
Cheap Apartments for Rent in Old Lyme, CT from $1,100 (53 Rentals)
Search the lowest-cost Apartments available for rent right now in Old Lyme.


48 Swan Ave

30 Old Shore Rd

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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Villages at Shore Landing
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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120 Broad St

Courtview Square Apartments

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Rocky Neck Village

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Deerfield Village

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Faire Harbour Landings

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Gull Harbor Apartments

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Nutmeg Woods

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Brookside Commons

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ReNew Washington Park

Central @ Waterford Woods
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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Vessel - Bank Street

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The Docks

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Groton Towers

Eagle Pointe

61 Bank St

Harbor View

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Colchester Estates

Bay Point Apartments

70 Pond Meadow Rd

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The Sound at Gateway Commons
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

Trident Park Townhomes

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The Beam

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60 Mansfield Road Phase II

Triton Square Apartments

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The Edgewater

Bridge Road Commons

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Pleasant Valley Apartments

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12 Sharaf St

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ReNew Groton
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.

Camden Square

The Grand

Oxoboxo Lofts

8 Bank St

173-175 Norwich-New London Turnpike

1500 Boston Post Rd

Garfield Avenue Apartments

26 Sunset Ter

Riverbank Luxury Apartments

165 Main St
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
Old Lyme, CT Local Guide

How much does it cost to rent an apartment in Old Lyme?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Old Lyme Studio Apartments | $1,696 | $1,350 | $2,599 |
| Cheap Old Lyme 1 Bedroom Apartments | $1,973 | $1,100 | $3,564 |
| Cheap Old Lyme 2 Bedroom Apartments | $2,308 | $1,200 | $4,366 |
| Cheap Old Lyme 3 Bedroom Apartments | $2,807 | $1,400 | $3,815 |
Browse Top Apartments in Old Lyme
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Old Lyme, CT Local Guide
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Cheapest Neighborhoods for Apartments in Old Lyme, CT
Pricing Updated: 06/13/2026Current apartment rentals in the Old Lyme, CT area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Old Lyme Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| South Lyme | $2,992 | $1,491 | 10 |
Cheapest Available Old Lyme Apartments for Rent
 The cheapest available apartment rental in Old Lyme, CT is a 2 Beds unit found at Crocker House priced from $1,100. Oxoboxo Lofts in the Northeast New London Norwich neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,136. Here is today’s list of the most affordable Old Lyme apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Crocker House | Studio | 2BR,2BA | $1,100 |
| Oxoboxo Lofts | 1 Bedroom | 1BR,1BA | $1,136 |
| Pride Point and Progress Point | Two Bedroom | 2BR,1BA | $1,200 |
| 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 | $1,396 |
| 120 Broad St | Studio | Studio,1BA | $1,400 |
| Courtview Square Apartments | A1 | 1BR,1BA | $1,475 |
| Rocky Neck Village | 3 bed - 50% | 3BR,2BA | $1,491 |
| Gull Harbor Apartments | 1 BEDROOM | 1BR,1BA | $1,570 |
Best Value Apartments for Rent in Old Lyme, CT
As of June 13, 2026 the best value apartment in the Old Lyme area is the $1.88 price per square foot 3 bedroom - MKT Model at Rocky Neck Village in the in the South Lyme neighborhood starting from $2,650. The second greatest value Old Lyme apartment is the Sailfish 2 Model at The Edgewater starting at $2,730 with a $2.07 price per square foot in the South Lyme neighborhood. Here is today’s list of the best values for Old Lyme apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Rocky Neck Village | 3 bedroom - MKT | 3BR,2BA | $1.88 |
| The Edgewater | Sailfish 2 | 2BR,2BA | $2.07 |
| The Cove at Gateway Commons | Atlantic Townhouse | 1BR,1BA | $2.20 |
| 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 |
| Faire Harbour Landings | Two Bedroom Apartment | 2BR,1BA | $2.11 |
| Oxoboxo Lofts | 1 Bedroom | 1BR,1BA | $1.97 |
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.
Best Local Schools in Old Lyme, CT
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Old Lyme, CT Rentals by Map
See the most popular apartments and homes in Old Lyme, CT
Frequently Asked Questions about Cheap Old Lyme Apartments
What is a cheap apartment in Old Lyme?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Lyme is under $1,570.
What is the price of a cheap apartment in Old Lyme?
The cheapest apartment in Old Lyme is Crocker House which is listed at $1,100, while the average apartment in Old Lyme costs $2,992.
What types of apartments are the cheapest in Old Lyme?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 3 regular apartments in Old Lyme that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Old Lyme?
Cheap apartments in Old Lyme have an average cost of $741 which is $2,251 cheaper than the average rent for all rentals in Old Lyme.
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

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.

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.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.