes for Rent | $7,925 | $4,250 | $10,000+ |
| Elwood 6 Bedroom Homes for Rent | $6,749 | $4,999 | $8,500 |
Browse Top Homes for Rent in Elwood
Explore Elwood
Elwood, NY Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Elwood Apartments for Rent and Nearby
 The cheapest available apartment rental in Elwood, NY is a Studio unit found at Fairfield Station At Deer Park in the North Deer Park neighborhood priced from $2,055. Fairfield At Smithtown in the Village of the Branch neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $2,115. Here is today’s list of the most affordable Elwood apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Fairfield Station At Deer Park | The Reading | Studio,1BA | $2,055 |
| Fairfield At Smithtown | The Quinton | Studio,1BA | $2,115 |
| Fairfield At Hauppauge | The Savoy Lower | Studio,1BA | $2,235 |
Best Value Apartments for Rent in Elwood, NY and Nearby
As of June 06, 2026 the best value apartment in the Elwood area is the $3.16 price per square foot 2 Bed 2 Bath Townhome Model at The Cornerstone at Hauppauge 55+ Active Adult Apartment Homes in the in the Courthouse Commons neighborhood starting from $3,981. The second greatest value Elwood apartment is the LARK Lower End Residence With Porch 2BR 2BTH Model at Fairfield Knolls At Deer Park 55+ starting at $3,530 with a $3.33 price per square foot in the North Deer Park 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. |
|---|---|---|---|
| The Cornerstone at Hauppauge 55+ Active Adult Apartment Homes | 2 Bed 2 Bath Townhome | 2BR,2BA | $3.16 |
| Fairfield Knolls At Deer Park 55+ | LARK Lower End Residence With Porch 2BR 2BTH | 2BR,2BA | $3.33 |
| Fairfield Northport Harbor | The Seaside 3-10 | 1BR,1BA | $3.61 |
| Fairfield At Deer Park | The Pinehill | 2BR,1BA | $3.34 |
| Eagle Rock Apartments at Huntington Station | C1 - 3x1 | 3BR,1BA | $3.03 |
| 190 Old Field Rd | 190 Old Field Rd | 1BR,1BA | $2.89 |
| Maple Crest Apartments at Dix Hills | One Bedroom | 1BR,1BA | $2.83 |
| Willow Lake Apartments | Model C 1 Bedroom Second Floor | 1BR,1BA | $3.51 |
| 9 Elwin Pl, Unit 9 Elwin Place | 9 Elwin Pl | 2BR,1.5BA | $3.56 |
| Mayfair Gardens | One Bedroom | 1BR,1BA | $3.37 |
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 ArticleReal 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.
Read ArticleQuick 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.
Best Local Schools in Elwood, NY
Harley Avenue Elementary School
Elwood John Glenn High School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Elwood, NY Rentals by Map
See the most popular apartments and homes in Elwood, NY
Frequently Asked Questions about Elwood
What type of rentals are currently available in Elwood?
There are currently 78 Apartments for Rent in Elwood, NY with pricing that ranges from $1,639 to $6,800. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elwood ranging from $2,550 to $13,000.
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 $2,550 to $13,000 with an average monthly rent of $5,567.
How much are larger Three and Four Bedroom Rentals in Elwood?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Elwood range from $2,883 to $5,295, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,500 to $12,000. Four Bedroom Single-Family rentals are also available starting from $4,000 and Four Bedroom Apartments start at $4,000.
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

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.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.