Cheap Apartments for Rent in the Lake Terrace Neighborhood of Orlando, FL from $400 (26 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lake Terrace area of Orlando.

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Whitney Grove Apartments
Studio to 2 Bedroom Apartments

Whitney Grove Apartments

1638 S Crystal Lake DrOrlando, FL 32806
  • Utilities Included
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Kinneret Apartments
Studio to 1 Bedroom Apartments

Kinneret Apartments

515 Delaney AveOrlando, FL 32801
Senior Living
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Cloverdale Apartments
1 to 2 Bedroom Apartments

Cloverdale Apartments

1911 Ranwill CtOrlando, FL 32806
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Whitney Groves Apartments
Studio to 2 Bedroom Apartments

Whitney Groves Apartments

1648 S Crystal Lake DrOrlando, FL 32806
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Celano
1 Bedroom Apartments

Celano

2401 S Bumby AveOrlando, FL 32806
Corporate Housing
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55 WEST
Studio to 3 Bedroom Apartments

55 WEST

55 W Church StOrlando, FL 32801
Corporate Housing
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Primrose Orlando
1 Bedroom Apartments

Primrose Orlando

2716 E Washington StOrlando, FL 32803
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Park Plaza Apartments
1 to 2 Bedroom Apartments

Park Plaza Apartments

101 S Bumby AveOrlando, FL 32803
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Showing Results 1-26, Page 1 of 1

Lake Terrace, Orlando, FL Local Guide

Cheapest Available Lake Terrace Apartments for Rent

 

The cheapest available apartment rental in the Lake Terrace area of Orlando, FL is a 1 Bed unit found at Hollow Brook priced from $848. Magnolia Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,054. Here are the most affordable Lake Terrace apartments for rent in Orlando, FL:

Apartment ListingModel NameBed/BathPriced From
Hollow Brook1BR50%1BR,1BA$848
Magnolia ApartmentsStudioStudio,1BA$1,054
Goldelm at SalernoMaple1BR,1BA$1,110
Enclave at Lake Underhill Apartments1 Bed 1 Bath 510 SF1BR,1BA$1,115
The Cornerstone ApartmentsElm1BR,1BA$1,154
Barber Park ApartmentsFairview a1wl1BR,1BA$1,204
Sands Orlando1 Bedroom 1A1BR,1BA$1,206
Woodlake Villas1x11BR,1BA$1,208
Bridgewater by Trion Living1 Bedroom1BR,1BA$1,211
Dover GardensDG-SM1BR-1BA1BR,1BA$1,275

Best Value Apartments for Rent in Lake Terrace, FL

As of November 15, 2025 the best value apartment in the Lake Terrace area is the $1.69 price per square foot Floorplan 3 Model at Azalea Gardens in the in the North Orange neighborhood starting from $2,025. The second greatest value Lake Terrace apartment is the 2BR80% Model at Hollow Brook starting at $1,715 with a $1.56 price per square foot in the East Central Park neighborhood. Here is today’s list of the best values for Lake Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Azalea GardensFloorplan 32BR,2BA$1.69
Hollow Brook2BR80%2BR,1.5BA$1.56
Conway ForestAmbersweet2BR,2BA$1.45
Lake Lucerne Towers2 Bedroom2BR,2BA$1.60
Hourglass Flats | Modern 1 Bedroom Apartme1/1 Updated1BR,1BA$1.90
Hampton Terrace Apartments1BR/1BA1BR,1BA$1.87
Goldelm at SalernoMaple1BR,1BA$1.49
Bridgewater by Trion Living1 Bedroom1BR,1BA$1.73
Enclave at Lake Underhill Apartments1 Bed 1 Bath 706 SF1BR,1BA$1.86
Aspire OrlandoOsceolaStudio ,1BA$1.97

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Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in metropolitan areas across the United States, including Orlando. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Lake Terrace Neighborhood in Orlando, FL

Walk Score®

70 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

49 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

7 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lake Terrace Apartments

What is a cheap apartment in Lake Terrace?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lake Terrace is under $1,275.

What is the price of a cheap apartment in Lake Terrace?

The cheapest apartment in Lake Terrace is Hollow Brook which is listed at $848, while the average apartment in Lake Terrace costs $6,514.

What types of apartments are the cheapest in Lake Terrace?

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 8 regular apartments in Lake Terrace 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 Lake Terrace?

Cheap apartments in Lake Terrace have an average cost of $149 which is $6,365 cheaper than the average rent for all rentals in Lake Terrace.

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 An Orlando Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

An Orlando Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Darla Ferrara

For many, Orlando is the place where you vacation, not live. However, this city, located in the central region of Florida, offers a vibrant tech community, plenty of outdoor activities, and some of the best schools in the country.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.