533 Elizabeth St
Ann ArborMI48104
Cheap Homes for Rent in the Central Ann Arbor Neighborhood of Ann Arbor, MI from $600 (12 Rentals)
Search the lowest-cost Homes available for rent right now in the Central Ann Arbor area of Ann Arbor.
126 Hill St
Ann ArborMI48104
806 Hill St
Ann ArborMI48104
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$1,3501 Bedroom Apartments Available Now
303 E Madison St, Unit 2
303 E Madison StAnn Arbor, MI 48104
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$1,350Studio Apartments Available Now
303 E Madison St, Unit 1
303 E Madison StAnn Arbor, MI 48104
555 E William St, Unit 17L
555 E William St
Ann ArborMI48104
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
1531 Packard St
Ann ArborMI48104
555 E William St, Unit 6B
555 E William St
Ann ArborMI48104
555 E William St
Ann ArborMI48104
1217 Island Dr
Ann ArborMI48105
249 Brookridge Ct
Ann ArborMI48103
253 Brookridge Ct
Ann ArborMI48103
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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Central Ann Arbor, Ann Arbor, MI Local Guide
Copyright CoStar Group, Inc
How much does it cost to rent a home in Central Ann Arbor?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Central Ann Arbor 2 Bedroom Homes for Rent | $2,296 | $1,600 | $3,700 |
| Central Ann Arbor 3 Bedroom Homes for Rent | $3,293 | $2,095 | $4,100 |
| Central Ann Arbor 4 Bedroom Homes for Rent | $3,150 | $2,700 | $3,600 |
| Central Ann Arbor 5 Bedroom Homes for Rent | $4,792 | $2,750 | $6,500 |
| Central Ann Arbor 6 Bedroom Homes for Rent | $6,345 | $4,995 | $7,280 |
| Central Ann Arbor 7 Bedroom Homes for Rent | $5,813 | $750 | $8,860 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Central Ann Arbor Neighborhood of Ann Arbor, MI.
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Central Ann Arbor, Ann Arbor, MI Local Guide
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Cheapest Available Central Ann Arbor Apartments for Rent
The cheapest available apartment rental in the Central Ann Arbor area of Ann Arbor, MI is a 1 Bed unit found at 1803 Hill St priced from $825. 323 Packard St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. Here are the most affordable Central Ann Arbor apartments for rent in Ann Arbor, MI:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 1803 Hill St | 1803 Hill St. | 1BR,3BA | $825 |
| 323 Packard St | 1 Bedroom | 1BR,1BA | $1,200 |
| 812 Mary St | 1 Bedroom | 1BR,1BA | $1,200 |
| Island Drive | Efficiency Phase 2 | Studio,1BA | $1,224 |
| Forest Plaza Apartments | 1 bedroom | 1BR,1BA | $1,275 |
Best Value Apartments for Rent in Central Ann Arbor, MI
As of August 07, 2026 the best value apartment in the Central Ann Arbor area is the $0.30 price per square foot 1803 Hill St. Model at 1803 Hill St in the in the Northeast Ann Arbor neighborhood starting from $825. The second greatest value Central Ann Arbor apartment is the House Model at 807 S Main St starting at $2,900 with a $1.32 price per square foot in the North Central Ann Arbor neighborhood. Here is today’s list of the best values for Central Ann Arbor apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1803 Hill St | 1803 Hill St. | 1BR,3.5BA | $0.30 |
| 807 S Main St | House | 3BR,1BA | $1.32 |
| 1532 Packard St | House | 5BR,2.5BA | $1.00 |
| 518 Monroe St | House ($1200/person - 6 person total) | 6BR,3BA | $0.59 |
| 1540 Packard St, Unit Apt 2 | 1540 Packard St | 4BR,2BA | $0.43 |
| 533 Elizabeth St, Unit 533 Elizabeth | 533 Elizabeth St | 5BR,1BA | $0.50 |
| Traver Crossing | The Erie | 2BR,1BA | $1.36 |
| Vic Village North | 4B - Deluxe | 4BR,4BA | $1.47 |
| Fuller Apartments | 2 Bedroom - Layout 3A | 2BR,1BA | $0.95 |
| 528 S 5th Ave | 1 Bedroom | 2BR,1BA | $1.53 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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Pet Friendly LifestyleCentral Ann Arbor, Ann Arbor, MI
Ranked #51
Among cities in Michigan for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Central Ann Arbor
What type of rentals are currently available in Central Ann Arbor?
There are currently 584 Apartments for Rent in Central Ann Arbor, MI with pricing that ranges from $750 to $7,200. There are also 61 Single Family Homes for rent, Condos, and Townhome rentals currently available in Central Ann Arbor ranging from $699 to $8,860.
What is the current price range for Rental Homes in Central Ann Arbor?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Central Ann Arbor ranges from $699 to $8,860 with an average monthly rent of $2,784.
How much are larger Three and Four Bedroom Rentals in Central Ann Arbor?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Central Ann Arbor range from $949 to $4,575, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,095 to $4,100. Four Bedroom Single-Family rentals are also available starting from $2,700 and Four Bedroom Apartments start at $849.
Expert Rental Resources
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.
Articles, How-To's, and Tips
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.