Cheap Apartments for Rent in Elwood, IL from $400 (20 Rentals)

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Cheap Apartments in Elwood.

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Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
  • Utilities Included
property at 310 Dewey St

310 Dewey St

JolietIL60436

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Elwood, IL Local Guide

Cheapest Available Elwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elwood, IL is a 1 Bed unit found at Stone Falls in the Sunset Point neighborhood priced from $949. The Birches in the Sunset Point neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,095. Here is today’s list of the most affordable Elwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Stone FallsOne Bedroom, Base Package1BR,1BA$949
The BirchesstuStudio,1BA$1,095
The Woodlands of Crest HillCypress1BR,1BA$1,208
Tudor Park ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,209
Ravine Woods Apartments1 Bedroom - North1BR,1BA$1,225

Best Value Apartments for Rent in Elwood, IL and Nearby

As of May 08, 2025 the best value apartment in the Elwood area is the $2.09 price per square foot 3B Model at The Bluffs in the in the Rockdale Junction neighborhood starting from $3,492. The second greatest value Elwood apartment is the Two Bedroom Townhouse C1TH Model at Orland Ridge Towns and Villas starting at $3,093 with a $1.97 price per square foot in the Meadow Park neighborhood. Here is today’s list of the best values for Elwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Bluffs3B3BR,2BA$2.09
Orland Ridge Towns and VillasTwo Bedroom Townhouse C1TH2BR,2.5BA$1.97
The Belvedere ApartmentsAugusta II3BR,2BA$2.48
Seasons at Plainfield2C2BR,2BA$1.93
Lincoln Station RowhomesC22BR,2BA$2.24
Stone FallsTwo Bedroom, Luxury Package2BR,1BA$1.38
Sixteen30A21BR,1BA$2.34
Timber Pointe ApartmentsElm1BR,1BA$2.42
Tudor Park ApartmentsThree Bedroom One Bathroom3BR,1BA$1.64
Ravine Woods Apartments1 Bedroom - North1BR,1BA$1.96

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

Explore Elwood, IL Rentals by Map

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See the most popular apartments and homes in Elwood, IL

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Getting Around Elwood, IL

Walk Score®

7 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

30 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

2 / 100

Minimal Transit

It may be possible to get on a bus

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 Elwood Apartments

What is the Cheapest Studio apartment in Elwood?

Currently the most affordable Cheap Studio Apartment in Elwood is at The Birches listed at $1,095.

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

The lowest price for a Cheap One Bedroom Elwood Apartment is $949 at Stone Falls.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elwood is starting from $1,209 at Tudor Park Apartments.

What is the most affordable Elwood Three Bedroom Apartment?

The best deal on a cheap Elwood Three Bedroom Apartment rental is at Tudor Park Apartments and starts from $1,309.

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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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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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.