Cheap Apartments for Rent near Vanderbilt, MI from $400 (53 Rentals)

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

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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property at 2276 S M-37

$1,200

1 Bedroom, 1 Bath Townhome for Rent

Available Now

2276 S M-37, Unit B

2276 S M-37
Traverse CityMI49685

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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property at 10964 N Mackinaw Hwy

$1,600

Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600

3 Bedroom, 2 Bath Home for Rent

Available Now

10964 N Mackinaw Hwy

Carp LakeMI49718
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Victories Square
Studio to 2 Bedroom Apartments

Victories Square

1899 Migizi WayPetoskey, MI 49770
  • 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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Annika Place
1 to 2 Bedroom Apartments

Annika Place

947 S Garfield AveTraverse City, MI 49686
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Ruth Park
1 to 3 Bedroom Apartments

Ruth Park

520 Wellington StTraverse City, MI 49686
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Stargate Motel
2 to 3 Bedroom Apartments

Stargate Motel

4646 S Straits HwyIndian River, MI 49749
  • Utilities Included
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Huron Apartments
1 to 2 Bedroom Apartments

Huron Apartments

210 W EtheringtonMackinaw City, MI 49701
Corporate Housing
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Mackinaw Apartments
1 to 2 Bedroom Apartments

Mackinaw Apartments

1327 Mackinaw AveCheboygan, MI 49721
Corporate Housing
  • Utilities Included
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Lighthouse Village
2 to 3 Bedroom Apartments

Lighthouse Village

400 Duncan AveCheboygan, MI 49721
  • Utilities Included
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Inland Lakes Motel
1 to 2 Bedroom Apartments

Inland Lakes Motel

1225 S Grandview Beach RdIndian River, MI 49749
Corporate Housing
  • Utilities Included
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Cheboygan Shores
1 Bedroom Apartments

Cheboygan Shores

328 Duncan AveCheboygan, MI 49721
Senior Living
  • 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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Garfield Oaks
1 to 2 Bedroom Apartments

Garfield Oaks

3011 Garfield Rd NTraverse City, MI 49686
  • Utilities Included
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Liv Arbors
1 to 5 Bedroom Apartments

Liv Arbors

2955 Leggett DrTraverse City, MI 49685
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Totem Lodges
1 to 3 Bedroom Apartments

Totem Lodges

4846 S Straits HwyIndian River, MI 49749
  • Utilities Included
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Manitou Woods
1 to 3 Bedroom Apartments

Manitou Woods

1021 Manitou DrTraverse City, MI 49686
  • Utilities Included

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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Showing Results 1-50, Page 1 of 2

Vanderbilt, MI Local Guide

Cheapest Available Vanderbilt Apartments for Rent and Nearby

 

The cheapest available apartment rental in Vanderbilt, MI is a 1 Bed unit found at Riverview Terrace in the Downtown Traverse City neighborhood priced from $50. Presque Isle Estates has the second lowest priced unit, which is a 2 Beds apartment currently listed from $575. Here is today’s list of the most affordable Vanderbilt apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Riverview Terrace1 Bedroom R1BR,1BA$50
Presque Isle Estates14122BR,1BA$575
Oak Terrace1 BEDROOM1BR,1BA$796
Mackinaw ApartmentsTwo Bedroom2BR,1BA$845
Lighthouse Gardens Apartments1Br1BR,1BA$1,146
Sawmill Lofts1 Bedroom - 1 Bath1BR,1BA$1,150
Aspen VillageNew Double-Wide3BR,1BA$1,200
Little Traverse Village1 Bedroom 1 Bathroom1BR,1BA$1,350
Townhouse LaneTownhouse Ln2BR,1BA$1,395
Annika Place1 Bedroom 1 Bath1BR,1BA$1,414

Best Value Apartments for Rent in Vanderbilt, MI and Nearby

As of August 13, 2026 the best value apartment in the Vanderbilt area is the $1.63 price per square foot Ottawa Model at Liv East Bay in the starting from $3,395. The second greatest value Vanderbilt apartment is the Townhouse Ln Model at Townhouse Lane starting at $1,395 with a $1.29 price per square foot . Here is today’s list of the best values for Vanderbilt apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Liv East BayOttawa5BR,2.5BA$1.63
Townhouse LaneTownhouse Ln2BR,1.5BA$1.29
Village Glen ApartmentsTwo Bed Two Bath2BR,2BA$1.46
Alger Apartments2 bed - 2 bath2BR,2BA$1.56
The Block at Petoskey2BB Workforce Housing Unit*2BR,2BA$1.91
Mackinaw ApartmentsTwo Bedroom2BR,1BA$1.11
Lighthouse Gardens Apartments2Br2BR,1BA$1.83
Presque Isle Estates15202BR,1BA$1.04
Oak Terrace1 BEDROOM1BR,1BA$1.38
Riverview Terrace1 Bedroom R1BR,1BA$0.10

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

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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 Vanderbilt, MI Rentals by Map

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See the most popular apartments and homes in Vanderbilt, MI

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Frequently Asked Questions about Cheap Vanderbilt Apartments

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

The lowest price for a Cheap One Bedroom Vanderbilt Apartment is $50 at Riverview Terrace.

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

Today's best deal for a Cheap Two Bedroom Apartment in Vanderbilt is starting from $575 at Presque Isle Estates.

What is the most affordable Vanderbilt Three Bedroom Apartment?

The best deal on a cheap Vanderbilt Three Bedroom Apartment rental is at Presque Isle Estates and starts from $750.

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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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.