Cheap Apartments for Rent in Panama, NY from $400 (43 Rentals)

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

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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Arneman Place
2 to 4 Bedroom Apartments

Arneman Place

4690 Iroquois AveErie, PA 16511
  • Utilities Included

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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Plymouth Apartments
1 to 3 Bedroom Apartments

Plymouth Apartments

604-608 Chestnut StErie, PA 16502
  • Utilities Included

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.

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Lighthouse Apartments
1 to 2 Bedroom Apartments

Lighthouse Apartments

1206 E Lake RdErie, PA 16507
  • 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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Lincoln Woods
1 to 2 Bedroom Apartments

Lincoln Woods

914 Lincoln AveWarren, PA 16365
  • Utilities Included
Showing Results 1-43, 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. Drake Village Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $680. Here is today’s list of the most affordable Panama apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Park Place Student Housing3x13BR,1BA$549
Drake Village Apartments2 Bedroom2BR,1BA$680
Park Row Apartments1 Bedroom, 1 Bathroom1BR,1BA$750
Wellman BuildingStudio, 1 bathStudio,1BA$750
The Bowie Apartments0BR/1.0BAStudio,1BA$775
Ellicott Oaks Apartments2 Beds, 1 bath2BR,1BA$850
The Meadows1 bedroom1BR,1BA$850
Colonial Apartments1 Bedroom 2nd floor1BR,1BA$850
716 Sassafras Apartments1 Bed, 1 bath1BR,1BA$890
509 Dunn BlvdSpacious 2 Bed / 1.5 bath2BR,1BA$900

Best Value Apartments for Rent in Panama, NY and Nearby

As of June 18, 2026 the best value apartment in the Panama area is the $0.78 price per square foot The Nittany Model at Hudson Lofts in the starting from $1,070. The second greatest value Panama apartment is the Three Bedroom Townhome - B Model at Granite Ridge Apartments starting at $1,400 with a $1.08 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$0.78
Granite Ridge ApartmentsThree Bedroom Townhome - B3BR,1.5BA$1.08
Arneman Place2 Bedroom2BR,1BA$0.91
Ellicott Oaks Apartments2 Beds, 1 bath2BR,1BA$0.91
509 Dunn BlvdSpacious 2 Bed / 1.5 bath2BR,1BA$1.00
Lovell Place1B1B1BR,1BA$1.23
Wellman BuildingStudio, 1 bathStudio ,1BA$1.00
Colonial Apartments1 Bedroom 2nd floor1BR,1BA$1.13
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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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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Quick 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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Panama, NY Rentals by Map

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See the most popular apartments and homes in Panama, NY

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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 $750 at Park Row 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 $680 at Drake Village 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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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.

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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.

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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.

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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.