Cheap Apartments for Rent in the Waterford Neighborhood of Frederick, MD from $800 (64 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Waterford area of Frederick.

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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316 East Patrick Street
$1,550
Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550
1 Bedroom Apartment Available May 1

316 East Patrick Street

316 East Patrick StreetFrederick, MD 21701
Affordability
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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

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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2 James St
2 Bedroom Apartments

2 James St

2 James StFrederick, MD 21701
  • Utilities Included
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Creekside at Taskers Chance
1 to 2 Bedroom Apartments

Creekside at Taskers Chance

100 Burgess Hill WayFrederick, MD 21702
Senior Living
  • Utilities Included
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Hamilton Station
1 to 3 Bedroom Apartments

Hamilton Station

33 Hamilton AveFrederick, MD 21701
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Parkview Apartments
1 to 2 Bedroom Apartments

Parkview Apartments

750 Carroll PkyFrederick, MD 21701
Senior Living
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Waterford, Frederick, MD Local Guide

Cheapest Available Waterford Apartments for Rent

 

The cheapest available apartment rental in the Waterford area of Frederick, MD is a 2 Beds unit found at Sinclair Way priced from $886. The Westwinds has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,289. Here are the most affordable Waterford apartments for rent in Frederick, MD:

Apartment ListingModel NameBed/BathPriced From
Sinclair WayTwo Bedroom2BR,1BA$886
The Westwinds1 Bedroom, 1 Bath1BR,1BA$1,289
The Grove At Alban1 BR1BR,1BA$1,299
Foundry Square Apartments1 Bedroom- Sterling Lodge (Senior 62+)1BR,1BA$1,299
Creekside at Taskers Chance1 Bed, 1 Bath1BR,1BA$1,305
Ox Fibre ApartmentsOne Bedroom1BR,1BA$1,388
The Apartments at Elmwood Terrace1BR 1BA (665sf)1BR,1BA$1,447
The Cascades of Frederick - Ages 62+1 Bedroom, 1 Bathroom1BR,1BA$1,531
Frederick Greenes Apartments1 Bedroom1BR,1BA$1,534

Best Value Apartments for Rent in Waterford, MD

As of April 24, 2026 the best value apartment in the Waterford area is the $1.38 price per square foot D Model at Overlook at Avalon in the in the Taskers Chance neighborhood starting from $2,371. The second greatest value Waterford apartment is the 2034 Bedroom (A) Model at The Fred Apartment Homes starting at $1,834 with a $1.76 price per square foot in the Taskers Chance neighborhood. Here is today’s list of the best values for Waterford apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Overlook at AvalonD4BR,3BA$1.38
The Fred Apartment Homes2034 Bedroom (A)2BR,2BA$1.76
419 N Market St, Unit Apt A419 N Market St2BR,1BA$1.75
Potomac Commons1 Bedroom1BR,1BA$1.88
116 E Patrick St, Unit 6116 E Patrick St1BR,1BA$1.89
Francis Scott KeyTwo Bedroom/1.5 Bath (TC)2BR,1.5BA$1.94
The Grove At Alban1 BR1BR,1BA$1.53
478A W South St, Unit B478A W South St1BR,1BA$1.75
The Westwinds1 Bedroom, 1 Bath1BR,1BA$1.76
Sinclair WayOne Bedroom1BR,1BA$1.51

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Pet Friendly Lifestyle
Waterford, Frederick, MD

Ranked #6

Among cities in Maryland for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Waterford, Frederick, MD

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Maryland and customized analysis for Central Frederick, MD. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, transit availability, pet-friendly communities, family-friendly amenities, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Waterford Apartments

What is the price of a cheap apartment in Waterford?

The cheapest apartment in Waterford is Sinclair Way which is listed at $1,015, while the average apartment in Waterford costs $3,006.

What types of apartments are the cheapest in Waterford?

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 18 regular apartments in Waterford 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 Waterford?

Cheap apartments in Waterford have an average cost of $253 which is $2,753 cheaper than the average rent for all rentals in Waterford.

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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.