Cheap Homes for Rent in Elyria, OH from $400 (12 Rentals)

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property at 416 East Ave

$695

1 Bedroom Rentals

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416 East Ave

ElyriaOH44035

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.

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.

Elyria, OH Local Guide

Cheapest Neighborhoods for Apartments in Elyria, OH

Pricing Updated: 01/21/2026

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$1,135$7755

Cheapest Available Elyria Apartments for Rent

 

The cheapest available apartment rental in Elyria, OH is a Studio unit found at Hampshire I Apartments in the South Elyria neighborhood priced from $625. Arbor Grove Lorain has the second lowest priced unit, which is a Studio apartment currently listed from $789. Here is today’s list of the most affordable Elyria apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hampshire I ApartmentsStudioStudio,1BA$625
Arbor Grove LorainStudioStudio,1BA$789
Foxes' Lair Apartments1 Bedroom Apartment1BR,1BA$810
Chestnut Acres Apartments1 Bedroom - Call for Availability1BR,1BA$825
Rosewood Park Apartments2 Bedroom 1 Bath2BR,1BA$900

Best Value Apartments for Rent in Elyria, OH

As of January 21, 2026 the best value apartment in the Elyria area is the $1.23 price per square foot The Willow Model at The Preserve at French Creek in the in the Bentley Park neighborhood starting from $1,975. The second greatest value Elyria apartment is the Ledgewood Model at Redwood North Ridgeville Meadow Lakes Blvd starting at $1,949 with a $1.37 price per square foot in the Waterbury 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$1.23
Redwood North Ridgeville Meadow Lakes BlvdLedgewood2BR,2BA$1.37
Redwood AmherstMeadowood2BR,2BA$1.53
Redwood ElyriaFernwood2BR,2BA$1.42
557 Ohio St, Unit Down557 Ohio St2BR,1BA$1.16
Hunters Crossing ApartmentsOne Bedroom1BR,1BA$1.57
38835 Yunker Ct, Unit 038835 Yunker Ct2BR,1BA$0.89
Foxes' Lair Apartments1 Bedroom Apartment1BR,1BA$1.14
Chestnut Acres Apartments1 Bedroom - Call for Availability1BR,1BA$1.43
Rosewood Park Apartments2 Bedroom 1 Bath2BR,1BA$1.61

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

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Frequently Asked Questions about Elyria

What type of rentals are currently available in Elyria?

There are currently 127 Apartments for Rent in Elyria, OH with pricing that ranges from $595 to $2,800. There are also 50 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elyria ranging from $425 to $2,995.

What is the current price range for Rental Homes in Elyria?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Elyria ranges from $425 to $2,995 with an average monthly rent of $1,291.

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.

Helpful Local Expert Guides

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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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Experts Guide to The Top Neighborhoods to Rent Near Major Colleges and Universities in Cleveland

Written by: Sandy Baker

Whether you're moving to Cleveland to be close to one of the research hubs several of the local universities are known for or you just want to be part of it all in "The Land" knowing where to rent apartments close to the biggest .

decorative image for Your Official Guide to the Top Neighborhoods to Rent Near Major Employers in Cleveland article

Your Official Guide to the Top Neighborhoods to Rent Near Major Employers in Cleveland

Written by: Sandy Baker

If you’re moving to start a new job, knowing where to live can be overwhelming. Factors like being close to work are important, but so are schools, quality of life, and easy access to transportation.

Articles, How-To's, and Tips

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.