Cheap Apartments for Rent in Elma, IA from $400 (38 Rentals)

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

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Elma, IA Local Guide

Cheapest Available Elma Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elma, IA is a Studio unit found at Shalom Tower II priced from $405. Key Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here is today’s list of the most affordable Elma apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Shalom Tower IITower I EfficiencyStudio,1BA$405
Key ApartmentsEfficiencyStudio,1BA$450
City Center Kent ApartmentsStudio1BR,1BA$495
18 S Adams AveOne Bedroom1BR,1BA$525
Key West ApartmentsStudioStudio,1BA$550
The Meadows ApartmentsQuads 2Bd2BR,1BA$700
Pebble Creek Apartments2 Bedroom 1 Bathroom2BR,1BA$755
Brentwood Estates - Furnished & UnfurnishedOne bedroom beautifully updated1BR,1BA$795
Rolling Meadows Apartments1 bedroom/1bath1BR,1BA$800
The River Apartments & TownhomesStudio ApartmentStudio,1BA$825

Best Value Apartments for Rent in Elma, IA and Nearby

As of April 17, 2025 the best value apartment in the Elma area is the $1.39 price per square foot Pinnacle Villages - Waverly Model at Pinnacle Villages - Waverly in the starting from $1,670. The second greatest value Elma apartment is the 2 Bedroom 1.5 Bathroom Model at Meadow Lake of Clear Lake Apartments starting at $855 with a $1.03 price per square foot . Here is today’s list of the best values for Elma apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pinnacle Villages - WaverlyPinnacle Villages - Waverly3BR,2.5BA$1.39
Meadow Lake of Clear Lake Apartments2 Bedroom 1.5 Bathroom2BR,1.5BA$1.03
Lincoln Apartments LLCApt. 172BR,1BA$1.36
Pebble Creek Apartments2 Bedroom 1 Bathroom2BR,1BA$0.94
City Center Kent Apartments1 Bedroom1BR,1BA$0.74
Shalom Tower IITower II - One Bedroom1BR,1BA$0.70
Webster ApartmentsApt. 102BR,1BA$1.36
The Meadows ApartmentsMeadows 2Bd2BR,1BA$0.92
Rolling Meadows Apartments1 bedroom/1bath1BR,1BA$1.40
18 S Adams AveOne Bedroom1BR,1BA$0.95

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

Explore Elma, IA Rentals by Map

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See the most popular apartments and homes in Elma, IA

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Getting Around Elma, IA

Walk Score®

24 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Elma Apartments

What is the Cheapest Studio apartment in Elma?

Currently the most affordable Cheap Studio Apartment in Elma is at Shalom Tower II listed at $405.

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

The lowest price for a Cheap One Bedroom Elma Apartment is $495 at City Center Kent Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elma is starting from $700 at The Meadows Apartments.

What is the most affordable Elma Three Bedroom Apartment?

The best deal on a cheap Elma Three Bedroom Apartment rental is at The Meadows Apartments and starts from $750.

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.

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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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.