Cheap Apartments for Rent in Troy, MI from $300 (137 Rentals)

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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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920 On the Park
1 to 2 Bedroom Apartments

920 On the Park

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

Troy Villa

2100 Stephenson HwyTroy, MI 48083
  • Utilities Included

The Detroit Insiders Renting Guide: A Local's Look Under the Hood

Moving to Detroit? Get the local breakdown on affordable rental options, easy commutes, and how to navigate the People Mover and Q-Line downtown.

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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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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Troy, MI Local Guide

Cheapest Available Troy Apartments for Rent

 

The cheapest available apartment rental in Troy, MI is a 1 Bed unit found at President Madison Apartments in the Mystic Forest at the Park neighborhood priced from $827. Amber's Timber Lodges in the Nordwood Estates neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here is today’s list of the most affordable Troy apartments for rent:

Apartment ListingModel NameBed/BathPriced From
President Madison ApartmentsPrinceton1BR,1BA$827
Amber's Timber LodgesStudioStudio,1BA$875
Amber Creek ApartmentsStudio (Tahoe/Ventura)Studio,1BA$895
Bloomfield OrchardOne Bedroom1BR,1BA$900
Devon Park Apartments1 Bedroom 750 Sq Ft1BR,1BA$900
Lexington VillageRevere1BR,1BA$925
amber's Broadacre ApartmentsStudioStudio,1BA$945
Altitude Apartments EastAltitude Apartments - One Bedroom (Renovated) *...1BR,1BA$950
Amber ApartmentsMediterranean 1- Standard1BR,1BA$959
Emerald ApartmentsOne Bedroom1BR,1BA$965

Best Value Apartments for Rent in Troy, MI

As of January 25, 2026 the best value apartment in the Troy area is the $1.23 price per square foot 2 bedroom + den + 2 1/2 bath townhome Model at Amber Oak Townhomes in the in the Downtown Birmingham neighborhood starting from $1,895. The second greatest value Troy apartment is the Arlington II Model at Ashford Apartments starting at $1,950 with a $1.34 price per square foot in the McGregor 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.
Amber Oak Townhomes2 bedroom + den + 2 1/2 bath townhome2BR,2.5BA$1.23
Ashford ApartmentsArlington II2BR,2BA$1.34
Courtview Garden Apartments1-Bedroom1BR,1.5BA$1.14
Spring Hill1 Bed | 1 Bath1BR,1BA$1.01
Bloomfield VillasHackenbush2BR,2BA$1.32
Parkview ApartmentsOne Bedroom1BR,1BA$1.17
Oakwood Villa Apartments2 Bedroom2BR,1BA$1.35
President Madison ApartmentsElbridge2BR,1BA$1.29
The Gables of TroyThe Quinn (1BR / 1BA)1BR,1BA$1.27
Devon Park Apartments1 Bedroom 750 Sq Ft1BR,1BA$1.20

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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The Best Detroit Area Neighborhoods for Off-Campus Housing Renters

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Detroit area for Off-Campus Student Housing. Find your perfect Detroit Student apartment, condo, or rental home today at ApartmentHomeliving.com

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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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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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Troy, MI Apartments Map
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Troy, MI Rental Homes Map

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 $827 at President Madison 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 $1,010 at Devon Park Apartments.

What is the most affordable Troy Three Bedroom Apartment?

The best deal on a cheap Troy Three Bedroom Apartment rental is at Oakwood Villa Apartments and starts from $1,320.

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

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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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The Best Detroit Area Neighborhoods for Off-Campus Housing Renters

Written by: Tim Brown

Detroit is an exciting and vibrant city with many educational and employment opportunities, and many neighborhoods to choose from while attending school.

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The Detroit Insiders Renting Guide: A Locals Look Under the Hood of Motown

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 and have witnessed the city and its surrounding metro area undergo a renaissance.

Articles, How-To's, and Tips

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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.

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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.