Cheap Apartments for Rent in Lakewood, WA from $700 (147 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

Read Article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
close
View Me
14510 Washington Ave SW
1 Bedroom Apartments

14510 Washington Ave SW

14510 Washington Ave SWLakewood, WA 98498
  • Utilities Included
close
View Me
Lincoln Court Apartments
1 to 2 Bedroom Apartments

Lincoln Court Apartments

12908-12918 Lincoln Ave SWLakewood, WA 98499
  • Utilities Included
close
View Me
LaDobe Apartments
1 to 2 Bedroom Apartments

LaDobe Apartments

4711-4801 121st St SWLakewood, WA 98499
  • Utilities Included
close
View Me
Maple Court Apartments
1 to 2 Bedroom Apartments

Maple Court Apartments

4809 122nd St SWLakewood, WA 98499
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

Read Article
close
View Me
Lakewood Tudor Haus
1 to 2 Bedroom Apartments

Lakewood Tudor Haus

5310 McChord Dr SWLakewood, WA 98499
  • Utilities Included
close
View Me
Garden Square
1 Bedroom Apartments

Garden Square

8616 Hipkins Rd SWLakewood, WA 98498
  • Utilities Included
close
View Me
Hawaiian Village North
Studio to 3 Bedroom Apartments

Hawaiian Village North

40 Thunderbird Pky SWLakewood, WA 98498
Corporate Housing
  • Utilities Included
close
View Me
Village Square
1 to 2 Bedroom Apartments

Village Square

10810 Lakeview Ave SWLakewood, WA 98499
  • Utilities Included
close
View Me
Freiday Apartments
1 to 3 Bedroom Apartments

Freiday Apartments

10915 Freiday St SWLakewood, WA 98499
close
View Me
r45a Laurel Court
1 to 2 Bedroom Apartments

r45a Laurel Court

4702 108th St SWLakewood, WA 98499
  • Utilities Included

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.

Read Article
close
View Me
R72B
1 Bedroom Apartments

R72B

8814 Wadsworth St SWLakewood, WA 98498
close
View Me
Washington Oaks
1 to 2 Bedroom Apartments

Washington Oaks

15308 Washington Ave SWLakewood, WA 98498
  • Utilities Included
close
View Me
Twin Oaks
1 Bedroom Apartments

Twin Oaks

4801 115th Street Ct SWLakewood, WA 98499
close
View Me
Cascade Apartments
1 to 2 Bedroom Apartments

Cascade Apartments

4425 Pacific St SWLakewood, WA 98499
close
View Me
10607 47th Ave SW
1 to 2 Bedroom Apartments

10607 47th Ave SW

10607 47th Ave SWLakewood, WA 98499
close
View Me
The Spinnaker
1 Bedroom Apartments

The Spinnaker

5925 99th St SWLakewood, WA 98499

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.

Read Article
Showing Results 1-50, Page 1 of 3

Lakewood, WA Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Lakewood, WA

Pricing Updated: 09/13/2026

Current apartment rentals in the Lakewood, WA area range in price from $925 to $3,425 with an overall median price of $1,923. The three Lakewood neighborhoods with the lowest median rent pricing are Northeast Lakewood at $1,245, Tillicum at $1,250, and South Lakes at $1,345. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lakewood Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Northeast Lakewood$1,245$99591
Tillicum$1,250$9955
South Lakes$1,345$9957
Central Lakes$1,675$1,15019
Oakbrook$1,800$1,27529
Lake Louise$1,802$1,27532
Interlaken$1,856$1,27564
North Lakewood$1,856$1,16564
Custer$1,899$1,29946
Lake City$1,911$1,145146

Cheapest Available Lakewood Apartments for Rent

 

The cheapest available apartment rental in Lakewood, WA is a 1 Bed unit found at Bridgewood Estates Apartments in the Lakeview neighborhood priced from $995. RSchleigh 6412 - Swan Court in the Lake City neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $995. Here is today’s list of the most affordable Lakewood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bridgewood Estates Apartments1BR/1.0BA1BR,1BA$995
RSchleigh 6412 - Swan Court0BR/1.0BAStudio,1BA$995
Cascade Ridge ApartmentsStudioStudio,1BA$995
The TheodoreStudio (A)Studio,1BA$1,015
Pinegar ManorPinegar Manor1BR,1BA$1,050
The Woodmark1 Bedroom / 1 Bathroom (C)1BR,1BA$1,090
Safe Harbor ApartmentsStudioStudio,1BA$1,090
Sandman Apartments1 Bedroom 1 Bath1BR,1BA$1,095
R72B1BR/1.0BA1BR,1BA$1,095

Best Value Apartments for Rent in Lakewood, WA

As of September 13, 2026 the best value apartment in the Lakewood area is the $1.54 price per square foot Spacious two bedroom units AVAILABLE NOW! Model at Lakeshore Apartments in the in the Midland neighborhood starting from $1,695. The second greatest value Lakewood apartment is the 2BD/1BA - 1,070 SQ FT Model at Mullen Cove Apartments starting at $1,595 with a $1.49 price per square foot in the South Tacoma neighborhood. Here is today’s list of the best values for Lakewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lakeshore ApartmentsSpacious two bedroom units AVAILABLE NOW!2BR,2BA$1.54
Mullen Cove Apartments2BD/1BA - 1,070 SQ FT2BR,1BA$1.49
4707 S. Puget Sound Ave2BR/1.0BA2BR,1BA$1.51
Alta Apartments.1x11BR,1BA$1.52
Briarstone2/1 950sf2BR,1BA$1.58
Timberwood Court2BR2BR,1BA$1.62
Lincoln Ave Apartments LLC2/12BR,1BA$1.50
RSchleigh 7317 - DunDee1BR/1.0BA1BR,1BA$1.37
5123 Seattle Ave SW2BR/1.0BA2BR,1BA$1.51
The Woodmark1 Bedroom / 1 Bathroom (C)1BR,1BA$1.45

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 Article
Decorative image

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

Real 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 Article
Decorative image

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.

decorative image of people with a giant lease agreement

Lakewood Overview

The aptly named Lakewood is comprised of a budding population of just over 50,000 souls, complete with plenty of natural beauty. A close drive from Tacoma and a number of other Washington cities, this 'little big town' has heart and charm to spare.

Why live in Lakewood, WA?

Home to both the Clover Park Techincal School as well as Pierce College, Lakewood is an ideal spot to live for anyone pursuing higher education. The Western State Hospital remains a steady source of local employement as well, and the area's bounty of lakes and hiking trails makes a Lakewood rental pitch-perfect for those who enjoy the great outdoors. 

Lakewood, WA
Population: 60,538

Ranked #622

in US Census Population by City

decorative image of people examining a giant globe and floating graphs

Best Local Schools in
Lakewood, WA

School data provided by Great Schools

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

Explore Lakewood, WA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Lakewood, WA

View Map
Lakewood, WA Apartments Map
View Map
Lakewood, WA Rental Homes Map

Frequently Asked Questions about Cheap Lakewood Apartments

What is a cheap apartment in Lakewood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lakewood is under $1,095.

What is the price of a cheap apartment in Lakewood?

The cheapest apartment in Lakewood is Western Terrace which is listed at $995, while the average apartment in Lakewood costs $1,923.

What types of apartments are the cheapest in Lakewood?

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 68 regular apartments in Lakewood 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 Lakewood?

Cheap apartments in Lakewood have an average cost of $1,025 which is $898 cheaper than the average rent for all rentals in Lakewood.

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 Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.