
Cheap Apartments for Rent in the Lake Avenue Neighborhood of Lakewood, OH from $500 (39 Rentals)
Search the lowest-cost Apartments available for rent right now in the Lake Avenue area of Lakewood.


Clarence House

Elbur Avenue

1415 Wyandotte Ave

Clifton Towers

Parkway Arms Apartment

Center North

12810 Detroit Ave

Marine Towers West
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.

The Lewis

1385 Cranford Ave

Shady Cove Apartments

1389-1393 Geil Ave

1533 Warren Rd, Unit Down, Unit Down

13513 Clifton Blvd

1205 St Charles Ave

1337 Cook Ave

1388 Lakewood Ave
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.

1265 Marlowe Ave

14224 Franklin Blvd

12611 Franklin Blvd

1303 Lakeland Ave

fs1363 Cranford Ave

1418 Wyandotte Ave

Total Monthly Price
15103 Lake Ave, Unit 3, Unit 3

South Westerly

Bellecliff & Lakewood Area
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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.

Clifton Cove

Clarence Plaza Apartments

Grace Apartments

Waterbury Apartments

15121 Clifton Blvd

Wingate Apartments

Sheffield Apartments

Clifford Apartments

Arbor Apartments
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12900 Lake Ave

12550 Lake Ave

Parkside
Lake Avenue, Lakewood, OH Local Guide

How much does it cost to rent an apartment in Lake Avenue?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Avenue Studio Apartments | $1,130 | $1,130 | $1,130 |
| Lake Avenue 1 Bedroom Apartments | $1,170 | $800 | $2,000 |
| Lake Avenue 2 Bedroom Apartments | $1,529 | $900 | $2,150 |
| Lake Avenue 3 Bedroom Apartments | $1,723 | $1,575 | $1,850 |
| Lake Avenue 4 Bedroom Apartments | $1,925 | $1,650 | $2,375 |
Browse Apartments in this Neighborhood
There are currently 39 rentals with your search options within a 1 mile radius of the Lake Avenue Neighborhood of Lakewood, OH.
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Lake Avenue, Lakewood, OH Local Guide
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Cheapest Available Lake Avenue Apartments for Rent
 The cheapest available apartment rental in the Lake Avenue area of Cleveland, OH is a 1 Bed unit found at Elbur Avenue priced from $850. Clarence House has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Lake Avenue apartments for rent in Cleveland, OH:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Elbur Avenue | 1 Bedroom 1 Bath | 1BR,1BA | $850 |
| Clarence House | 1 Bed | 1BR,1BA | $850 |
| Clifton Towers | 1 Bedroom 1 Bath | 1BR,1BA | $915 |
| Parkway Arms Apartment | 2 bed / 1 bath | 2BR,1BA | $1,025 |
| Arbor Apartments | 1 Bedroom | 1BR,1BA | $1,100 |
| Center North | Unit F | 1BR,1BA | $1,125 |
| Marine Towers West | 0E1 - Efficiency, 1 Bath | Studio,1BA | $1,130 |
| The Lewis | 1 Bedroom, 1 Bath | 1BR,1BA | $1,150 |
| Shady Cove Apartments | 1 Bed / 1 Bath FT | 1BR,1BA | $1,175 |
Best Value Apartments for Rent in Lake Avenue, OH
As of April 16, 2026 the best value apartment in the Lake Avenue area is the $1.00 price per square foot 1 Bedroom Model at Arbor Apartments in the in the Downtown Lakewood neighborhood starting from $1,100. The second greatest value Lake Avenue apartment is the 1651 Victoria Ave Model at 1651 Victoria Ave, Unit 1 starting at $1,200 with a $1.30 price per square foot in the Downtown Lakewood neighborhood. Here is today’s list of the best values for Lake Avenue apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Arbor Apartments | 1 Bedroom | 1BR,1BA | $1.00 |
| 1651 Victoria Ave, Unit 1 | 1651 Victoria Ave | 1BR,1BA | $1.30 |
| Center North | Unit F | 1BR,1BA | $1.40 |
| Parkway Arms Apartment | 2 bed / 1 bath | 2BR,1BA | $1.32 |
| Shady Cove Apartments | 1 Bed / 1 Bath FT | 1BR,1BA | $1.68 |
| The Lewis | 1 Bedroom, 1 Bath | 1BR,1BA | $1.80 |
| Clifton Towers | 1 Bedroom 1 Bath | 1BR,1BA | $1.53 |
| Elbur Avenue | 1 Bedroom 1 Bath | 1BR,1BA | $1.55 |
| Marine Towers West | 0E1 - Efficiency, 1 Bath | Studio ,1BA | $2.05 |
| Clarence House | 1 Bed | 1BR,1BA | $1.65 |
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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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.
Best Local Schools in Lake Avenue, Lakewood, OH
School data provided by Great Schools
Lifestyle Ratings
Our team compares millions of points of data to bring you Lifestyle Ratings of rentals and neighborhoods across the USA, including Lake Avenue, Lakewood, and the greater Cleveland area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap Lake Avenue Apartments
What is the price of a cheap apartment in Lake Avenue?
The cheapest apartment in Lake Avenue is Elbur Avenue which is listed at $850, while the average apartment in Lake Avenue costs $1,795.
What types of apartments are the cheapest in Lake Avenue?
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 11 regular apartments in Lake Avenue 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.
Helpful Local Expert Guides

A Cleveland Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent
Written by: Sandy Baker
Choosing the ideal place to call home in Cleveland may mean selecting a neighborhood that offers excellent access to the freeways or good overall schools for the kids.

Experts Guide to The Top Neighborhoods to Rent Near Major Colleges and Universities in Cleveland
Written by: Sandy Baker
Whether you're moving to Cleveland to be close to one of the research hubs several of the local universities are known for or you just want to be part of it all in "The Land" knowing where to rent apartments close to the biggest .

Your Official Guide to the Top Neighborhoods to Rent Near Major Employers in Cleveland
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If you’re moving to start a new job, knowing where to live can be overwhelming. Factors like being close to work are important, but so are schools, quality of life, and easy access to transportation.

Cleveland Rocks: Your Essential Guide to the Lands Neighborhoods and Culture
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Cleveland is the type of city to fall in love with, even if it doesn’t look all that fabulous from the outside.
Articles, How-To's, and Tips

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.

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Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

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.