Cheap Apartments for Rent in Lake Elsinore, CA from $400 (4 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Lake Elsinore, CA Local Guide

Photo of Staff Writer  - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Lake Elsinore, CA

Pricing Updated: 07/07/2025

Current apartment rentals in the Lake Elsinore, CA area range in price from $1,200 to $3,075 with an overall median price of $2,577. The three Lake Elsinore neighborhoods with the lowest median rent pricing are Horsethief Canyon at $1,695, Lake Elsinore Hills at $1,200, and Alberhill Ranch at $1,695. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Lake Elsinore Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Horsethief Canyon$2,075$1,6951
Lake Elsinore Hills$2,420$1,20021
Alberhill Ranch$2,510$1,69521
Country Club Heights$2,510$1,69522
Country Club Heights Lakeland$2,510$1,5505
Fox & Jacobs at Rosetta Canyon$2,511$1,20020
Santa Rosa by Fox & Jacobs at Rosetta Canyon$2,511$1,20020
Alderbrook at Canyon Hills$3,075$1,9611
Brookview Terrace$3,075$1,9611

Best Value Apartments for Rent in Lake Elsinore, CA

As of July 07, 2025 the best value apartment in the Lake Elsinore area is the $2.14 price per square foot The Foursquare Model at Rivers Edge in the in the Brookview Terrace neighborhood starting from $2,364. The second greatest value Lake Elsinore apartment is the 3 Bed 2 Bath Model at Grand Oaks Apartments starting at $2,135 with a $2.09 price per square foot in the Alberhill Ranch neighborhood. Here is today’s list of the best values for Lake Elsinore apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rivers EdgeThe Foursquare2BR,2BA$2.14
Grand Oaks Apartments3 Bed 2 Bath3BR,2BA$2.09
415 Ellis St, Unit A415 Ellis St2BR,2BA$2.33
Shoreline ApartmentsMarina2BR,1.5BA$2.47
Lakehouse Apartments2x12BR,1BA$2.41
RidgestoneA11BR,1BA$2.67
16911 Glenetta Way, Unit 316911 Glenetta Way1BR,1BA$2.12
18173 Brightman Ave, Unit A18173 Brightman AveStudio ,1BA$3.00

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.

decorative image of people with a giant lease agreement

Lake Elsinore Overview

If you’ve decided to look for Lake Elsinore apartments, then you’ve made a great decision. With a higher quality of life, a historic downtown, and many things to do and see, Lake Elsinore is a wonderful place to live. Furthermore, residents are in love with the weather in Lake Elsinore. With a very mild winter and summers that are bearable, staying comfortable is very easy in this city! And if you want to cool off, there is a gorgeous lake just minutes away and the beach is only a one-hour drive down the highway! Whether you want to raise a family or just try somewhere new after finishing college, then Lake Elsinore is a top place to call home!

Why live in Lake Elsinore, CA?

If you’ve decided to look for Lake Elsinore apartments, then you’ve made a great decision. With a higher quality of life, a historic downtown, and many things to do and see, Lake Elsinore is a wonderful place to live. Furthermore, residents are in love with the weather in Lake Elsinore. With a very mild winter and summers that are bearable, staying comfortable is very easy in this city! And if you want to cool off, there is a gorgeous lake just minutes away and the beach is only a one-hour drive down the highway! Whether you want to raise a family or just try somewhere new after finishing college, then Lake Elsinore is a top place to call home!

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

Explore Lake Elsinore, CA Rentals by Map

View MapLake Elsinore, CA Apartments MapView MapLake Elsinore, CA Rental Homes Map

Getting Around Lake Elsinore, CA

Walk Score®

40 / 100

Car-Dependent

Most errands require a car

Bike Score®

30 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Lake Elsinore Apartments

How much is rent for a Cheap One Bedroom Lake Elsinore Apartment?

The lowest price for a Cheap One Bedroom Lake Elsinore Apartment is $1,979 at Ridgestone.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake Elsinore is starting from $1,710 at Grand Oaks Apartments.

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.