
Cheap Homes for Rent in Lake City, TN from $400 (10 Rentals)
Search the lowest-cost Homes available for rent right now in Lake City.


191 Waddell Cir

416 W Outer Dr

200 Stone Henge Ln

245 Waddell Cir
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.

4143 W Beaver Creek Dr

235 Waddell Cir

102 Wainwright Rd

121 Nesper Rd

9500 Hausmond Way
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.
Lake City, TN Local Guide

How much does it cost to rent a home in Lake City?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake City 2 Bedroom Homes for Rent | $1,671 | $1,295 | $2,045 |
| Lake City 3 Bedroom Homes for Rent | $1,802 | $450 | $2,395 |
| Lake City 4 Bedroom Homes for Rent | $2,323 | $1,700 | $2,750 |
Browse Top Homes for Rent in Lake City
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Lake City, TN Local Guide
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Cheapest Available Lake City Apartments for Rent and Nearby
 The cheapest available apartment rental in Lake City, TN is a 1 Bed unit found at Coal Creek Apartment Homes priced from $795. Canyon and Knox Landing Apartments in the West Knoxville neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $879. Here is today’s list of the most affordable Lake City apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Coal Creek Apartment Homes | 1 bedroom | 1BR,1BA | $795 |
| Canyon and Knox Landing Apartments | Knox S1 | Studio,1BA | $879 |
| Royce Hill- Income Restrictions Apply | One Bedroom | 1BR,1BA | $897 |
Best Value Apartments for Rent in Lake City, TN and Nearby
As of May 28, 2026 the best value apartment in the Lake City area is the $1.23 price per square foot The Sycamore Model at Poplar Creek in the starting from $2,295. The second greatest value Lake City apartment is the 2 Bed 2 Bath Model at Secret City Apartments starting at $1,395 with a $1.27 price per square foot . Here is today’s list of the best values for Lake City apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Poplar Creek | The Sycamore | 3BR,2.5BA | $1.23 |
| Secret City Apartments | 2 Bed 2 Bath | 2BR,2BA | $1.27 |
| Views at Elm Grove | 2 Bedroom | 2BR,1BA | $1.39 |
| Williamsburg Village | 2 Bed 1 Bath with washer/dryer | 2BR,1BA | $1.20 |
| Teller Village Apartments | 2 Bedroom | 2BR,2BA | $1.20 |
| Rolling Hills Apartment Homes | The Cumberland | 2BR,1BA | $0.98 |
| Woodbury Crossing | 2 A Floor Plan | 2BR,1BA | $1.21 |
| The Village Apartments | 2 bed 1 bath | 2BR,1BA | $1.22 |
| Royce Hill- Income Restrictions Apply | One Bedroom | 1BR,1BA | $1.20 |
| Coal Creek Apartment Homes | 1 bedroom | 1BR,1BA | $1.14 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Lake City
What type of rentals are currently available in Lake City?
There are currently 50 Apartments for Rent in Lake City, TN with pricing that ranges from $767 to $3,500. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake City ranging from $450 to $2,750.
What is the current price range for Rental Homes in Lake City?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake City ranges from $450 to $2,750 with an average monthly rent of $1,689.
How much are larger Three and Four Bedroom Rentals in Lake City?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Lake City range from $1,099 to $3,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $450 to $2,395. Four Bedroom Single-Family rentals are also available starting from $1,700 and Four Bedroom Apartments start at $2,134.
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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.

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.

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.