Cheap Homes for Rent in Mountlake Terrace, WA from $1,200 (32 Rentals)

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Search the lowest-cost Homes available for rent right now in Mountlake Terrace.

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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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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property at 5003 240th Pl SW

$1,400

Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400

2 Bedroom, 1 Bath Home for Rent

Available Now

5003 240th Pl SW

Mountlake TerraceWA98043

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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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.

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Showing Results 1-32, Page 1 of 1

Mountlake Terrace, WA Local Guide

Cheapest Available Mountlake Terrace Apartments for Rent

 

The cheapest available apartment rental in Mountlake Terrace, WA is a 2 Beds unit found at Pinewood Square Apartment Homes in the Seattle Heights neighborhood priced from $315. Sunrise 11 in the Shoreline neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,275. Here is today’s list of the most affordable Mountlake Terrace apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Pinewood Square Apartment HomesTwo Bedroom One Bathroom2BR,1BA$315
Sunrise 111x1 Afforable1BR,1BA$1,275
The Blakely at Echo Lake1 Bed 1 Bath1BR,1BA$1,299
Arabella Apartment HomesStudio IStudio,1BA$1,369
OctaviaOne Bedroom C1BR,1BA$1,392
Two 10 by Vintage0BD, 1BTH CStudio,1BA$1,399
Koz on Alderwood Mall BlvdType DStudio,1BA$1,400
Wildwood Apartments1x1 - 644 SQFT1BR,1BA$1,467
Hazel ApartmentsPlumeria1BR,1BA$1,495
Compass ApartmentsThe Waldron, The Decatur and The Sucia1BR,1BA$1,500

Best Value Apartments for Rent in Mountlake Terrace, WA

As of July 08, 2026 the best value apartment in the Mountlake Terrace area is the $1.83 price per square foot 2 Beds, 1 bath Model at Hillside Apartments in the in the Meadowdale neighborhood starting from $1,995. The second greatest value Mountlake Terrace apartment is the Two Bedroom (Shared Laundry) Model at Whispering Cedars starting at $1,840 with a $1.84 price per square foot in the Seattle Heights neighborhood. Here is today’s list of the best values for Mountlake Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hillside Apartments2 Beds, 1 bath2BR,1BA$1.83
Whispering CedarsTwo Bedroom (Shared Laundry)2BR,2BA$1.84
Scriber Creek ApartmentsBluebell2BR,2BA$1.74
QUINN BY VINTAGET9622A2BR,2BA$1.72
Beaver Creek3 Bedroom 1 Bath 60% AMI3BR,1BA$2.12
Sunset Villa2BR/1.0BA2BR,1BA$2.03
19837 25th Ave NE2 Beds, 1 Baths2BR,1BA$1.77
Beaver Cove2 Bedroom 1 Bath2BR,1BA$1.81
Lakeside ApartmentsOne Bedroom1BR,1BA$2.07
Sunrise 111x11BR,1BA$1.95

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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Seattle Apartment Guide: Find Your Rental Near Tech Hubs like Amazon, Google, and Adobe

Cut down on your commute! Discover Seattle's top neighborhoods to rent near major employers like Amazon, Meta, and Fred Hutchinson. Find your ideal work-life balance in the Emerald City.

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Picking the Perfect Seattle Neighborhood for College Life

Learn About the Best Neighborhoods to Rent Near College Campuses in Seattle, WA | Find Seattle Off-Campus Student Housing at ApartmentHomeLiving.com

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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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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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Mountlake Terrace, WA Rentals by Map

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See the most popular apartments and homes in Mountlake Terrace, WA

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Frequently Asked Questions about Mountlake Terrace

What type of rentals are currently available in Mountlake Terrace?

There are currently 422 Apartments for Rent in Mountlake Terrace, WA with pricing that ranges from $790 to $10,938. There are also 78 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mountlake Terrace ranging from $1,200 to $10,750.

What is the current price range for Rental Homes in Mountlake Terrace?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Mountlake Terrace ranges from $1,200 to $10,750 with an average monthly rent of $3,227.

How much are larger Three and Four Bedroom Rentals in Mountlake Terrace?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Mountlake Terrace range from $1,928 to $10,938, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,475 to $4,400. Four Bedroom Single-Family rentals are also available starting from $1,975 and Four Bedroom Apartments start at $790.

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.

Helpful Local Expert Guides

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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.

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Picking the Perfect Seattle Neighborhood for College Life

Written by: Sharon Stallings

I'm Sharon, your ApartmentHomeLiving.com Local Expert for Seattle, Washington. Whether you're new to Seattle or grew up here, the neighborhood where you live makes a huge difference while attending college.

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Seattle Apartment Guide: Find Your Rental Near Tech Hubs like Amazon, Google, and Adobe

Written by: Sharon Stallings

I'm Sharon, your ApartmentHomeLiving.com Local Expert for Seattle, Washington. We're blessed to live in Seattle, affectionately known as the Emerald City.

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The Emerald Citys Secrets: A 30-Year Locals Guide to Renting in Seattle

Written by: Sharon Stallings

I'm Sharon, your ApartmentHomeLiving.com Local Expert for Seattle, Washington. I've lived here for 30+ years and have watched the city grow while holding onto what makes it unique.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.