Cheap Apartments for Rent in Elk Rapids, MI from $400 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in Elk Rapids.

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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property at 2276 S M-37

$1,200

1 Bedroom, 1 Bath Townhome for Rent

Available Now

2276 S M-37, Unit B

2276 S M-37
Traverse CityMI49685

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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Victories Square
Studio to 2 Bedroom Apartments

Victories Square

1899 Migizi WayPetoskey, MI 49770
  • Utilities Included
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122 Hancock St
Studio to 3 Bedroom Apartments

122 Hancock St

122 Hancock StManistee, MI 49660
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Stargate Motel
2 to 3 Bedroom Apartments

Stargate Motel

4646 S Straits HwyIndian River, MI 49749
  • Utilities Included
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Inland Lakes Motel
1 to 2 Bedroom Apartments

Inland Lakes Motel

1225 S Grandview Beach RdIndian River, MI 49749
Corporate Housing
  • Utilities Included

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Garfield Oaks
1 to 2 Bedroom Apartments

Garfield Oaks

3011 Garfield Rd NTraverse City, MI 49686
  • Utilities Included
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Brookside Commons
1 to 3 Bedroom Apartments

Brookside Commons

4155 Sprucewood DrTraverse City, MI 49684
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Liv Arbors
1 to 5 Bedroom Apartments

Liv Arbors

2955 Leggett DrTraverse City, MI 49685
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Totem Lodges
1 to 3 Bedroom Apartments

Totem Lodges

4846 S Straits HwyIndian River, MI 49749
  • Utilities Included
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Manitou Woods
1 to 3 Bedroom Apartments

Manitou Woods

1021 Manitou DrTraverse City, MI 49686
  • Utilities Included

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.

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Showing Results 1-36, Page 1 of 1

Elk Rapids, MI Local Guide

Cheapest Available Elk Rapids Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elk Rapids, MI is a 1 Bed unit found at Oak Terrace priced from $796. Cadillac Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,138. Here is today’s list of the most affordable Elk Rapids apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Oak Terrace1 BEDROOM1BR,1BA$796
Cadillac Lofts1-Bedroom1BR,1BA$1,138
Aspen VillageNew Double-Wide3BR,1BA$1,200
Brookside CommonsTwo Bedroom2BR,1BA$1,227
Pine Hills and Cedar Hills Apartments1 Bedroom 1 Bath1BR,1BA$1,300
Village Glen ApartmentsTwo Bed Two Bath2BR,2BA$1,374
Townhouse LaneTownhouse Ln2BR,1BA$1,395
Townline FlatsTownline 1 Bedroom Apartments1BR,1BA$1,540
Buena Vista EstatesThree Bed Two Bath3BR,2BA$1,550
PinecrestPinecrest2BR,2BA$1,622

Best Value Apartments for Rent in Elk Rapids, MI and Nearby

As of June 21, 2026 the best value apartment in the Elk Rapids area is the $1.52 price per square foot 3BD/2.5BA Model at Manitou Woods in the starting from $2,025. The second greatest value Elk Rapids apartment is the Birch Model at Pines45 Apartments starting at $1,635 with a $1.47 price per square foot . Here is today’s list of the best values for Elk Rapids apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Manitou Woods3BD/2.5BA3BR,2.5BA$1.52
Pines45 ApartmentsBirch2BR,2BA$1.47
Ridge45 ApartmentsLongitude South2BR,2BA$1.64
Townhouse LaneTownhouse Ln2BR,1.5BA$1.29
Brookside CommonsTwo Bedroom2BR,1BA$1.20
Village Glen ApartmentsTwo Bed Two Bath2BR,2BA$1.36
Hillside ApartmentsAPT 2Studio ,1BA$1.00
PinecrestPinecrest2BR,2BA$1.62
Buena Vista EstatesThree Bed Two Bath3BR,2BA$1.70
Oak Terrace1 BEDROOM1BR,1BA$1.38

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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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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Best Local Schools in
Elk Rapids, MI

School data provided by Great Schools

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

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Frequently Asked Questions about Cheap Elk Rapids Apartments

How much is rent for a Cheap One Bedroom Elk Rapids Apartment?

The lowest price for a Cheap One Bedroom Elk Rapids Apartment is $796 at Oak Terrace.

What is the lowest price for a Cheap Two Bedroom Elk Rapids Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Elk Rapids is starting from $1,227 at Brookside Commons.

What is the most affordable Elk Rapids Three Bedroom Apartment?

The best deal on a cheap Elk Rapids Three Bedroom Apartment rental is at Aspen Village and starts from $1,200.

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

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.