
Cheap Apartments for Rent in the Lake Avenue Neighborhood of Lakewood, OH from $500 (31 Rentals)
Search the lowest-cost Apartments available for rent right now in the Lake Avenue area of Lakewood.


Total Monthly Price
1247 Donald Ave, Unit 3

14814 Clifton Blvd

Elbur Avenue

1282 Nicholson Ave

Waterbury Apartments

Clifton Towers
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.

Parkway Arms Apartment

1212 Donald Ave

Center North

Marine Towers West

The Lewis

Shady Cove Apartments

12700 Lake Ave, Unit 811
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.

1271 Jackson Ave

Arbor Apartments

Total Monthly Price
1305 Hathaway Ave, Unit 1

Total Monthly Price
1245 Cranford Ave, Unit 1245

12700 Lake Ave

South Westerly

Bellecliff & Lakewood Area
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.

Clarence Plaza Apartments

Clifton Cove

Grace Apartments

15121 Clifton Blvd

Wingate Apartments

Sheffield Apartments

Clifford Apartments
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.

1235 Donald Ave

1235 Donald Ave, Unit Upper North

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 | $1,153 | $1,130 | $1,170 |
| Lake Avenue 1 Bedroom Apartments | $1,250 | $850 | $2,225 |
| Lake Avenue 2 Bedroom Apartments | $1,481 | $950 | $2,150 |
| Lake Avenue 3 Bedroom Apartments | $1,795 | $1,795 | $1,795 |
| Lake Avenue 4 Bedroom Apartments | $1,750 | $1,750 | $1,750 |
Browse Apartments in this Neighborhood
There are currently 31 rentals with your search options within a 1 mile radius of the Lake Avenue Neighborhood of Lakewood, OH.
See all Apartments in LakewoodExplore Lakewood
Lake Avenue, Lakewood, OH Local Guide
- Nearby Lakewood neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 Clarence House priced from $850. Clifton Towers has the second lowest priced unit, which is a 1 Bed apartment currently listed from $915. Here are the most affordable Lake Avenue apartments for rent in Cleveland, OH:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 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 |
| Marine Towers West | 0E1 - Efficiency, 1 Bath | Studio,1BA | $1,130 |
| The Lewis | 2 Bedroom, 1 Bath | 2BR,1BA | $1,400 |
| Arbor Apartments | 2 Bedroom | 2BR,1BA | $1,500 |
Best Value Apartments for Rent in Lake Avenue, OH
As of June 08, 2026 the best value apartment in the Lake Avenue area is the $1.36 price per square foot 2 Bedroom Model at Arbor Apartments in the in the Downtown Lakewood neighborhood starting from $1,500. The second greatest value Lake Avenue apartment is the 1245 Cranford Ave Model at 1245 Cranford Ave, Unit 1245 starting at $1,600 with a $1.45 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 | 2 Bedroom | 2BR,1BA | $1.36 |
| 1245 Cranford Ave, Unit 1245 | 1245 Cranford Ave | 2BR,1BA | $1.45 |
| The Lewis | 2 Bedroom, 1 Bath | 2BR,1BA | $1.65 |
| Parkway Arms Apartment | 2 bed / 1 bath | 2BR,1BA | $1.32 |
| 1247 Donald Ave, Unit 3 | 1247 Donald Ave | 1BR,1BA | $1.46 |
| Clifton Towers | 1 Bedroom 1 Bath | 1BR,1BA | $1.53 |
| Marine Towers West | 0E1 - Efficiency, 1 Bath | Studio ,1BA | $2.05 |
| Clarence House | 1 Bed | 1BR,1BA | $1.65 |
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.
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 Clarence House 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 5 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
Written by: Sandy Baker
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
Written by: Sandy Baker
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

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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.