Cheap Apartments for Rent in Ann Arbor, MI from $500 (128 Rentals)

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

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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property at 912 Mary St

912 Mary St

Ann ArborMI48104

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Ann Arbor, MI Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Ann Arbor, MI

Pricing Updated: 09/08/2025

Current apartment rentals in the Ann Arbor, MI area range in price from $700 to $10,000 with an overall median price of $6,130. The three Ann Arbor neighborhoods with the lowest median rent pricing are Kerrytown at $849, Abbot at $700, and Sister Lakes at $700. 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
Kerrytown$1,725$8495
Abbot$1,899$70065
Sister Lakes$1,899$70066
Westover Hills$1,899$70063
Dicken$2,036$949100
Carpenter$2,124$929118
Barton Plateau Huron River Heights$2,207$849238
Haisley$3,225$700226
Parkway Meadows$3,299$849239
Plansmart$3,299$849239

Cheapest Available Ann Arbor Apartments for Rent

 

The cheapest available apartment rental in Ann Arbor, MI is a 2 Beds unit found at Brown Street Apartments in the Chapel Hill neighborhood priced from $850. Aspen Chase in the Aspen Ridge Village neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here is today’s list of the most affordable Ann Arbor apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brown Street Apartments2-Bedroom2BR,1BA$850
Aspen ChaseAlgonac1BR,1BA$899
Hidden Valley ClubThe YostStudio,1BA$921
Golfside LakeErieStudio,1BA$949
Spruce Knob ApartmentsThe Van Gogh1BR,1BA$949
731 PackardSingle Bedroom September to May1BR,$950
The Pines of Cloverlane ApartmentsCaribou1BR,1BA$961
EvergreenCarpenter1BR,1BA$979

Best Value Apartments for Rent in Ann Arbor, MI

As of September 08, 2025 the best value apartment in the Ann Arbor area is the $0.56 price per square foot City Townhome Model at City Place Ann Arbor in the in the Chapel Hill neighborhood starting from $1,270. The second greatest value Ann Arbor apartment is the home Model at 807 S Main St starting at $2,750 with a $1.25 price per square foot in the North Central Ann Arbor 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.
City Place Ann ArborCity Townhome6BR,5BA$0.56
807 S Main Sthome3BR,1BA$1.25
828 Greene St6-Unit Suite6BR,2BA$0.61
301 N State St3 Beds, 1 bath3BR,1BA$0.60
533 Elizabeth St, Unit 2533 Elizabeth St6BR,1BA$0.71
The Varsity(MI)4 Bedroom 2 Bathroom4BR,2BA$1.14
908 Sybil StOne Bedroom w/ Office2BR,1BA$1.25
Brown Street Apartments2-Bedroom2BR,1BA$0.94
The VillasThe Cole2BR,1BA$1.23
Jackson West1 Bed, 1 Bath1BR,1BA$1.36

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.

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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

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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

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

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Ann Arbor, MI Apartments Map
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Ann 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 $979.

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

The cheapest apartment in Ann Arbor is Aspen Chase which is listed at $899, while the average apartment in Ann Arbor costs $6,130.

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 3,926 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 $961 which is $5,169 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 Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.