Cheap Apartments for Rent in the Downtown Ferndale Neighborhood of Ferndale, MI from $700 (64 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Ferndale area of Ferndale.

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373 E Saratoga St, Unit 2
$975
Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975
1 Bedroom Apartment Available Jul 1

373 E Saratoga St, Unit 2

373 E Saratoga StFerndale, MI 48220
Affordability
  • Smoke Free
property at 316 Spencer St

$1,250 - $1,650

1 To 2 Bedroom Rentals

Available Now

316 Spencer St

FerndaleMI48220

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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118 Ardmore Drive
Studio to 1 Bedroom Apartments

118 Ardmore Drive

22444 Woodward AveFerndale, MI 48220
Senior Living
  • Utilities Included
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Margo Manor Apartments
1 to 2 Bedroom Apartments

Margo Manor Apartments

1250-1270 W 9 Mile RdFerndale, MI 48220
  • Utilities Included

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

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1500 E 10 Mile Rd
1 Bedroom Apartments

1500 E 10 Mile Rd

1500 E 10 Mile RdFerndale, MI 48220
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Flats of Ferndale
Studio to 1 Bedroom Apartments

Flats of Ferndale

21201 Woodward AveFerndale, MI 48220
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1619 W 9 Mile
1 Bedroom Apartments

1619 W 9 Mile

1619 W 9 Mile RdFerndale, MI 48220
  • 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Sandstone Apartments
1 to 2 Bedroom Apartments

Sandstone Apartments

12800 W Nine Mile RdOak Park, MI 48237
  • Utilities Included

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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Downtown Ferndale, Ferndale, MI Local Guide

Cheapest Available Downtown Ferndale Apartments for Rent

 

The cheapest available apartment rental in the Downtown Ferndale area of Detroit, MI is a 1 Bed unit found at Palmer Lofts Apartments priced from $850. Rosewood Manor Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,000. Here are the most affordable Downtown Ferndale apartments for rent in Detroit, MI:

Apartment ListingModel NameBed/BathPriced From
Palmer Lofts Apartments1 BR/1 Bath1BR,1BA$850
Rosewood Manor Apartments2 Beds, 1 Baths2BR,1BA$1,000
Sherwood HeightsThe Alan1BR,1BA$1,035
1500 E 10 Mile Rd1 Bedroom1BR,1BA$1,050
Flats of Ferndale1/11BR,1BA$1,170
The Nine1 Bedroom, 1 Bathroom1BR,1BA$1,295
484 E Breckenridge St1 Bedroom1BR,1BA$1,325
The AldorThe Aldor - Studio w/ Juliet BalconyStudio,1BA$1,325
Center Street Place1 Bedroom, Open Concept1BR,1BA$1,350
333 Marshall Apartments333 Marshall - 2 Bedroom2BR,1BA$1,395

Best Value Apartments for Rent in Downtown Ferndale, MI

As of June 12, 2026 the best value apartment in the Downtown Ferndale area is the $2.43 price per square foot C2 Two Bedroom Model at Flats at Iron Ridge in the in the Woodland Park neighborhood starting from $2,904. The second greatest value Downtown Ferndale apartment is the The Holiday Model at Eight55 Apartments starting at $2,299 with a $2.29 price per square foot in the Downtown Royal Oak neighborhood. Here is today’s list of the best values for Downtown Ferndale apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Flats at Iron RidgeC2 Two Bedroom2BR,2BA$2.43
Eight55 ApartmentsThe Holiday1BR,1BA$2.29
Sixth Street LoftsSixth Street Lofts - 1 Bedroom Loft1BR,1BA$1.73
Rosewood Manor Apartments2 Beds, 1 Baths2BR,1BA$1.11
Sherwood HeightsThe Alan1BR,1BA$1.28
333 Marshall Apartments333 Marshall - 2 Bedroom2BR,1BA$1.74
Oakfern ManorTwo Bed2BR,1BA$1.75
1500 E 10 Mile Rd1 Bedroom1BR,1BA$1.62
Palmer Lofts Apartments1 BR/1 Bath1BR,1BA$1.31
The Nine1 Bedroom, 1 Bathroom1BR,1BA$2.35

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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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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, and customized analysis for North Detroit. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Ferndale Apartments

What is a cheap apartment in Downtown Ferndale?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Ferndale is under $1,395.

What is the price of a cheap apartment in Downtown Ferndale?

The cheapest apartment in Downtown Ferndale is Palmer Lofts Apartments which is listed at $850, while the average apartment in Downtown Ferndale costs $9,738.

What types of apartments are the cheapest in Downtown Ferndale?

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 8 regular apartments in Downtown Ferndale that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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