Cheap Apartments for Rent near Bear Lake, MI from $498 (34 Rentals)

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Search the lowest-cost Apartments available for rent right now in Bear Lake.

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.

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property at 2276 S M-37
$1,200
1 Bedroom, 1 Bath Townhome for Rent
Available Now
Furnished

2276 S M-37, Unit B

2276 S M-37
Traverse CityMI49685
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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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Brookside Commons
1 to 3 Bedroom Apartments

Brookside Commons

4155 Sprucewood DrTraverse City, MI 49684
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122 Hancock St
Studio to 3 Bedroom Apartments

122 Hancock St

122 Hancock StManistee, MI 49660

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Liv Wildwood
1 to 3 Bedroom Apartments

Liv Wildwood

153 S Wildwood TrlLudington, MI 49431
Corporate Housing
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Garfield Oaks
1 to 2 Bedroom Apartments

Garfield Oaks

3011 Garfield Rd NTraverse City, MI 49686
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Liv Arbors
1 to 5 Bedroom Apartments

Liv Arbors

2955 Leggett DrTraverse City, MI 49685

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Bear Lake, MI Local Guide

Cheapest Available Bear Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Bear Lake, MI is a 2 Beds unit found at Ruth Park in the Downtown Traverse City neighborhood priced from $498. Brookside Commons has the second lowest priced unit, which is a 2 Beds apartment currently listed from $583. Here is today’s list of the most affordable Bear Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ruth Park2x12BR, 1BA$498
Brookside Commons2 Bedroom C2BR, 1BA$583
Parkview ApartmentsOne bedroom1BR, 1BA$694
Oak Terrace1 BEDROOM1BR, 1BA$796
105 Hobart St1 bed1BR, 1BA$1,075
Buena Vista EstatesTwo Bed One Bath2BR, 1BA$1,100
Annika Place1 Bedroom 1 Bath1BR, 1BA$1,290
Studio's at The VicKingStudio, 1BA$1,299
Harbour Ridge ApartmentsTwo Bed One Bath w/heat2BR, 1BA$1,335
Townhouse LaneTownhouse Ln2BR, 1BA$1,395

Best Value Apartments for Rent in Bear Lake, MI and Nearby

As of September 20, 2026 the best value apartment in the Bear Lake area is the $1.60 price per square foot Empire Model at Liv East Bay starting from $3,065. The second greatest value Bear Lake apartment is the Longitude Model at Ridge45 Apartments starting at $1,805 with a $1.63 price per square foot. Here is today’s list of the best values for Bear Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Liv East BayEmpire4BR, 2.5BA$1.60
Ridge45 ApartmentsLongitude2BR, 2BA$1.63
Townhouse LaneTownhouse Ln2BR, 1.5BA$1.29
Brookside Commons2 Bedroom A2BR, 1BA$1.37
Village Glen ApartmentsTwo Bed Two Bath2BR, 2BA$1.46
Harbour Ridge ApartmentsOne Bed Den w/Garage1BR, 1BA$1.64
Ruth Park2x12BR, 1BA$0.58
Parkview ApartmentsOne bedroom1BR, 1BA$0.95
Oak Terrace1 BEDROOM1BR, 1BA$1.38
Riverview Terrace1 Bedroom R1BR, 1BA$0.10

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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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.

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

Explore Bear Lake, MI Rentals by Map

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Frequently Asked Questions about Cheap Bear Lake Apartments

How much is rent for a Cheap One Bedroom Bear Lake Apartment?

The lowest price for a Cheap One Bedroom Bear Lake Apartment is $50 at Riverview Terrace.

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

Today's best deal for a Cheap Two Bedroom Apartment in Bear Lake is starting from $583 at Brookside Commons.

What is the most affordable Bear Lake Three Bedroom Apartment?

The best deal on a cheap Bear Lake Three Bedroom Apartment rental is at Buena Vista Estates and starts from $1,550.

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

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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.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.