Cheap Apartments for Rent in the South Lakes Neighborhood of Lakewood, WA from $700 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Lakes area of Lakewood.

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.

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14510 Washington Ave SW
1 Bedroom Apartments

14510 Washington Ave SW

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

Lincoln Court Apartments

12908-12918 Lincoln Ave SWLakewood, WA 98499
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Washington Oaks
1 to 2 Bedroom Apartments

Washington Oaks

15308 Washington Ave SWLakewood, WA 98498
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Pine Ridge Apartments
1 to 2 Bedroom Apartments

Pine Ridge Apartments

5612 Boston Ave SWLakewood, WA 98499
  • Utilities Included

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.

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American Lake Townhomes
1 to 2 Bedroom Apartments

American Lake Townhomes

12506 98th Avenue Ct SWLakewood, WA 98498
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McChord Tudor Haus
2 Bedroom Apartments

McChord Tudor Haus

5506-5510 Chicago Ave SWLakewood, WA 98499
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Union Square
1 Bedroom Apartments

Union Square

14405 Union Ave SWLakewood, WA 98498

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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Edgewood Apartments
1 to 2 Bedroom Apartments

Edgewood Apartments

12211 Edgewood Ave SWLakewood, WA 98498

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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Showing Results 1-29, Page 1 of 1

South Lakes, Lakewood, WA Local Guide

Cheapest Available South Lakes Apartments for Rent

 

The cheapest available apartment rental in the South Lakes area of Lakewood, WA is a 1 Bed unit found at Western Terrace priced from $995. Washington Oaks has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,097. Here are the most affordable South Lakes apartments for rent in Lakewood, WA:

Apartment ListingModel NameBed/BathPriced From
Western TerraceOne Bedroom One Bath1BR,1BA$995
Washington Oaks1X11BR,1BA$1,097
The Crossings Apartments11BR,1BA$1,099
Union Square1 Bedroom 1 Bath1BR,1BA$1,345
Canterbrook VillageOne Bedrooms1BR,1BA$1,450
Edgewood ApartmentsEdgewood 2x12BR,1BA$1,750

Best Value Apartments for Rent in South Lakes, WA

As of April 25, 2026 the best value apartment in the South Lakes area is the $2.41 price per square foot Edgewood 2x1 Model at Edgewood Apartments in the in the Lake City neighborhood starting from $1,750. The second greatest value South Lakes apartment is the 1X1 Model at Washington Oaks starting at $1,097 with a $1.83 price per square foot in the North Fort Lewis neighborhood. Here is today’s list of the best values for South Lakes apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Edgewood ApartmentsEdgewood 2x12BR,1BA$2.41
Washington Oaks1X11BR,1BA$1.83
The Crossings Apartments11BR,1BA$2.11
Canterbrook VillageOne Bedrooms1BR,1BA$2.79
Union Square1 Bedroom 1 Bath1BR,1BA$2.72
Western TerraceOne Bedroom One Bath1BR,1BA$2.37

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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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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

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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.

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Pet Friendly Lifestyle
South Lakes, Lakewood, WA

Ranked #11

Among cities in Washington for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap South Lakes Apartments

How much is rent for a Cheap One Bedroom South Lakes Apartment?

The lowest price for a Cheap One Bedroom South Lakes Apartment is $995 at Western Terrace.

What is the lowest price for a Cheap Two Bedroom South Lakes Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Lakes is starting from $1,225 at The Crossings Apartments.

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 Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

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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.

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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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.