Cheap Homes for Rent in Lorraine, NY from $500 (16 Rentals)

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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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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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Lorraine, NY Local Guide

Cheapest Available Lorraine Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lorraine, NY is a Studio unit found at Arsenal Apartments priced from $520. The Solar Building Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $620. Here is today’s list of the most affordable Lorraine apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Arsenal ApartmentsSmall StudioStudio,1BA$520
The Solar Building ApartmentsStudioStudio,1BA$620
City View Apartments1 Bed1BR,1BA$675
The Apartments at Madison BarracksStudio1BR,1BA$750
Kelsey Creek Apartments1 Bedroom 1 bath1BR,1BA$795

Best Value Apartments for Rent in Lorraine, NY and Nearby

As of May 11, 2025 the best value apartment in the Lorraine area is the $0.78 price per square foot Town Home Model at Hycliff Apartments in the starting from $1,320. The second greatest value Lorraine apartment is the 3 Bed 2.5 Bath Townhouse Model at Parkstead Philadelphia starting at $1,421 with a $0.91 price per square foot . Here is today’s list of the best values for Lorraine apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hycliff ApartmentsTown Home3BR,1.5BA$0.78
Parkstead Philadelphia3 Bed 2.5 Bath Townhouse3BR,2.5BA$0.91
Parkstead Clayton3 Bedroom 2.5 Bath Townhouse3BR,2.5BA$1.00
Emerald Acres IIStandard Unit3BR,2.5BA$1.01
Beaver Meadow ApartmentsB2BR,2BA$0.76
Parkstead City Center2 Bed 1 Bath Garden2BR,1BA$1.06
Palmer Street ApartmentsTown Home2BR,1.5BA$0.95
College Heights2 Bedroom2BR,1BA$0.95
Colonial Manor Apartments1 Bedroom1BR,1BA$1.11
City View Apartments1 Bed1BR,1BA$1.13

Quick Rent Budget Calculator

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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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Frequently Asked Questions about Lorraine

What type of rentals are currently available in Lorraine?

There are currently 39 Apartments for Rent in Lorraine, NY with pricing that ranges from $520 to $4,000. There are also 45 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lorraine ranging from $525 to $3,500.

What is the current price range for Rental Homes in Lorraine?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lorraine ranges from $525 to $3,500 with an average monthly rent of $1,432.

How much are larger Three and Four Bedroom Rentals in Lorraine?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Lorraine range from $950 to $2,849, while Three Bedroom Homes, Condos, and Townhomes for rent range from $525 to $2,400. Four Bedroom Single-Family rentals are also available starting from $525 and Four Bedroom Apartments start at $550.

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.

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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.

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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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.