
Cheap Apartments for Rent in South Elgin, IL from $700 (50 Rentals)
Search the lowest-cost Apartments available for rent right now in South Elgin.


Panton Mill Station

River Crossing

401 Ann St

Fox Ridge Apartments

Marison Mill Suites

Fountain Square

Fox River Crossing

Royal Ridge Apartments

River's Landing Apartments
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.

Alfamerica LLC-398 E Chicago St

19-25 Walker Pl

700 Bode Rd

342-350 S Belmont Ave

1698 Alison Dr

Old Oaks Estates

1459 Meyer St

61 N Aldine Ave

620 W Highland Ave

1539-1541 Meyer St
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.

Part of PID: 9813701

33 Lynch St

70 S Chapel St

1489 Meyer St

520 Walnut Ave

327 McClure Ave

255 N Spring St

10 N Gifford St

313 Kathleen Dr

1529 Meyer St
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.

350 E Chicago St

120-122 N Spring St

6 S Union St

River West Commons

Roseanne Apartments

Elgin Artspace Lofts - For Artists Only

39 Surrey Dr

Burnham Schoolhouse

Torrey Pines Apartments

Burnham Manor - 62 & Over
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.

Westwind Tower

Elgin Tower Lofts

WC Kimball

Buena Vista Towers

Center City Apartments

Buena Vista Apartments & Townhomes

314 E Chicago St

1990 Larkin Ave, Elgin, IL 60123

450 S Belmont Ave

831 Bode Rd
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
South Elgin, IL Local Guide

How much does it cost to rent an apartment in South Elgin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap South Elgin Studio Apartments | $1,634 | $1,025 | $1,790 |
| Cheap South Elgin 1 Bedroom Apartments | $1,845 | $826 | $2,195 |
| Cheap South Elgin 2 Bedroom Apartments | $2,348 | $967 | $2,814 |
| Cheap South Elgin 3 Bedroom Apartments | $2,764 | $2,436 | $3,195 |
| Cheap South Elgin 4 Bedroom Apartments | $17,589 | $10,000 | $10,000+ |
Browse Top Apartments in South Elgin
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South Elgin, IL Local Guide
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Cheapest Available South Elgin Apartments for Rent
 The cheapest available apartment rental in South Elgin, IL is a Studio unit found at 39 Surrey Dr in the West Ridge Village neighborhood priced from $1,100. River's Landing Apartments in the Beacon Pointe neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,235. Here is today’s list of the most affordable South Elgin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 39 Surrey Dr | 39 Surrey Drive | Studio,1BA | $1,100 |
| River's Landing Apartments | 1 Bedroom 1 Bath 675 sq ft | 1BR,1BA | $1,235 |
| Royal Ridge Apartments | Studio | Studio,1BA | $1,250 |
| Authentix South Elgin | Studio Retreat Courtyard | Studio,1BA | $1,705 |
| Springs At South Elgin | 1 BR Designer Overlook | 1BR,1BA | $1,811 |
| Panton Mill Station | The Beech | 1BR,1BA | $1,844 |
| Seasons at Elgin | 1B | 1BR,1BA | $1,945 |
| Fountain Square | 2 Bed/ 2 Bath | 2BR,2BA | $2,200 |
Best Value Apartments for Rent in South Elgin, IL
As of June 15, 2026 the best value apartment in the South Elgin area is the $2.00 price per square foot 2 Bed/ 2 Bath/ Den Model at Fountain Square in the in the College Green neighborhood starting from $2,600. The second greatest value South Elgin apartment is the The Beech Model at Panton Mill Station starting at $1,844 with a $2.18 price per square foot in the Valley View neighborhood. Here is today’s list of the best values for South Elgin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fountain Square | 2 Bed/ 2 Bath/ Den | 2BR,2.5BA | $2.00 |
| Panton Mill Station | The Beech | 1BR,1BA | $2.18 |
| River's Landing Apartments | 2 Bedroom 1 Bath 775 sq ft | 2BR,1BA | $1.87 |
| Springs At South Elgin | 1 BR Designer Courtyard Garage | 1BR,1BA | $2.66 |
| Seasons at Elgin | 1B | 1BR,1BA | $2.59 |
| 39 Surrey Dr | 39 Surrey Drive | Studio ,1BA | $1.69 |
| Authentix South Elgin | Studio Horizon Overlook | Studio ,1BA | $3.15 |
| Royal Ridge Apartments | Studio | Studio ,1BA | $2.50 |
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.
Best Local Schools in South Elgin, IL
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore South Elgin, IL Rentals by Map
See the most popular apartments and homes in South Elgin, IL
Frequently Asked Questions about Cheap South Elgin Apartments
What is the Cheapest Studio apartment in South Elgin?
Currently the most affordable Cheap Studio Apartment in South Elgin is at 39 Surrey Dr listed at $1,100.
How much is rent for a Cheap One Bedroom South Elgin Apartment?
The lowest price for a Cheap One Bedroom South Elgin Apartment is $1,235 at River's Landing Apartments.
What is the lowest price for a Cheap Two Bedroom South Elgin Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in South Elgin is starting from $1,450 at River's Landing Apartments.
What is the most affordable South Elgin Three Bedroom Apartment?
The best deal on a cheap South Elgin Three Bedroom Apartment rental is at Authentix South Elgin and starts from $2,436.
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.