Cheap Homes for Rent in Elgin, IL from $1,200 (16 Rentals)

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

property at 1335 Abbott Dr

1335 Abbott Dr

ElginIL60123
property at 79 S Grove Ave

79 S Grove Ave

ElginIL60120
property at 717 Strom Dr

717 Strom Dr

West DundeeIL60118

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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Elgin, IL Local Guide

Cheapest Neighborhoods for Apartments in Elgin, IL

Pricing Updated: 04/08/2025

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$2,534$8264

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 $1,340. 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$1,340
Springs At South ElginStudio Grand OverlookStudio,1BA$1,585
The Villages at CanterfieldA1BR,1BA$1,655
Watermark at The Grove1.11BR,1BA$1,899

Best Value Apartments for Rent in Elgin, IL

As of April 09, 2025 the best value apartment in the Elgin area is the $1.75 price per square foot 2 bed/2 bath Model at 1990 Larkin Ave, Elgin, IL 60123 in the in the West Ridge Village neighborhood starting from $2,100. The second greatest value Elgin apartment is the 2x2 B2GU - Lower Model at 1900 at Canterfield Apartment Homes starting at $2,266 with a $2.08 price per square foot in the Sandy Creek Estates 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.
1990 Larkin Ave, Elgin, IL 601232 bed/2 bath2BR,2BA$1.75
1900 at Canterfield Apartment Homes2x2 B2GU - Lower2BR,2BA$2.08
Fountain Square1Bed/1Bath1BR,1BA$2.32
The Villages at CanterfieldA1BR,1BA$2.17
Watermark at The Grove1.1E1BR,1BA$2.76
505 Ryan Ln, Unit A505 Ryan Ln2BR,1BA$2.14
Springs At South ElginStudio Grand OverlookStudio ,1BA$2.54
Blackhawk Apartment HomesOne Bedroom - 598 sqft1BR,1BA$2.24
Royal Ridge ApartmentsStudioStudio ,1BA$2.25
305 Oregon Ave, Unit Fierke305 Oregon Ave1BR,1BA$3.30

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Frequently Asked Questions about Elgin

What type of rentals are currently available in Elgin?

There are currently 227 Apartments for Rent in Elgin, IL with pricing that ranges from $826 to $6,000. There are also 67 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elgin ranging from $1,250 to $6,500.

What is the current price range for Rental Homes in Elgin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Elgin ranges from $1,250 to $6,500 with an average monthly rent of $3,106.

How much are larger Three and Four Bedroom Rentals in Elgin?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Elgin range from $1,855 to $3,631, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,800 to $4,100. Four Bedroom Single-Family rentals are also available starting from $2,300 and Four Bedroom Apartments start at $2,899.

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.