
Cheap Apartments for Rent in Lyme, CT from $700 (52 Rentals)
Search the lowest-cost Apartments available for rent right now in Lyme.


Crocker House

Victoria Gardens

Washington Street Apartments

Pride Point and Progress Point

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Bayonet Street Apartments

Highland Apartments

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120 Broad St

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Villages at Shore Landing

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Country Place
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.

Courtview Square Apartments

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Rocky Neck Village

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Faire Harbour Landings

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Deerfield Village

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Gull Harbor Apartments

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Nutmeg Woods

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ReNew Washington Park

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Brookside Commons

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The Docks

Eagle Pointe
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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Groton Towers

61 Bank St

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The Beam

Harbor View

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60 Mansfield Road

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Colchester Estates

Bay Point Apartments

70 Pond Meadow Rd

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The Sound at Gateway Commons

Trident Park Townhomes
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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60 Mansfield Road Phase II

Central @ Waterford Woods

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ReNew Norwich

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The Edgewater

Bridge Road Commons

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Pleasant Valley Apartments

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12 Sharaf St

The Grand

Oxoboxo Lofts

8 Bank St
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.

173-175 Norwich-New London Turnpike

1500 Boston Post Rd

Garfield Avenue Apartments

26 Sunset Ter

Four Seasons of Colchester

Riverbank Luxury Apartments

70 Pond Meadow Rd

Blueway Commons

115 Ayers Point Rd

14 Stoney Brook Dr
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.
Lyme, CT Local Guide

How much does it cost to rent an apartment in Lyme?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lyme Studio Apartments | $1,657 | $1,350 | $2,689 |
| Lyme 1 Bedroom Apartments | $1,898 | $710 | $2,880 |
| Lyme 2 Bedroom Apartments | $2,240 | $864 | $4,636 |
| Lyme 3 Bedroom Apartments | $2,899 | $1,400 | $3,815 |
Browse Top Apartments in Lyme
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Lyme, CT Local Guide
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Cheapest Available Lyme Apartments for Rent and Nearby
 The cheapest available apartment rental in Lyme, CT is a 2 Beds unit found at Oxoboxo Lofts in the Northeast New London Norwich neighborhood priced from $1,084. Crocker House has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,100. Here is today’s list of the most affordable Lyme apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Oxoboxo Lofts | 2 Bedroom | 2BR,1BA | $1,084 |
| Crocker House | Studio | 2BR,2BA | $1,100 |
| Pride Point and Progress Point | Two Bedroom | 2BR,1BA | $1,200 |
| Bayonet Street Apartments | Bayo II - One Bed One Bath | 1BR,1BA | $1,263 |
| Washington Street Apartments | 1 BR/ 1 BA | 1BR,1BA | $1,300 |
| Highland Apartments | One Bedroom | Studio,1BA | $1,350 |
| Villages at Shore Landing | Cove | Studio,1BA | $1,355 |
| 120 Broad St | Studio | Studio,1BA | $1,400 |
| Courtview Square Apartments | A1 | 1BR,1BA | $1,475 |
| Nutmeg Woods | The Aspen | 1BR,1BA | $1,570 |
Best Value Apartments for Rent in Lyme, CT and Nearby
As of May 27, 2026 the best value apartment in the Lyme area is the $2.18 price per square foot Flagship Townhouse Model at The Cove at Gateway Commons in the in the Southwest New London Lyme neighborhood starting from $3,315. The second greatest value Lyme apartment is the 3 bedroom - MKT Model at Rocky Neck Village starting at $2,650 with a $1.88 price per square foot in the South Lyme neighborhood. Here is today’s list of the best values for Lyme apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Cove at Gateway Commons | Flagship Townhouse | 2BR,2BA | $2.18 |
| Rocky Neck Village | 3 bedroom - MKT | 3BR,2BA | $1.88 |
| The Edgewater | Sailfish 2 | 2BR,2BA | $2.07 |
| Central @ Waterford Woods | Great Neck - Loft Unit 2BR/2BA - Buildings G, H... | 2BR,2BA | $2.24 |
| Oxoboxo Lofts | 2 Bedroom | 2BR,2BA | $1.77 |
| Pride Point and Progress Point | Two Bedroom | 2BR,1.5BA | $1.13 |
| Colchester Estates | 410 | 2BR,1BA | $1.80 |
| 70 Pond Meadow Rd | 2 Bedroom | 2BR,1BA | $1.89 |
| Brookside Commons | 1 bedroom - Market | 1BR,1BA | $1.75 |
| Washington Street Apartments | 1 BR/ 1 BA | 1BR,1BA | $1.63 |
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 ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lyme, CT Rentals by Map
See the most popular apartments and homes in Lyme, CT
Frequently Asked Questions about Cheap Lyme Apartments
What is the Cheapest Studio apartment in Lyme?
Currently the most affordable Cheap Studio Apartment in Lyme is at Highland Apartments listed at $1,350.
How much is rent for a Cheap One Bedroom Lyme Apartment?
The lowest price for a Cheap One Bedroom Lyme Apartment is $1,100 at Crocker House.
What is the lowest price for a Cheap Two Bedroom Lyme Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Lyme is starting from $1,084 at Oxoboxo Lofts.
What is the most affordable Lyme Three Bedroom Apartment?
The best deal on a cheap Lyme Three Bedroom Apartment rental is at Pride Point and Progress Point and starts from $1,400.
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.