Cheap Apartments for Rent in Ann Arbor, MI from $500 (124 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
property at 528 S 5th Ave

528 S 5th Ave

Ann ArborMI48104
Showing Results 1-50, Page 1 of 3

Ann Arbor, MI Local Guide

Photo of Staff Writer - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Ann Arbor, MI

Pricing Updated: 06/23/2025

Current apartment rentals in the Ann Arbor, MI area range in price from $700 to $9,400 with an overall median price of $4,664. The three Ann Arbor neighborhoods with the lowest median rent pricing are Carpenter at $1,029, Kerrytown at $889, and Allen at $855. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Ann Arbor Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Carpenter$1,697$1,02975
Kerrytown$1,725$8891
Allen$1,879$855207
Abbot$2,299$1,03756
Sister Lakes$2,299$1,03754
Westover Hills$2,299$1,03754
Huron Parkway$2,345$855242
King$2,345$855218
Woodhaven Hills$2,345$855261
Northeast Ann Arbor$2,350$855233

Cheapest Available Ann Arbor Apartments for Rent

 

The cheapest available apartment rental in Ann Arbor, MI is a 1 Bed unit found at Aspen Chase in the Aspen Ridge Village neighborhood priced from $949. Evergreen in the Aspen Ridge Village neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,029. Here is today’s list of the most affordable Ann Arbor apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Aspen ChaseAlgonac1BR,1BA$949
EvergreenBelmont1BR,1BA$1,029
The VillasThe Cole2BR,1BA$1,049
Golfside LakeErieStudio,1BA$1,099
South GroveA1BR,1BA$1,140
Courthouse Square - A 55+ CommunityUpgraded 1 bedroom 1 bath1BR,1BA$1,150
Arbor Haus Apartments - Ann Arbor, MIThe Burton - Renovated1BR,1BA$1,175
Jackson West1 Bed, 1 Bath1BR,1BA$1,185

Best Value Apartments for Rent in Ann Arbor, MI

As of June 23, 2025 the best value apartment in the Ann Arbor area is the $1.25 price per square foot home Model at 807 S Main St in the in the North Central Ann Arbor neighborhood starting from $2,750. The second greatest value Ann Arbor apartment is the 533 Elizabeth St Model at 533 Elizabeth St, Unit 533 Elizabeth starting at $889 with a $0.43 price per square foot in the Chapel Hill neighborhood. Here is today’s list of the best values for Ann Arbor apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
807 S Main Sthome3BR,1BA$1.25
533 Elizabeth St, Unit 533 Elizabeth533 Elizabeth St6BR,2BA$0.43
The Fountain BLU2 Bedroom2BR,3BA$1.33
530 Miller Ave, Unit Cooperative House530 Miller Ave6BR,2.5BA$0.44
Saga Ann ArborD24BR,3BA$0.67
Glencoe HillsGrand Merais3BR,2BA$1.51
Lakestone Apartments2 Bedroom 1 Bath2BR,1BA$1.22
Sparrow WoodFinchwood1BR,1.5BA$1.43
The VillasThe Archibald2BR,1BA$1.34
RoundtreeThe Birch1BR,1BA$1.40

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Ann Arbor Overview

Ann Arbor is the county seat of Washtenaw County and one of the largest cities in Michigan. According to the census done in 2015, the estimated population of persons living there is 117,070. Ann Arbor boasts of best public schools, research institutions and recreational parks among others. With the great research institutions present, it is a great place to live in, study and work.

Why live in Ann Arbor, MI?

" Ann Arbor is a great place to find an apartment for living. This is because there are many recreational parks, good transportation systems, reliable climate and also good universities as well as research facilities. There are numerous employment opportunities since major companies have been set up as a result of research facilities present. The city is known to have a large number of educated people and therefore technology as well as exposure to great innovations is high. The apartments in the An Arbor area are also relatively fairly priced and hence affordable."

Pet Friendly Lifestyle
Ann Arbor, MI

Ranked #11

Among cities in Michigan for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
Ann Arbor, MI

School data provided by Great Schools

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

Explore Ann Arbor, MI Rentals by Map

Decorative image of map

See the most popular apartments and homes in Ann Arbor, MI

View MapAnn Arbor, MI Apartments MapView MapAnn Arbor, MI Rental Homes Map

Getting Around Ann Arbor, MI

Walk Score®

60 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

68 / 100

Bikeable

Some bike infrastructure

Transit Score®

36 / 100

Some Transit

A few nearby public transportation options

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 Ann Arbor Apartments

What is a cheap apartment in Ann Arbor?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Ann Arbor is under $1,185.

What is the price of a cheap apartment in Ann Arbor?

The cheapest apartment in Ann Arbor is Aspen Chase which is listed at $949, while the average apartment in Ann Arbor costs $4,664.

What types of apartments are the cheapest in Ann Arbor?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 2,100 regular apartments in Ann Arbor that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Ann Arbor?

Cheap apartments in Ann Arbor have an average cost of $1,384 which is $3,280 cheaper than the average rent for all rentals in Ann Arbor.

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 Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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

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.