Cheap Homes for Rent in Lake Terrace Neighborhood of Orlando, FL from $800 (57 Rentals)

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

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

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property at 607 S Summerlin Ave

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Townhome for Rent

Available Now

607 S Summerlin Ave, Unit 2, Unit 2

607 S Summerlin Ave
OrlandoFL32801

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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property at 605 S Summerlin Ave

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Townhome for Rent

Available Now

605 S Summerlin Ave

OrlandoFL32801
property at 706 E Pine St

$1,375

Total Monthly Price

Total Monthly Price

Base Rent
$1,375
Total Monthly Price
$1,375

Studio, 1 Bath Condo for Rent

Available May 2

706 E Pine St

OrlandoFL32801

The Soul of the City Beautiful: What Life in Orlando Is Really Like

Orlando is much more than theme parks. Uncover the city's rich history, diverse neighborhoods like Winter Park and Downtown, and its bustling cultural and culinary life.

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property at 204 E South St

$1,575 - $2,400

1 To 2 Bedroom Rentals

Available Now

204 E South St

OrlandoFL32801

Top Neighborhoods Near Orlando Major Employers

Learn about the best places to live near major employers in Orlando with original content written by our Local Expert Darla Ferrara

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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 The Cornerstone Apartments priced from $1,026. Magnolia Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,109. Here are the most affordable Lake Terrace apartments for rent in Orlando, FL:

Apartment ListingModel NameBed/BathPriced From
The Cornerstone ApartmentsElm1BR,1BA$1,026
Magnolia ApartmentsStudioStudio,1BA$1,109
Sands Orlando1 Bedroom 1A1BR,1BA$1,136
Bridgewater by Trion Living1 Bedroom1BR,1BA$1,183
Hollow Brook2BR60%2BR,1BA$1,240
Primrose OrlandoUpgraded Unit1BR,1BA$1,250
Woodlake Villas1x11BR,1BA$1,253
Barber Park ApartmentsLaketree s1wlStudio,1BA$1,268
Dover GardensBeautiful one-Bedroom Unit! NO Admin Fee!1BR,1BA$1,275

Best Value Apartments for Rent in Lake Terrace, FL

As of April 13, 2026 the best value apartment in the Lake Terrace area is the $1.71 price per square foot 509 E Church St Model at 509 E Church St, Unit #1 in the in the Downtown Orlando neighborhood starting from $2,900. The second greatest value Lake Terrace apartment is the 3BR70% Model at Hollow Brook starting at $1,684 with a $1.36 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.
509 E Church St, Unit #1509 E Church St2BR,1BA$1.71
Hollow Brook3BR70%3BR,2BA$1.36
Lofts at SoDoKaley2BR,2BA$1.80
Azalea GardensFloorplan 22BR,2BA$1.46
1207 Groveland Ave, Unit Near Downtown Orlando1207 Groveland Ave2BR,1.5BA$1.23
Conway ForestNavel1BR,1BA$1.85
Hourglass Flats1/1 Updated1BR,1BA$2.02
ARIUM Mariner's VillageAddison1BR,1BA$2.05
Woodlake Villas1x11BR,1BA$1.67
Bridgewater by Trion Living1 Bedroom1BR,1BA$1.63

Frequently Asked Questions about Lake Terrace

What type of rentals are currently available in Lake Terrace?

There are currently 182 Apartments for Rent in Lake Terrace, FL with pricing that ranges from $452 to $9,000. There are also 167 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Terrace ranging from $800 to $15,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Terrace ranges from $800 to $15,000 with an average monthly rent of $4,286.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Lake Terrace range from $588 to $9,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,999 to $7,995. Four Bedroom Single-Family rentals are also available starting from $1,995 and Four Bedroom Apartments start at $4,138.

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

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.

decorative image for Your Guide to the Perfect Orlando Neighborhood for Student Renters article

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.

decorative image for Unlock Your Orlando Commute: An Expert Guide to Ideal Neighborhoods Near Major Local Employers article

Unlock Your Orlando Commute: An Expert Guide to Ideal Neighborhoods Near Major Local Employers

Written by: Darla Ferrara

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.

decorative image for The Soul of the City Beautiful: What Life in Orlando Is Really Like article

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

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.