
Cheap Apartments for Rent in South Elgin, IL from $700 (51 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
Chicago's Best Affordable Neighborhoods
Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

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
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

363 Prairie St
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

1529 Meyer St

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
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.

Burnham Manor - 62 & Over

Elgin Tower Lofts

WC Kimball

Buena Vista Towers

Center City Apartments

314 E Chicago St

Westwind Tower

Buena Vista Apartments & Townhomes

1990 Larkin Ave, Elgin, IL 60123

450 S Belmont Ave
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.
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 | $1,585 | $1,025 | $1,795 |
| Cheap South Elgin 1 Bedroom Apartments | $1,806 | $1,100 | $2,125 |
| Cheap South Elgin 2 Bedroom Apartments | $2,269 | $1,372 | $2,800 |
| Cheap South Elgin 3 Bedroom Apartments | $2,715 | $1,650 | $3,195 |
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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 1 Bed unit found at River's Landing Apartments in the Beacon Pointe neighborhood priced from $1,235. Authentix South Elgin in the Valley View neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,542. Here is today’s list of the most affordable South Elgin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| River's Landing Apartments | 1 Bedroom 1 Bath 675 sq ft | 1BR,1BA | $1,235 |
| Authentix South Elgin | Studio Horizon Overlook | Studio,1BA | $1,542 |
| Panton Mill Station | The Beech | 1BR,1BA | $1,700 |
| Springs At South Elgin | 1 BR Grand Courtyard | 1BR,1BA | $1,727 |
| Seasons at Elgin | 1B | 1BR,1BA | $1,950 |
| Fountain Square | 2 Bed/ 2 Bath | 2BR,2BA | $2,200 |
Best Value Apartments for Rent in South Elgin, IL
As of July 30, 2026 the best value apartment in the South Elgin area is the $2.16 price per square foot 3 BR Grand Courtyard Garage Model at Springs At South Elgin in the in the Valley View neighborhood starting from $2,881. The second greatest value South Elgin apartment is the 2 Bed/ 2 Bath/ Den Model at Fountain Square starting at $2,600 with a $2.00 price per square foot in the College Green 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. |
|---|---|---|---|
| Springs At South Elgin | 3 BR Grand Courtyard Garage | 3BR,2BA | $2.16 |
| Fountain Square | 2 Bed/ 2 Bath/ Den | 2BR,2.5BA | $2.00 |
| Seasons at Elgin | 1C | 1BR,1BA | $2.80 |
| Panton Mill Station | The Linden | 1BR,1BA | $2.35 |
| River's Landing Apartments | 1 Bedroom 1 Bath 675 sq ft | 1BR,1BA | $1.83 |
| Authentix South Elgin | Studio Horizon Courtyard | Studio ,1BA | $2.90 |
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
School data provided by Great Schools
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 Authentix South Elgin listed at $1,542.
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 $2,048 at Authentix South Elgin.
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 $2,792.
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

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.