
Cheap Apartments for Rent in the Lake Terrace Neighborhood of Orlando, FL from $500 (68 Rentals)
Search the lowest-cost Apartments available for rent right now in the Lake Terrace area of Orlando.


1406 Conway Rd

1815 Larkin Ave

1406 Conway Rd

2014 Newman St, Unit 1

1815 Larkin Ave

1406 Conway Rd

1815 Larkin Ave

4510 Cranston Pl

4510 Cranston Pl
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.

Primrose Orlando

Magnolia Apartments

Goldelm at Salerno

Total Monthly Price
The Cornerstone Apartments

Total Monthly Price
Sands Orlando

5101 Curry Ford Rd

Bridgewater by Trion Living

Woodlake Villas

2300 E Crystal Lake Ave
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.

Dover Gardens

Barber Park Apartments

1525 Catherine St

Skyhouse Orlando

Total Monthly Price
Mondrian Lake Eola

Total Monthly Price
Skye at Conway

Total Monthly Price
Lofts at SoDo

2547 S Mills Ave

Lake Lucerne Towers

Lakeview & Springhaven Apartments
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.

Whitney Grove Apartments

Anderson Oaks

Lake Davis

Kinneret Apartments

2330 S Ferncreek Ave

Delaney Court Apartments

Delaney

Cloverdale Apartments

407 Shine Ave

Conway Forest
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.

Whitney Groves Apartments

St. Regis Apartments

Henley Park Apartments

Watauga Woods Apartments

1208 Francis Ave

30 N Primrose Dr

Conway Club

4073 E Michigan St

2505 E Central Blvd

5317 Curry Ford Rd
Where Orlando Locals Actually Live: A Renter's Guide to the Surrounding Cities
Why fight Orlando's tourist traffic when you don't have to? Explore the best cities surrounding Orlando for renters, with expert tips on commuting, lifestyle, hidden costs, and where to find the most value.
Lake Terrace, Orlando, FL Local Guide

How much does it cost to rent an apartment in Lake Terrace?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Terrace Studio Apartments | $1,616 | $1,109 | $2,131 |
| Lake Terrace 1 Bedroom Apartments | $1,690 | $528 | $2,751 |
| Lake Terrace 2 Bedroom Apartments | $2,022 | $641 | $3,318 |
| Lake Terrace 3 Bedroom Apartments | $2,957 | $748 | $9,000 |
| Lake Terrace 4 Bedroom Apartments | $4,730 | $3,600 | $7,785 |
Browse Apartments in this Neighborhood
There are currently 68 rentals with your search options within a 2 mile radius of the Lake Terrace Neighborhood of Orlando, FL.
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Lake Terrace, Orlando, FL Local Guide
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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 Celano priced from $999. Primrose Orlando has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,000. Here are the most affordable Lake Terrace apartments for rent in Orlando, FL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Celano | Eola | 1BR,1BA | $999 |
| Primrose Orlando | Upgraded Unit | 1BR,1BA | $1,000 |
| Conway Forest | Tangelo | 1BR,1BA | $1,049 |
| Magnolia Apartments | S1 | Studio,1BA | $1,109 |
| St. Regis Apartments | 0 Bedroom,1 Bathroom | Studio,1BA | $1,110 |
| Sands Orlando | 1 Bedroom 1A | 1BR,1BA | $1,112 |
| Bridgewater by Trion Living | 1 Bedroom | 1BR,1BA | $1,154 |
| The Cornerstone Apartments | Elm | 1BR,1BA | $1,203 |
| SoDo Flats | 1/1 AU | 1BR,1BA | $1,299 |
| The Frederick | The Grant | 1BR,1BA | $1,299 |
Best Value Apartments for Rent in Lake Terrace, FL
As of July 12, 2026 the best value apartment in the Lake Terrace area is the $1.53 price per square foot Biltmore Model at ARIUM Mariner's Village in the in the East Central Park neighborhood starting from $2,052. The second greatest value Lake Terrace apartment is the Floorplan 2 Model at Azalea Gardens starting at $1,750 with a $1.46 price per square foot in the North Orange neighborhood. Here is today’s list of the best values for Lake Terrace apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| ARIUM Mariner's Village | Biltmore | 2BR,2BA | $1.53 |
| Azalea Gardens | Floorplan 2 | 2BR,2BA | $1.46 |
| Woodlake Villas | 2x2 | 2BR,2BA | $1.43 |
| Lake Lucerne Towers | 2BR/2.0BA | 2BR,2BA | $1.50 |
| Hollow Brook | 1BR70% | 1BR,1BA | $1.87 |
| Conway Forest | Tangelo | 1BR,1BA | $1.44 |
| Bridgewater by Trion Living | 1 Bedroom | 1BR,1BA | $1.59 |
| The Frederick | The Grant | 1BR,1BA | $1.97 |
| The Cornerstone Apartments | Elm | 1BR,1BA | $1.96 |
| Primrose Orlando | Upgraded Unit | 1BR,1BA | $1.71 |
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 ArticleYour Guide to the Perfect Orlando Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Orlando, FL | Find Orlando Off-Campus Student Housing at ApartmentHomeLiving.com
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.
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!
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 $1,299.
What is the price of a cheap apartment in Lake Terrace?
The cheapest apartment in Lake Terrace is Celano which is listed at $999, while the average apartment in Lake Terrace costs $6,161.
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 $172 which is $5,989 cheaper than the average rent for all rentals in Lake Terrace.
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

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.

Your Guide to the Perfect Orlando Neighborhood for Student Renters
Written by: Darla Ferrara
There is never a dull moment in Orlando, Florida. Along with top-tier universities, technical schools, and local colleges, there are world-class entertainment venues, the ocean within driving distance, and lots of sunshine.

Unlock Your Orlando Commute: An Expert Guide to Ideal Neighborhoods Near Major Local Employers
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When I first moved to Orlando, Florida, in the 1990s, one of the things that drew me here was the remarkably low unemployment rates. There was a job for everyone. Two decades later, that fundamental appeal remains.

The Soul of the City Beautiful: What Life in Orlando Is Really Like
Written by: Darla Ferrara
When people think of Orlando, Florida, they dream of theme parks and sunny weather, and rightfully so. It’s that energy that keeps this city a mainstay in the global tourist industry.
Articles, How-To's, and Tips

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.

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.

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.
