Cheap Apartments for Rent in Elwood, IN

19 rentals

Apartments For Rent Near Elwood, IN

We found 30 more apartments matching your filters just outside Elwood

Average Rent Trends in Elwood, IN

Rent in Elwood, IN varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in Aug 2026 compared to the previous month. Rent previously peaked in Nov 2025.
MonthAverage rent
Sep 2025$1,500
Oct 2025$1,400
Nov 2025$1,750
Dec 2025$1,535
Jan 2026$1,395
Feb 2026$1,191
Mar 2026$1,180
Apr 2026$1,000
May 2026$925
Jun 2026$935
Jul 2026$925
Aug 2026$910
View as a graph

Average Rent By Bedroom and Home Type

In August 2026, Apartments and Condos were the most affordable home type to rent compared with Houses.
1 bed2 beds3 beds4 bedsAll
All home types$845$925$1,528—$908
Apartments and Condos$725$850——$850
Houses—$599$1,528—$1,111
See more information about local market trends in Elwood, IN

Frequently Asked Questions about Rentals in Elwood, IN

  • What is the average rent of an apartment in Elwood, IN?
    The average rent of an apartment in Elwood, IN is $852 per month. This is about 57% lower than the national average.
  • When is the average rent cheapest in Elwood, IN?
    In the last year, the average rent in Elwood, IN was lowest in May 2025 when it was $856 per month.
  • When is the average rent most expensive in Elwood, IN?
    In the last year, the average rent in Elwood, IN was highest in Nov 2025 when it was $1,750 per month.
  • How does the rent of a 1 bedroom apartment compare to a studio apartment in Elwood, IN?
    The average rent of a 1 bedroom apartment in Elwood, IN is $845 per month. That is about $55 less than the cost of a studio apartment.
  • How many available rental listings are in Elwood, IN?
    There are 22 available rental listings in Elwood, IN.
  • What are some zip codes in Elwood, IN?
    Elwood, IN includes zip codes such as: 46036.
  • What are some cities near Elwood, IN?
    Some nearby cities include: Orestes, Frankton, Hobbs, Windfall, Alexandria. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Elwood, IN - 1,389 Rentas | Trulia