Cheap Apartments for Rent in Troy, MI from $300 (136 Rentals)

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

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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920 John R Rd
1 to 2 Bedroom Apartments

920 John R Rd

920 John R RdTroy, MI 48083
Senior Living
  • Utilities Included
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Troy Villa
2 to 3 Bedroom Apartments

Troy Villa

2100 Stephenson HwyTroy, MI 48083
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Emerald Apartments
1 Bedroom Apartments

Emerald Apartments

360-370 E 13 Mile RdMadison Heights, MI 48071
  • Utilities Included

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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Check Out Detroit’s Best Affordable Neighborhoods

Learn about Detroit and the best places to live with original content written by our Local Expert Tim Brown

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Troy, MI Local Guide

Cheapest Available Troy Apartments for Rent

 

The cheapest available apartment rental in Troy, MI is a Studio unit found at Amber's Timber Lodges in the Nordwood Estates neighborhood priced from $875. Amber Creek Apartments in the Downtown Troy neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here is today’s list of the most affordable Troy apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Amber's Timber LodgesStudioStudio,1BA$875
Amber Creek ApartmentsStudio (Tahoe/Ventura)Studio,1BA$895
Emerald ApartmentsOne Bedroom1BR,1BA$900
amber's Broadacre ApartmentsStudioStudio,1BA$945
Philamer1 Bed, 1 bath1BR,1BA$975
Woodland Gardens1 BEDROOM 1 BATH1BR,1BA$985
Lexington VillageRevere1BR,1BA$990
Altitude Apartments East ( Ferndale 28 LLC)Altitude Apartments - One Bedroom (Renovated) *...1BR,1BA$995
Bloomfield Orchard1 Bed, 1 bath1BR,1BA$1,000
President Madison ApartmentsPrinceton1BR,1BA$1,008

Best Value Apartments for Rent in Troy, MI

As of July 26, 2025 the best value apartment in the Troy area is the $1.40 price per square foot Three Bedroom Model at Amberwood Townhomes in the in the Route 59 neighborhood starting from $2,295. The second greatest value Troy apartment is the 2 bedroom + den + 2 1/2 bath townhome Model at Amber Oak Townhomes starting at $1,895 with a $1.23 price per square foot in the Downtown Birmingham neighborhood. Here is today’s list of the best values for Troy apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Amberwood TownhomesThree Bedroom3BR,3.5BA$1.40
Amber Oak Townhomes2 bedroom + den + 2 1/2 bath townhome2BR,2.5BA$1.23
Rochester Villas3 Bed3BR,1.5BA$1.20
Bloomfield Square Apartments - Auburn Hills, MI2 Bedroom, 1.5 Bathroom - Newly Renovated2BR,1.5BA$1.39
Charles HamletTwo Bedroom2BR,2BA$1.02
Bloomfield VillasHackenbush2BR,2BA$1.30
Rochester House ApartmentsTwo Bedroom2BR,1BA$1.17
Oakwood Villa Apartments2 Bedroom2BR,1BA$1.30
Chatsford Village Apartments1 BR 1 BATH1BR,1BA$1.42
Philamer1 Bed, 1 bath1BR,1BA$1.32

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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Pet Friendly Lifestyle
Troy, MI

Ranked #5

Among cities in Michigan for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Troy, MI Rentals by Map

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See the most popular apartments and homes in Troy, MI

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Getting Around Troy, MI

Walk Score®

46 / 100

Car-Dependent

Most errands require a car

Bike Score®

46 / 100

Somewhat Bikeable

Minimal bike infrastructure

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 Troy Apartments

What is the Cheapest Studio apartment in Troy?

Currently the most affordable Cheap Studio Apartment in Troy is at Amber's Timber Lodges listed at $875.

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

The lowest price for a Cheap One Bedroom Troy Apartment is $900 at Emerald Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Troy is starting from $1,020 at Charles Hamlet.

What is the most affordable Troy Three Bedroom Apartment?

The best deal on a cheap Troy Three Bedroom Apartment rental is at Rochester Villas and starts from $1,445.

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.

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A Detroit Local Expert’s Guide to the 10 Best Budget-Friendly Neighborhoods to Rent

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Detroit, Michigan. My family and I have lived in metro Detroit since the late 1990s.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.