Cheap Apartments for Rent in the Old Town Lansing Neighborhood of Lansing, MI from $500 (73 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Old Town Lansing area of Lansing.

property at 123 S Francis Ave

$750

Total Monthly Price

Total Monthly Price

Base Rent
$750
Total Monthly Price
$750

3 Bedroom, 2 Bath Home for Rent

Available Jul 31

123 S Francis Ave

LansingMI48912

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

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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.

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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.

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916 W Ottawa St
1 to 2 Bedroom Apartments

916 W Ottawa St

916 W Ottawa StLansing, MI 48915
  • Utilities Included
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Riverfront Towers
1 to 2 Bedroom Apartments

Riverfront Towers

601 N Cedar StLansing, MI 48912
Senior Living
  • Utilities Included
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Capital Manor
Studio to 2 Bedroom Apartments

Capital Manor

515-524 S Chestnut StLansing, MI 48933
Corporate Housing
  • 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.

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Midtown Apartments
Studio to 1 Bedroom Apartments

Midtown Apartments

224 W Kalamazoo StLansing, MI 48933
  • Utilities Included
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Walnut Flatz
1 to 2 Bedroom Apartments

Walnut Flatz

826 N Walnut StLansing, MI 48906
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319 E Hillsdale
1 to 2 Bedroom Apartments

319 E Hillsdale

319 E Hillsdale StLansing, MI 48933
  • Utilities Included
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Chestnut Flatz
Studio to 1 Bedroom Apartments

Chestnut Flatz

1216 N Chestnut StLansing, MI 48906
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Washington Apartments
Studio to 1 Bedroom Apartments

Washington Apartments

927 S Washington AveLansing, MI 48910
  • Utilities Included
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532 Townsend St
1 to 2 Bedroom Apartments

532 Townsend St

532 Townsend StLansing, MI 48933
  • Smoke Free

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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Showing Results 1-50, Page 1 of 2

Old Town Lansing, Lansing, MI Local Guide

Cheapest Available Old Town Lansing Apartments for Rent

 

The cheapest available apartment rental in the Old Town Lansing area of Lansing, MI is a 1 Bed unit found at Reside 517 LLC priced from $675. Walnut Flatz has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Old Town Lansing apartments for rent in Lansing, MI:

Apartment ListingModel NameBed/BathPriced From
Reside 517 LLC1BR/1.0BA1BR,1BA$675
Walnut Flatz1 Bedroom/1 Bath1BR,1BA$700
Windemere Apartments1 Bed, 1 bath1BR,1BA$734
Colonial Place Apartments1 BR / 1 Bath1BR,1BA$750
Pennsylvania Flatz1 Bedroom/1 Bath1BR,1BA$750
927 W. Shiawassee St. #2-12A * 1BR1BR,1BA$750
Shiawassee ApartmentsShiawassee Apartments - StudioStudio,1BA$750
Shiawassee Apartments1 BR / 1 Bath1BR,1BA$775
Capitol ParkThe One Bedroom1BR,1BA$807

Best Value Apartments for Rent in Old Town Lansing, MI

As of July 22, 2026 the best value apartment in the Old Town Lansing area is the $0.26 price per square foot 501 N Walnut St Model at 501 N Walnut St, Unit 1 in the in the Downtown Lansing neighborhood starting from $595. The second greatest value Old Town Lansing apartment is the 609 Bluff St Model at 609 Bluff St starting at $1,400 with a $0.82 price per square foot in the North Lansing neighborhood. Here is today’s list of the best values for Old Town Lansing apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
501 N Walnut St, Unit 1501 N Walnut St1BR,1BA$0.26
609 Bluff St609 Bluff St3BR,1BA$0.82
433 N Seymour St3 Beds, 1 Baths3BR,1BA$1.12
Kimberly House Apartments2 Beds, 1 bath2BR,1BA$0.91
Brentwood Apartments (460 Silver LLC)Brentwood Apartments - Two Bedroom *FREE FIRST ...2BR,1BA$1.08
Colonial Place Apartments1 BR / 1 Bath1BR,1BA$0.83
Capitol ParkThe One Bedroom1BR,1BA$1.02
Walnut Flatz1 Bedroom/1 Bath1BR,1BA$1.00
Pennsylvania Flatz1 Bedroom/1 Bath1BR,1BA$1.07
927 W. Shiawassee St. #2-12A * 1BR1BR,1BA$1.07

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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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.

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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
Old Town Lansing, Lansing, MI

Ranked #20

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

This website compiles millions of data points to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Old Town Lansing, Lansing, and the greater Lansing area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, multifamily communities for the kids, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Old Town Lansing Apartments

What is the Cheapest Studio apartment in Old Town Lansing?

Currently the most affordable Cheap Studio Apartment in Old Town Lansing is at Shiawassee Apartments listed at $750.

How much is rent for a Cheap One Bedroom Old Town Lansing Apartment?

The lowest price for a Cheap One Bedroom Old Town Lansing Apartment is $675 at Reside 517 LLC.

What is the lowest price for a Cheap Two Bedroom Old Town Lansing Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Old Town Lansing is starting from $799 at Shiawassee Apartments.

What is the most affordable Old Town Lansing Three Bedroom Apartment?

The best deal on a cheap Old Town Lansing Three Bedroom Apartment rental is at 433 N Seymour St and starts from $1,395.

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

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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.

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.