Cheap Apartments for Rent near Panama, NY from $549 (42 Rentals)

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Search the lowest-cost Apartments available for rent right now in Panama.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Arneman Place
2 to 4 Bedroom Apartments

Arneman Place

4690 Iroquois AveErie, PA 16511
  • Utilities Included
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Plymouth Apartments
1 to 3 Bedroom Apartments

Plymouth Apartments

604-608 Chestnut StErie, PA 16502
  • Utilities Included
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3535 State St
1 Bedroom Apartments

3535 State St

3535 State StErie, PA 16508
  • Utilities Included

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.

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Lighthouse Apartments
1 to 2 Bedroom Apartments

Lighthouse Apartments

1206 E Lake RdErie, PA 16507
  • Utilities Included

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 51 Mindi Ct
$1,000
3 Bedroom, 2 Bath Home for Rent
Available Now
Eco-Friendly

51 Mindi Ct

EriePA16510
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Showing Results 1-42, Page 1 of 1

Panama, NY Local Guide

Cheapest Available Panama Apartments for Rent and Nearby

 

The cheapest available apartment rental in Panama, NY is a 3 Beds unit found at Park Place Student Housing priced from $549. University Gate has the second lowest priced unit, which is a 4 Beds apartment currently listed from $665. Here is today’s list of the most affordable Panama apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Park Place Student Housing3x13BR, 1BA$549
University Gate4 Bed Upgraded4BR, 2BA$665
Willow Commons Apartments1 Bedroom1BR, 1BA$737
The Bowie Apartments0BR/1.0BAStudio, 1BA$750
Park Row Apartments1 Bedroom, 1 Bathroom1BR, 1BA$750
Wellman BuildingStudio, 1 bathStudio, 1BA$750
Fairmount Hills Apartments2 Bedroom, 1 Bathroom2BR, 1BA$825
Ellicott Oaks Apartments2 Beds, 1 bath2BR, 1BA$850
The Meadows1 bedroom1BR, 1BA$850
716 Sassafras ApartmentsOne Bedroom1BR, 1BA$890

Best Value Apartments for Rent in Panama, NY and Nearby

As of September 17, 2026 the best value apartment in the Panama area is the $0.71 price per square foot The Nittany Model at Hudson Lofts starting from $981. The second greatest value Panama apartment is the 2 Bedroom Model at Brookwood Village in the South East Hills neighborhood starting at $1,360 with a $1.09 price per square foot. Here is today’s list of the best values for Panama apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hudson LoftsThe Nittany4BR, 4BA$0.71
Brookwood Village2 Bedroom2BR, 1.5BA$1.09
University Gate4 Bed Upgraded4BR, 2BA$0.58
Willow Commons Apartments2 Bedroom2BR, 1BA$0.98
Arneman Place2 Bedroom2BR, 1BA$0.98
Ellicott Oaks Apartments2 Beds, 1 bath2BR, 1BA$0.91
Fairmount Hills Apartments2 Bedroom, 1 Bathroom2BR, 1BA$1.03
Wellman BuildingStudio, 1 bathStudio, 1BA$1.00
The Meadows1 bedroom1BR, 1BA$1.31
Park Row Apartments1 Bedroom, 1 Bathroom1BR, 1BA$1.15

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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 Panama, NY Rentals by Map

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Frequently Asked Questions about Cheap Panama Apartments

What is the Cheapest Studio apartment in Panama?

Currently the most affordable Cheap Studio Apartment in Panama is at Wellman Building listed at $750.

How much is rent for a Cheap One Bedroom Panama Apartment?

The lowest price for a Cheap One Bedroom Panama Apartment is $737 at Willow Commons Apartments.

What is the lowest price for a Cheap Two Bedroom Panama Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Panama is starting from $825 at Fairmount Hills Apartments.

What is the most affordable Panama Three Bedroom Apartment?

The best deal on a cheap Panama Three Bedroom Apartment rental is at Park Place Student Housing and starts from $549.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.