Cheap Apartments for Rent in Elgin, IL from $700 (16 Rentals)

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

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Regency Apartments
Studio to 3 Bedroom Apartments

Regency Apartments

230 S State StElgin, IL 60123
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River West Commons
Studio to 2 Bedroom Apartments

River West Commons

719 W Highland AveElgin, IL 60123
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1350 Getzelman Dr
1 Bedroom Apartments

1350 Getzelman Dr

1350 Getzelman DrElgin, IL 60123
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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

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1289 Abbott Dr
1 Bedroom Apartments

1289 Abbott Dr

1289 Abbott DrElgin, IL 60123
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Roseanne Apartments
1 Bedroom Apartments

Roseanne Apartments

401 E Chicago StElgin, IL 60120
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Gardiner Place Apartments
1 to 2 Bedroom Apartments

Gardiner Place Apartments

251 River Haven DrEast Dundee, IL 60118
Senior Living
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Elgin, IL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Elgin, IL

Pricing Updated: 04/15/2025

Current apartment rentals in the Elgin, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Elgin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Grant School Park$2,490$8265

Cheapest Available Elgin Apartments for Rent

 

The cheapest available apartment rental in Elgin, IL is a Studio unit found at Royal Ridge Apartments in the West Ridge Village neighborhood priced from $1,125. Blackhawk Apartment Homes in the Beacon Pointe neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,305. Here is today’s list of the most affordable Elgin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Royal Ridge ApartmentsStudioStudio,1BA$1,125
Blackhawk Apartment HomesOne Bedroom - 598 sqft1BR,1BA$1,305
The Villages at CanterfieldA1BR,1BA$1,655
Springs At South ElginStudio Grand OverlookStudio,1BA$1,667
Watermark at The Grove1.11BR,1BA$1,799

Best Value Apartments for Rent in Elgin, IL

As of April 15, 2025 the best value apartment in the Elgin area is the $1.92 price per square foot C1- Lower Model at 1900 at Canterfield Apartment Homes in the in the Sandy Creek Estates neighborhood starting from $2,559. The second greatest value Elgin apartment is the 2 bed/2 bath Model at 1990 Larkin Ave, Elgin, IL 60123 starting at $2,100 with a $1.75 price per square foot in the West Ridge Village neighborhood. Here is today’s list of the best values for Elgin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1900 at Canterfield Apartment HomesC1- Lower3BR,2BA$1.92
1990 Larkin Ave, Elgin, IL 601232 bed/2 bath2BR,2BA$1.75
569 Dean Dr, Unit 4569 Dean Dr2BR,1BA$2.27
Fountain Square1Bed/1Bath1BR,1BA$2.32
879 Jefferson Ave, Unit 1879 Jefferson Ave1BR,1BA$1.50
The Villages at CanterfieldA1BR,1BA$2.17
505 Ryan Ln, Unit A505 Ryan Ln2BR,1BA$2.14
Springs At South ElginStudio Grand OverlookStudio ,1BA$2.68
Blackhawk Apartment HomesOne Bedroom - 598 sqft1BR,1BA$2.18
Royal Ridge ApartmentsStudioStudio ,1BA$2.25

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Elgin Overview

A charming city located to the northern end of Illinois, Elgin is an ideal destination well worthy of consideration. Less than forty miles from the epicenter of Chicago, Elgin is an ever-growing locale offering small town ideals melded flawlessly with big city opportunity.

Why live in Elgin, IL?

True to its motto 'The City in the Suburbs', Elgin rentals offer a winning mixture of convenience and that oh-so-important rural comfort. Ideal for families and working class singles alike, this growing Illinois city is big on education, blue collar ideals and heart. With an exciting downtown scene filled with restaurants, museums and plenty of shopping, Elgin might just be the city you've been searching for.

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

Explore Elgin, IL Rentals by Map

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Getting Around Elgin, IL

Walk Score®

42 / 100

Car-Dependent

Most errands require a car

Bike Score®

48 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

27 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Elgin Apartments

What is the Cheapest Studio apartment in Elgin?

Currently the most affordable Cheap Studio Apartment in Elgin is at Royal Ridge Apartments listed at $1,125.

How much is rent for a Cheap One Bedroom Elgin Apartment?

The lowest price for a Cheap One Bedroom Elgin Apartment is $1,305 at Blackhawk Apartment Homes.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elgin is starting from $1,635 at Blackhawk Apartment Homes.

What is the most affordable Elgin Three Bedroom Apartment?

The best deal on a cheap Elgin Three Bedroom Apartment rental is at 1900 at Canterfield Apartment Homes and starts from $2,475.

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 A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

Written by: Nicole Harms

I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.