Cheap Apartments for Rent in Lake Elsinore, CA from $400 (58 Rentals)

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

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Ridgestone
Rent Specials
$1,886 - $5,688
Total Monthly Price

Total Monthly Price

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$1,886 - $5,688
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1 to 3 Bedroom Apartments Available Now

Ridgestone

39415 Ardenwood WayLake Elsinore, CA 92532
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226 E Peck St
1 Bedroom Apartments

226 E Peck St

226 E Peck StLake Elsinore, CA 92530
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17856 Grand Ave
1 to 3 Bedroom Apartments

17856 Grand Ave

17856 Grand AveLake Elsinore, CA 92530
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505 W Limited Ave
2 to 3 Bedroom Apartments

505 W Limited Ave

505 W Limited AveLake Elsinore, CA 92530

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.

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117 N Lowell St
Studio Apartments

117 N Lowell St

117 N Lowell StLake Elsinore, CA 92530
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16341-16347 Grand Ave
2 Bedroom Apartments

16341-16347 Grand Ave

16341-16347 Grand AveLake Elsinore, CA 92530
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110-118 W Heald Ave
Studio to 2 Bedroom Apartments

110-118 W Heald Ave

110-118 W Heald AveLake Elsinore, CA 92530
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313-317 N Main St
1 to 2 Bedroom Apartments

313-317 N Main St

313-317 N Main StLake Elsinore, CA 92530
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212 N Langstaff St
2 Bedroom Apartments

212 N Langstaff St

212 N Langstaff StLake Elsinore, CA 92530

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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260 N Main St
Studio Apartments

260 N Main St

260 N Main StLake Elsinore, CA 92530
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507 W Limited Ave
2 to 3 Bedroom Apartments

507 W Limited Ave

507 W Limited AveLake Elsinore, CA 92530
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307 N Riley St
Studio to 3 Bedroom Apartments

307 N Riley St

307 N Riley StLake Elsinore, CA 92530
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304 S Spring St
1 to 2 Bedroom Apartments

304 S Spring St

304 S Spring StLake Elsinore, CA 92530
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16420 W Joy St
3 Bedroom Apartments

16420 W Joy St

16420 W Joy StLake Elsinore, CA 92530
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501 W Limited Ave
2 to 3 Bedroom Apartments

501 W Limited Ave

501 W Limited AveLake Elsinore, CA 92530
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509 W Limited St
2 to 3 Bedroom Apartments

509 W Limited St

509 W Limited StLake Elsinore, CA 92530
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3600 Nashland Ave
Studio Apartments

3600 Nashland Ave

3600 Nashland AveLake Elsinore, CA 92530
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21000 Mariposa Rd
1 to 3 Bedroom Apartments

21000 Mariposa Rd

21000 Mariposa RdLake Elsinore, CA 92530

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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3681 Nashland Ave
2 to 3 Bedroom Apartments

3681 Nashland Ave

3681 Nashland AveLake Elsinore, CA 92530
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32764 Ortega Hwy
3 Bedroom Apartments

32764 Ortega Hwy

32764 Ortega HwyLake Elsinore, CA 92530
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15129 Joy St
Studio Apartments

15129 Joy St

15129 Joy StLake Elsinore, CA 92530
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16495 Joy St
Studio Apartments

16495 Joy St

16495 Joy StLake Elsinore, CA 92530
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503 Limited Ave
2 Bedroom Apartments

503 Limited Ave

503 Limited AveLake Elsinore, CA 92530
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16459 Joy St
3 Bedroom Apartments

16459 Joy St

16459 Joy StLake Elsinore, CA 92530
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511 W Limited Ave
2 to 3 Bedroom Apartments

511 W Limited Ave

511 W Limited AveLake Elsinore, CA 92530

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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17810 Grand Ave
2 Bedroom Apartments

17810 Grand Ave

17810 Grand AveLake Elsinore, CA 92530
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705 Quail Dr
2 to 3 Bedroom Apartments

705 Quail Dr

705 Quail DrLake Elsinore, CA 92530
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Sierra Vista Apartments
1 to 3 Bedroom Apartments

Sierra Vista Apartments

15177 Lincoln StLake Elsinore, CA 92530
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32986 Blackwell Blvd
Studio to 3 Bedroom Apartments

32986 Blackwell Blvd

32986 Blackwell BlvdLake Elsinore, CA 92530
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113 S Spring St
Studio Apartments

113 S Spring St

113 S Spring StLake Elsinore, CA 92530

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.

