602 N Pennsylvania Ave, Unit #3
602 N Pennsylvania Ave
LansingMI48912
Cheap Homes for Rent in Shepard Street Area Lansing, MI from $600 (11 Rentals)
Search the lowest-cost Homes available for rent right now in the Shepard Street Area area of Lansing.
1023 N Walnut St
LansingMI48906
1021 N Walnut St
LansingMI48906
917 Seymour Ave
LansingMI48906
220 W Lapeer St
LansingMI48933
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.
1016 N Capitol Ave
LansingMI48906
427 Seymour Ave
LansingMI48933
1018 N Pennsylvania Ave
LansingMI48906
316 W Saginaw St
LansingMI48933
801 N Capitol Ave
LansingMI48906
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.
323 W Saginaw St
LansingMI48933
Showing Results 1-11, Page 1 of 1
Shepard Street Area, Lansing, MI Local Guide
How much does it cost to rent a home in Shepard Street Area?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Shepard Street Area 2 Bedroom Homes for Rent | $1,106 | $899 | $1,500 |
| Shepard Street Area 3 Bedroom Homes for Rent | $1,377 | $1,175 | $1,800 |
| Shepard Street Area 4 Bedroom Homes for Rent | $1,770 | $1,100 | $2,395 |
| Shepard Street Area 5 Bedroom Homes for Rent | $2,700 | $1,650 | $3,750 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 11 rentals with your search options within a 2 mile radius of the Shepard Street Area Neighborhood of Lansing, MI.
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Shepard Street Area, Lansing, MI Local Guide
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Cheapest Available Shepard Street Area Apartments for Rent
The cheapest available apartment rental in the Shepard Street Area area of Lansing, MI is a 1 Bed unit found at Reside 517 LLC priced from $650. Walnut Flatz has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Shepard Street Area apartments for rent in Lansing, MI:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Reside 517 LLC | 1BR/1.0BA | 1BR,1BA | $650 |
| Walnut Flatz | 1 Bedroom/1 Bath | 1BR,1BA | $700 |
| Pennsylvania Flatz | 1 Bedroom/1 Bath | 1BR,1BA | $750 |
| 927 W. Shiawassee St. #2-12 | A * 1BR | 1BR,1BA | $750 |
| Shiawassee Apartments LLC (723 W Shiawassee, LLC) | Shiawassee Apartments - Studio | Studio,1BA | $750 |
Best Value Apartments for Rent in Shepard Street Area, MI
As of May 28, 2026 the best value apartment in the Shepard Street Area area is the $0.27 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 $625. The second greatest value Shepard Street Area apartment is the 4 BEDROOM/4 BATHROOM - D1 Model at Skyvue MI starting at $849 with a $0.63 price per square foot in the Square One neighborhood. Here is today’s list of the best values for Shepard Street Area apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 501 N Walnut St, Unit 1 | 501 N Walnut St | 1BR,1BA | $0.27 |
| Skyvue MI | 4 BEDROOM/4 BATHROOM - D1 | 4BR,4BA | $0.63 |
| 424 W Saginaw St, Unit 1 - Down | 424 W Saginaw St | 2BR,1BA | $0.72 |
| Campus Village-E. Lansing | 3 Bedroom 3 Bathroom | 3BR,3BA | $0.85 |
| 917 S Pennsylvania Ave, Unit Lower | 917 S Pennsylvania Ave | 1BR,1BA | $0.90 |
| Kimberly House Apartments | 2 Beds, 1 bath | 2BR,1BA | $0.91 |
| Colonial Place Apartments | 1 BR / 1 Bath | 1BR,1BA | $0.83 |
| Abigail Senior | The Phebe 60% | 1BR,1BA | $1.06 |
| Walnut Flatz | 1 Bedroom/1 Bath | 1BR,1BA | $1.00 |
| Pennsylvania Flatz | 1 Bedroom/1 Bath | 1BR,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.
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.
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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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Best Local Schools in Shepard Street Area, Lansing, MI
School data provided by Great Schools
Frequently Asked Questions about Shepard Street Area
What type of rentals are currently available in Shepard Street Area?
There are currently 278 Apartments for Rent in Shepard Street Area, MI with pricing that ranges from $585 to $4,250. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Shepard Street Area ranging from $695 to $3,750.
What is the current price range for Rental Homes in Shepard Street Area?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Shepard Street Area ranges from $695 to $3,750 with an average monthly rent of $1,576.
How much are larger Three and Four Bedroom Rentals in Shepard Street Area?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Shepard Street Area range from $1,035 to $3,250, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,175 to $1,800. Four Bedroom Single-Family rentals are also available starting from $1,100 and Four Bedroom Apartments start at $849.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.
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.
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.