Cheap Apartments for Rent in Elyria, OH from $500 (32 Rentals)

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

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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Southwyck Manor
1 to 3 Bedroom Apartments

Southwyck Manor

1442-1454 W River Rd NElyria, OH 44035
  • Utilities Included
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The Floridian
1 to 2 Bedroom Apartments

The Floridian

127 Fox Hill LnElyria, OH 44035

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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Colony
2 Bedroom Apartments

Colony

275 Harrison StElyria, OH 44035
Senior Living
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249 8th St
1 to 3 Bedroom Apartments

249 8th St

249 8th StElyria, OH 44035
  • Smoke Free
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Lorain Studio Suites
Studio to 1 Bedroom Apartments

Lorain Studio Suites

1825 Lorain BlvdElyria, OH 44035
  • Utilities Included

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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Pikewood Manor
1 to 3 Bedroom Apartments

Pikewood Manor

1780 Lorain BlvdElyria, OH 44035
  • Utilities Included
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Colonial Oaks
3 to 4 Bedroom Apartments

Colonial Oaks

10425 Middle AveElyria, OH 44035

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.

Elyria, OH Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Elyria, OH

Pricing Updated: 10/29/2025

Current apartment rentals in the Elyria, OH area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Elyria Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Elyria$1,050$7903

Cheapest Available Elyria Apartments for Rent

 

The cheapest available apartment rental in Elyria, OH is a Studio unit found at Arbor Grove Lorain priced from $789. Oakwood Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Elyria apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Arbor Grove LorainStudioStudio,1BA$789
Oakwood Park Apartments1 Bedroom - Available Soon!1BR,1BA$825
Rosewood Park Apartments2 Bedroom 1 Bath2BR,1BA$900
Waterford Luxury Apartments & VillasThe Upper2BR,2BA$1,600
Redwood ElyriaFernwood2BR,2BA$1,609
Redwood AmherstForestwood2BR,2BA$1,799
Redwood North Ridgeville Meadow Lakes BlvdLedgewood2BR,2BA$1,899
The Preserve at French CreekThe Willow2BR,2BA$2,125

Best Value Apartments for Rent in Elyria, OH

As of October 29, 2025 the best value apartment in the Elyria area is the $1.32 price per square foot The Willow Model at The Preserve at French Creek in the in the Bentley Park neighborhood starting from $2,125. The second greatest value Elyria apartment is the Villa Model at Waterford Luxury Apartments & Villas starting at $2,100 with a $1.31 price per square foot in the Bentley Park neighborhood. Here is today’s list of the best values for Elyria apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Preserve at French CreekThe Willow2BR,2BA$1.32
Waterford Luxury Apartments & VillasVilla2BR,2BA$1.31
Redwood North Ridgeville Meadow Lakes BlvdLedgewood2BR,2BA$1.33
Redwood AmherstMeadowood2BR,2BA$1.56
Redwood ElyriaFernwood2BR,2BA$1.43
557 Ohio St, Unit Down557 Ohio St2BR,1BA$1.21
Rosewood Park Apartments2 Bedroom 1 Bath2BR,1BA$1.61
Oakwood Park Apartments1 Bedroom - Available Soon!1BR,1BA$1.50
Arbor Grove LorainStudioStudio ,1BA$1.86

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Elyria Overview

It may have an unusual name, but once you learn how to pronounce it, chances are high that you'll fall in love with the lifestyle you can have in this small city close to Cleveland. With a unique history and a bright future, Elyria has grown to maturity by preserving the best of its past and retaining some of the character of its founder, who had a vision that included building homes that would be appreciated by early settlers. Today, the city still exists with that goal -- to treat its residents to a life that has a lot to offer on many different levels!

Why live in Elyria, OH?

 The cost of housing is low compared to the rest of the country, with the median home price 54% below the national average at $107,600, and a median rent of $740, 36% below the national average. The overall cost of living is 14% below the national average, and Elyria has a diverse population, a relatively high job availability rate, short commutes, plenty of recreational opportunities, and abundant amenities. 

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

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Getting Around Elyria, OH

Walk Score®

40 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Elyria Apartments

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

The lowest price for a Cheap One Bedroom Elyria Apartment is $825 at Oakwood Park Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elyria is starting from $895 at Oakwood Park Apartments.

What is the most affordable Elyria Three Bedroom Apartment?

The best deal on a cheap Elyria Three Bedroom Apartment rental is at Oakwood Park Apartments and starts from $1,000.

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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A Cleveland Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Sandy Baker

Choosing the ideal place to call home in Cleveland may mean selecting a neighborhood that offers excellent access to the freeways or good overall schools for the kids.

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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! 

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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.