Cheap Homes for Rent in Mercer Island, WA from $1,300 (10 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Mercer Island.

property at 5220 42nd Ave S

5220 42nd Ave S

SeattleWA98118

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.

Read Article

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.

Read Article
Showing Results 1-10, Page 1 of 1

Mercer Island, WA Local Guide

Cheapest Available Mercer Island Apartments for Rent and Nearby

 

The cheapest available apartment rental in Mercer Island, WA is a Studio unit found at Ethiopian Village in the Dunlap neighborhood priced from $1,009. LAKE WASHINGTON APARTMENTS in the Dunlap neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,346. Here is today’s list of the most affordable Mercer Island apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ethiopian VillageStudioStudio,1BA$1,009
LAKE WASHINGTON APARTMENTS1x11BR,1BA$1,346
Mar Vista Apartmentsone bed1BR,1BA$1,500

Best Value Apartments for Rent in Mercer Island, WA and Nearby

As of June 08, 2025 the best value apartment in the Mercer Island area is the $2.33 price per square foot 4549 125th Ave SE Model at 4549 125th Ave SE, Unit A in the in the Fortuna neighborhood starting from $3,150. The second greatest value Mercer Island apartment is the Spinnaker Model at Bella Vista starting at $3,209 with a $2.51 price per square foot in the Kennydale neighborhood. Here is today’s list of the best values for Mercer Island apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
4549 125th Ave SE, Unit A4549 125th Ave SE2BR,1BA$2.33
Bella VistaSpinnaker2BR,2BA$2.51
Commodore2x1.52BR,1.5BA$2.22
Park 4332X1R2BR,1BA$2.50
77 CentralThe Henry1BR,1BA$3.16
Mar Vista Apartmentsone bed1BR,1BA$2.00
Emerald Ridge1 Bed 1 Bath1BR,1BA$2.92
2000 Lake Washington ApartmentsOne Bed One Bath1BR,1BA$3.07
Park Plaza Apartments1 Bedroom 1 Bath1BR,1BA$3.38
Ethiopian VillageStudioStudio ,1BA$2.83

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Mercer Island

What type of rentals are currently available in Mercer Island?

There are currently 172 Apartments for Rent in Mercer Island, WA with pricing that ranges from $1,009 to $15,713. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mercer Island ranging from $1,300 to $11,000.

What is the current price range for Rental Homes in Mercer Island?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Mercer Island ranges from $1,300 to $11,000 with an average monthly rent of $4,854.

How much are larger Three and Four Bedroom Rentals in Mercer Island?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Mercer Island range from $2,231 to $15,713, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,880 to $5,300. Four Bedroom Single-Family rentals are also available starting from $3,250 and Four Bedroom Apartments start at $3,200.

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.

decorative image for The 10 Best Affordable Neighborhoods in Seattle, WA article

The 10 Best Affordable Neighborhoods in Seattle, WA

Written by: Sharon Stallings

I'm Sharon, your ApartmentHomeLiving.com Local Expert for Seattle, Washington. My husband, two children, and I moved to West Seattle in 1995.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

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.