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Lake Elsinore, CA Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Lake Elsinore, CA

Pricing Updated: 06/05/2026

Current apartment rentals in the Lake Elsinore, CA area range in price from $1,795 to $3,470 with an overall median price of $2,868. The three Lake Elsinore neighborhoods with the lowest median rent pricing are Horsethief Canyon at $1,845, Alberhill Ranch at $1,795, and Country Club Heights at $1,795. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lake Elsinore Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Horsethief Canyon$2,622$1,8451
Alberhill Ranch$2,648$1,79521
Country Club Heights$2,648$1,79521
Country Club Heights Lakeland$2,648$1,7956
Fox & Jacobs at Rosetta Canyon$2,885$1,88619
Lake Elsinore Hills$2,885$1,88621
Santa Rosa by Fox & Jacobs at Rosetta Canyon$2,885$1,88618
Alderbrook at Canyon Hills$2,995$1,995108
Brookview Terrace$2,995$1,995108
Tuscany Hills$3,470$1,88620

Cheapest Available Lake Elsinore Apartments for Rent

 

The cheapest available apartment rental in Lake Elsinore, CA is a 2 Beds unit found at Grand Oaks Apartments in the Outer SW Riverside County Temecula neighborhood priced from $1,710. Sierra Vista Apartments in the Horsethief Canyon neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,825. Here is today’s list of the most affordable Lake Elsinore apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Grand Oaks Apartments2 Bed 1.5 Bath2BR,1BA$1,710
Sierra Vista Apartments2 Bed 1 Bath upstairs2BR,1BA$1,825
RidgestoneA21BR,1BA$1,886
Shoreline ApartmentsPier1BR,1BA$1,899
Boulders Menifee2D- 1st Floor (115-116)1BR,1BA$1,995
Rivers EdgeThe Californian1BR,1BA$2,174
Parkview Townhomes3 Bedroom3BR,2BA$2,545

Best Value Apartments for Rent in Lake Elsinore, CA

As of June 05, 2026 the best value apartment in the Lake Elsinore area is the $1.61 price per square foot 4 Bedroom Model at Parkview Townhomes in the in the Horsethief Canyon neighborhood starting from $2,890. The second greatest value Lake Elsinore apartment is the 2 Bed 1.5 Bath Model at Grand Oaks Apartments starting at $1,710 with a $1.94 price per square foot in the Outer SW Riverside County Temecula 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.
Parkview Townhomes4 Bedroom4BR,2.5BA$1.61
Grand Oaks Apartments2 Bed 1.5 Bath2BR,1.5BA$1.94
Shoreline ApartmentsMarina2BR,1.5BA$2.73
Sierra Vista Apartments2 Bed 1 Bath upstairs2BR,1BA$2.17
Rivers EdgeThe Californian1BR,1BA$2.78
RidgestoneA21BR,1BA$2.47
Boulders Menifee2A-ALT- 1st Floor (101)1BR,1BA$3.18

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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Real 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.

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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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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!

Lake Elsinore, CA
Population: 68,183

Ranked #535

in US Census Population by City

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Best Local Schools in
Lake Elsinore, CA

School data provided by Great Schools

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

Explore Lake Elsinore, CA Rentals by Map

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Frequently Asked Questions about Cheap Lake Elsinore Apartments

What is the price of a cheap apartment in Lake Elsinore?

The cheapest apartment in Lake Elsinore is Ridgestone which is listed at $1,886, while the average apartment in Lake Elsinore costs $2,868.

What types of apartments are the cheapest in Lake Elsinore?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 15 regular apartments in Lake Elsinore that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Lake Elsinore?

Cheap apartments in Lake Elsinore have an average cost of $602 which is $2,266 cheaper than the average rent for all rentals in Lake Elsinore.

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.

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