
Cheap Homes for Rent in Elma, IA from $300 (18 Rentals)
Search the lowest-cost Homes available for rent right now in Elma.


12 6th Ave NE

7 6th St SE

524 5th Ave NW

1 E Charles St

220 1st Ave NW

1009 3rd Ave NW

303 W Water St

109 8th St NW

108 2nd Ave SW

204 Grove St NW

407 1st St NE

301 Butler Dr

15 S Ohio Ave

123 3rd Ave NW

203 4th Ave S

1501 7th Ave NW

515 Franklin St
Elma, IA Local Guide

How much does it cost to rent a home in Elma?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Elma 2 Bedroom Homes for Rent | $1,246 | $750 | $2,700 |
Elma 3 Bedroom Homes for Rent | $1,296 | $1,000 | $1,500 |
Elma 4 Bedroom Homes for Rent | $995 | $995 | $995 |
Elma 5 Bedroom Homes for Rent | $1,600 | $1,600 | $1,600 |
Browse Top Homes for Rent in Elma
Explore Elma
Elma, IA Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Shalom Tower II | Tower I Efficiency | Studio,1BA | $405 |
Key Apartments | Efficiency | Studio,1BA | $450 |
City Center Kent Apartments | Studio | 1BR,1BA | $495 |
18 S Adams Ave | One Bedroom | 1BR,1BA | $525 |
Key West Apartments | Studio | Studio,1BA | $550 |
Best Value Apartments for Rent in Elma, IA and Nearby
As of April 16, 2025 the best value apartment in the Elma area is the $1.36 price per square foot Pinnacle Villages - Waverly Model at Pinnacle Villages - Waverly in the starting from $1,630. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Pinnacle Villages - Waverly | Pinnacle Villages - Waverly | 3BR,2.5BA | $1.36 |
Meadow Lake of Clear Lake Apartments | 2 Bedroom 1.5 Bathroom | 2BR,1.5BA | $1.03 |
Lincoln Apartments LLC | Apt. 17 | 2BR,1BA | $1.36 |
City Center Kent Apartments | 1 Bedroom | 1BR,1BA | $0.74 |
Shalom Tower II | Tower II - One Bedroom | 1BR,1BA | $0.70 |
Webster Apartments | Apt. 10 | 2BR,1BA | $1.36 |
The Meadows Apartments | Meadows 2Bd | 2BR,1BA | $0.92 |
Northern Place Apartments | 1 Bed, 1 bath | 1BR,1BA | $1.41 |
Rolling Meadows Apartments | 1 bedroom/1bath | 1BR,1BA | $1.40 |
18 S Adams Ave | One Bedroom | 1BR,1BA | $0.95 |
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Frequently Asked Questions about Elma
What type of rentals are currently available in Elma?
There are currently 39 Apartments for Rent in Elma, IA with pricing that ranges from $405 to $6,270. There are also 42 Single Family Homes for rent, Condos, and Townhome rentals currently available in Elma ranging from $395 to $2,700.
What is the current price range for Rental Homes in Elma?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Elma ranges from $395 to $2,700 with an average monthly rent of $1,120.
How much are larger Three and Four Bedroom Rentals in Elma?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Elma range from $750 to $6,270, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $1,500. Four Bedroom Single-Family rentals are also available starting from $995 and Four Bedroom Apartments start at $937.
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.

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.

Know Your Rights - How Discrimination Laws Impact Landlords & 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.

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.

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.