Cheap Apartments for Rent in Grayling, MI from $400 (45 Rentals)

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

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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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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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

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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Garfield Oaks
1 to 2 Bedroom Apartments

Garfield Oaks

3011 Garfield Rd NTraverse City, MI 49686
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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

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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Showing Results 1-45, Page 1 of 1

Grayling, MI Local Guide

Cheapest Available Grayling Apartments for Rent and Nearby

 

The cheapest available apartment rental in Grayling, MI is a 2 Beds unit found at Presque Isle Estates priced from $575. Riverview Terrace in the Downtown Traverse City neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $744. Here is today’s list of the most affordable Grayling apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Presque Isle Estates14122BR,1BA$575
Riverview Terrace1 Bedroom R1BR,1BA$744
Harrison Estates Mobile Home CommunityLOT 232BR,2BA$750
Oak Terrace1 BEDROOM1BR,1BA$796
Cadillac Lofts1-Bedroom1BR,1BA$1,138
Ruth ParkTwo Bedroom2BR,1BA$1,161
Studio's at The VicKingStudio,1BA$1,199
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

Best Value Apartments for Rent in Grayling, MI and Nearby

As of April 14, 2026 the best value apartment in the Grayling area is the $1.48 price per square foot Cedar Model at Pines45 Apartments in the starting from $1,750. The second greatest value Grayling apartment is the Longitude South Model at Ridge45 Apartments starting at $1,815 with a $1.64 price per square foot . Here is today’s list of the best values for Grayling apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pines45 ApartmentsCedar2BR,2BA$1.48
Ridge45 ApartmentsLongitude South2BR,2BA$1.64
Bear Creek Meadows - Petoskey, MIMomma Bear - Upper2BR,2BA$1.50
Brookside CommonsTwo Bedroom2BR,1BA$1.20
Village Glen ApartmentsTwo Bed Two Bath2BR,2BA$1.36
Harrison Estates Mobile Home CommunityLOT 232BR,2BA$0.75
PinecrestPinecrest2BR,2BA$1.62
Ruth ParkTwo Bedroom2BR,1BA$1.34
Presque Isle Estates15202BR,1BA$0.94
Oak Terrace1 BEDROOM1BR,1BA$1.38

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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Grayling, MI

School data provided by Great Schools

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

Explore Grayling, MI Rentals by Map

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See the most popular apartments and homes in Grayling, MI

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Frequently Asked Questions about Cheap Grayling Apartments

How much is rent for a Cheap One Bedroom Grayling Apartment?

The lowest price for a Cheap One Bedroom Grayling Apartment is $744 at Riverview Terrace.

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

Today's best deal for a Cheap Two Bedroom Apartment in Grayling is starting from $575 at Presque Isle Estates.

What is the most affordable Grayling Three Bedroom Apartment?

The best deal on a cheap Grayling Three Bedroom Apartment rental is at Presque Isle Estates and starts from $650.

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

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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.