
Cheap Apartments for Rent in the Downtown Elyria Neighborhood of Elyria, OH from $500 (19 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Elyria area of Elyria.


Colony

115-117 Chestnut St

1117 East Ave

1446 W River Rd N

115 Fox Hill 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.

Carriage House Apartments

Southwyck Manor

Arlington Square Apartments

Lorain Studio Suites

Pikewood Manor

Colonial Oaks
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.

254 Washington Ave

Colonial Apartments

Colonnade

Water's Edge Apartments

Westway Garden Townhomes

Westfield Gardens
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.

Foster Garden Apartments
Downtown Elyria, Elyria, OH Local Guide

How much does it cost to rent an apartment in Downtown Elyria?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Elyria 1 Bedroom Apartments | $998 | $800 | $1,300 |
| Downtown Elyria 2 Bedroom Apartments | $896 | $750 | $980 |
| Downtown Elyria 3 Bedroom Apartments | $1,200 | $1,200 | $1,200 |
Browse Apartments in this Neighborhood
There are currently 19 rentals with your search options within a 2 mile radius of the Downtown Elyria Neighborhood of Elyria, OH.
See all Apartments in ElyriaExplore Elyria
Downtown Elyria, Elyria, OH Local Guide
- Nearby Elyria neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Downtown Elyria Apartments for Rent
 | Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Alba Apartments | Alba 1BR | 1BR,1BA | $895 |
| Pinegrove Apartments | 129 David Drive | 2BR,1BA | $900 |
Best Value Apartments for Rent in Downtown Elyria, OH
As of June 12, 2026 the best value apartment in the Downtown Elyria area is the $1.06 price per square foot 129 David Drive Model at Pinegrove Apartments in the in the North Elyria neighborhood starting from $900. The second greatest value Downtown Elyria apartment is the Alba 1BR Model at The Alba Apartments starting at $895 with a $1.63 price per square foot in the North Elyria neighborhood. Here is today’s list of the best values for Downtown Elyria apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Pinegrove Apartments | 129 David Drive | 2BR,1BA | $1.06 |
| The Alba Apartments | Alba 1BR | 1BR,1BA | $1.63 |
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.
Pet Friendly LifestyleDowntown Elyria, Elyria, OH
Ranked #6
Among cities in Ohio for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Frequently Asked Questions about Cheap Downtown Elyria Apartments
What is the lowest price for a Cheap Two Bedroom Downtown Elyria Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Elyria is starting from $900 at Pinegrove Apartments.
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

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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.