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Cheap Apartments for Rent in Lakewood, WA from $500 (58 Rentals)
Search the lowest-cost Apartments available for rent right now in Lakewood.
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Rent Specials
from $1,0991 to 2 Bedroom Apartments Available Now
Lakewood Meadows Senior Affordable Apartments
5228 112th St SWLakewood, WA 98499
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from $1,1001 Bedroom Apartments Contact Us For Availability
Twin Oaks
4801 115th Street Ct SWLakewood, WA 98499
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Rent Specials
from $1,1151 to 2 Bedroom Apartments Available Now
The Crossings Apartments
6503 150th St SWLakewood, WA 98439
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from $1,1951 to 2 Bedroom Apartments Available Now
Sundance Apartments
7427 Lakewood Dr WLakewood, WA 98499
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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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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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1 to 2 Bedroom Apartments
4815-4901 115th Street Ct SW
4815-4901 115th Street Ct SWLakewood, WA 98499
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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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from $995Studio to 2 Bedroom Apartments Available Now
Indigo Apartments
8726-8736 S Hosmer StTacoma, WA 98444
6415 Steilacoom Blvd SW
TacomaWA98499
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Rent Specials
from $1,050Studio to 1 Bedroom Apartments Available Jul 25
Cascade Ridge Apartments
8702 S Hosmer StTacoma, WA 98444
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from $1,0901 to 2 Bedroom Apartments Available Now
The Woodmark
2425 S 96th StTacoma, WA 98444
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from $1,100Studio to 2 Bedroom Apartments Contact Us For Availability
Steilacoom Woods
2504 Woods DrSteilacoom, WA 98388
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from $999Studio to 2 Bedroom Apartments Available Now
The Theodore
8801 S Hosmer StTacoma, WA 98444
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from $1,145Studio to 3 Bedroom Apartments Available Now
Westmall Terrace Apartments
4720 S Pine StTacoma, WA 98409
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from $1,150Studio Apartments Available Now
Safe Harbor Apartments
8820 S Hosmer StTacoma, WA 98444
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from $1,1751 Bedroom Apartments Available Now
Ash Creek Apartments
1420 112th St STacoma, WA 98444
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.
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from $1,1951 to 2 Bedroom Apartments Available Now
Fort Steilacoom Apartments
205 Rigney RdSteilacoom, WA 98388
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from $1,1951 to 2 Bedroom Apartments Available Now
Westwood Apartments
3022 Steilacoom Blvd SWSteilacoom, WA 98388
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Lakewood, WA Local Guide
Sunrise over Mt. Rainier in Lakewood by Razvan Orendovici is licensed under CC BY 2.0
How much does it cost to rent an apartment in Lakewood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Lakewood Studio Apartments | $1,290 | $995 | $1,700 |
| Cheap Lakewood 1 Bedroom Apartments | $1,498 | $950 | $2,199 |
| Cheap Lakewood 2 Bedroom Apartments | $1,894 | $1,195 | $4,135 |
| Cheap Lakewood 3 Bedroom Apartments | $2,352 | $1,800 | $3,000 |
| Cheap Lakewood 4 Bedroom Apartments | $3,105 | $3,105 | $3,105 |
Browse Top Apartments in Lakewood
See all Apartments in LakewoodExplore Lakewood
Lakewood, WA Local Guide
Written By:
Justin HabersaatEditing Staff
- Lakewood Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Lakewood, WA
Pricing Updated: 07/08/2025Current apartment rentals in the Lakewood, WA area range in price from $950 to $3,500 with an overall median price of $2,537. The three Lakewood neighborhoods with the lowest median rent pricing are Tillicum at $995, Northeast Lakewood at $995, and South Lakes at $995. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lakewood Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Tillicum | $1,425 | $995 | 15 |
| Northeast Lakewood | $1,950 | $995 | 34 |
| South Lakes | $2,100 | $995 | 17 |
| Pacific | $2,247 | $1,099 | 24 |
| Clover Park | $2,364 | $1,099 | 16 |
| Lakeview | $2,364 | $1,050 | 23 |
| Lakeview Tacoma | $2,364 | $1,099 | 22 |
| Central Lakes | $2,379 | $1,050 | 20 |
| Clinton Park | $2,464 | $1,050 | 26 |
| Oakbrook | $2,477 | $950 | 82 |
Cheapest Available Lakewood Apartments for Rent
The cheapest available apartment rental in Lakewood, WA is a 1 Bed unit found at Western Terrace in the North Fort Lewis neighborhood priced from $995. Indigo Apartments in the South End 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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Western Terrace | One Bedroom One Bath | 1BR,1BA | $995 |
| Indigo Apartments | Studio (S1) | Studio,1BA | $995 |
| The Theodore | Studio (A) | Studio,1BA | $999 |
| The Woodmark | 1 Bedroom / 1 Bathroom (C) | 1BR,1BA | $1,090 |
| Thea Apartments | Studio (M) | Studio,1BA | $1,095 |
| The Crossings Apartments | 1 | 1BR,1BA | $1,115 |
| The Village at SoTa | Studio 480 | Studio,1BA | $1,140 |
| Safe Harbor Apartments | Studio | Studio,1BA | $1,150 |
| Ash Creek Apartments | 1x1 | 1BR,1BA | $1,175 |
| Fort Steilacoom Apartments | 1 Bedroom | 1BR,1BA | $1,195 |
Best Value Apartments for Rent in Lakewood, WA
As of July 09, 2025 the best value apartment in the Lakewood area is the $1.75 price per square foot 350 RTH Model at Madrona Estates in the in the Oakbrook neighborhood starting from $2,100. The second greatest value Lakewood apartment is the 15422 Rose Rd SW Model at 15422 Rose Rd SW, Unit A starting at $1,800 with a $1.50 price per square foot in the North Fort Lewis neighborhood. Here is today’s list of the best values for Lakewood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Madrona Estates | 350 RTH | 2BR,1.5BA | $1.75 |
| 15422 Rose Rd SW, Unit A | 15422 Rose Rd SW | 2BR,1BA | $1.50 |
| Stonegate Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.70 |
| Alta Apartments. | 1x1 | 1BR,1BA | $1.52 |
| Valley Vista | 2 BED 1 BATH | 2BR,1BA | $1.56 |
| Olympic Terrace | 980 | 2BR,2BA | $1.79 |
| Orchard Terrace | Two Bedroom | 2BR,1.5BA | $1.78 |
| Hillside Glen Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.64 |
| Latitude 47 | Studio | Studio ,1BA | $1.71 |
| The Woodmark | 1 Bedroom / 1 Bathroom (C) | 1BR,1BA | $1.45 |
Quick Rent Budget Calculator
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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.
Best Local Schools in Lakewood, WA
Lake Louise Elementary School
Clover Park School District
Public School - Grades PK-5 (466)
7 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lakewood, WA Rentals by Map
See the most popular apartments and homes in Lakewood, WA
Lakewood, WA Apartments MapLakewood, WA Rental Homes MapGetting Around Lakewood, WA
Walk Score®
57 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
51 / 100
Bikeable
Some bike infrastructure
Transit Score®
1 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $1,195.
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 $2,537.
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 37 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 $303 which is $2,234 cheaper than the average rent for all rentals in Lakewood.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.