Cheap Apartments for Rent in the REO Town Neighborhood of Lansing, MI from $400 (81 Rentals)

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Search the lowest-cost Apartments available for rent right now in the REO Town 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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South Reo Apartments
1 Bedroom Apartments

South Reo Apartments

2920 S Washington AveLansing, MI 48910
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916 W Ottawa St
1 to 2 Bedroom Apartments

916 W Ottawa St

916 W Ottawa StLansing, MI 48915
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Somerset Apartments
1 to 2 Bedroom Apartments

Somerset Apartments

1401 W Holmes RdLansing, MI 48910
Senior Living

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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Colonial Woods
1 to 2 Bedroom Apartments

Colonial Woods

2001 W Mount Hope AveLansing, MI 48910
Senior Living
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Riverfront Towers
1 to 2 Bedroom Apartments

Riverfront Towers

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

Capital Manor

515-524 S Chestnut StLansing, MI 48933
Corporate Housing
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Midtown Apartments
Studio to 1 Bedroom Apartments

Midtown Apartments

224 W Kalamazoo StLansing, MI 48933
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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
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Chestnut Flatz
Studio to 1 Bedroom Apartments

Chestnut Flatz

1216 N Chestnut StLansing, MI 48906
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Simken Flatz
1 to 2 Bedroom Apartments

Simken Flatz

3501 Simken DrLansing, MI 48910

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REO Town, Lansing, MI Local Guide

Cheapest Available REO Town Apartments for Rent

 

The cheapest available apartment rental in the REO Town 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 REO Town 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
Reside 30311 BR / 1 Bath1BR,1BA$725
Windemere Apartments1 Bed, 1 bath1BR,1BA$734
Colonial Place Apartments1 BR / 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 REO Town, MI

As of July 23, 2026 the best value apartment in the REO Town 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 REO Town 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 REO Town 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
Green Oaks Apartments2 BR / 1 Bath2BR,1BA$1.12
Capitol ParkThe One Bedroom1BR,1BA$1.02
Walnut Flatz1 Bedroom/1 Bath1BR,1BA$1.00
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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Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you comprehensive Lifestyle Ratings of neighborhoods, areas, and rental properties across Michigan, including Lansing. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, features that make it easier to raise kids, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap REO Town Apartments

What is a cheap apartment in REO Town?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in REO Town is under $807.

What is the price of a cheap apartment in REO Town?

The cheapest apartment in REO Town is Reside 517 LLC which is listed at $675, while the average apartment in REO Town costs $1,915.

What types of apartments are the cheapest in REO Town?

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 13 regular apartments in REO Town 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 REO Town?

Cheap apartments in REO Town have an average cost of $167 which is $1,748 cheaper than the average rent for all rentals in REO Town.

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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