
Cheap Apartments for Rent in Wakefield, MA from $1,000 (90 Rentals)
Search the lowest-cost Apartments available for rent right now in Wakefield.


41 Richardson Ave

580 Salem St

27-37 Water St

Grayson Lofts

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Colonial Point Apartments

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Melrose Terrace

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34 Armory St, Unit BUNGALOW

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Aster at the Summit

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63 Cedar St, Unit Wakefield
Top Short-Term Rental Neighborhoods in Boston: Tips from a Local Expert
Get a local expert's guide to Boston's top 5 short-term rental neighborhoods. Essential tips on Fenway, Beacon Hill, Seaport, and Allston/Brighton.

Total Monthly Price
Everly

Nexxus Apartments

Gardencrest Apartments

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The Basin

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21 Wakefield Ave, Unit Luxury Loft

7 North St

The Elms

39-41 Richardson Ave

Wakefield one, two, and three bedrooms with heating included

598 North
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.

600 NORTH

301 North Ave

259 Water St

276 Albion St

The Residence at 581 Salem St

22 W Wyoming Ave, Unit 22

22 W Wyoming Ave, Unit 26

182 Central St, Unit 1

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452 Main St, Unit 4

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223 Essex St
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.

Leisure Lane Apartments

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375 Main St, Unit 31

43 Pomeworth St, Unit 34

Mill Street Gardens

189 W Wyoming Ave, Unit 24

12 Gould St

189 W Wyoming Ave, Unit 25

191 W Wyoming Ave, Unit 15

340 Main St

184 Chestnut St
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.

Mill Street Heights

295 Main St

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40 Hurd St

53 Pearl St

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Towne Estates

836 Main St

30 Pomeworth Street

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Avalon Saugus

Corey10

30 Haven
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
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Wakefield, MA Local Guide

How much does it cost to rent an apartment in Wakefield?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Cheap Wakefield Studio Apartments | $2,659 | $1,780 | $6,800 |
| Cheap Wakefield 1 Bedroom Apartments | $2,944 | $1,800 | $6,786 |
| Cheap Wakefield 2 Bedroom Apartments | $3,684 | $2,150 | $10,000+ |
| Cheap Wakefield 3 Bedroom Apartments | $4,482 | $2,050 | $5,453 |
| Cheap Wakefield 4 Bedroom Apartments | $3,850 | $3,600 | $4,000 |
Browse Top Apartments in Wakefield
See all Apartments in WakefieldExplore Wakefield
Wakefield, MA Local Guide
- Wakefield Neighborhoods
- Nearby Cities
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Cheapest Available Wakefield Apartments for Rent
 The cheapest available apartment rental in Wakefield, MA is a 1 Bed unit found at Wakefield one, two, and three bedrooms with heating included in the Greenwood neighborhood priced from $2,000. 27-37 Water St in the Greenwood neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,100. Here is today’s list of the most affordable Wakefield apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Wakefield one, two, and three bedrooms with heating included | 1BR/1.0BA | 1BR,1BA | $2,000 |
| 27-37 Water St | 1 Bedroom | 1BR,1BA | $2,100 |
| 119 West Wyoming | 1BR/1.0BA | 1BR,1BA | $2,150 |
| Towne Estates | One Bedroom One Bathroom | 1BR,1BA | $2,170 |
| Colonial Point Apartments | 1 Bedroom | 1BR,1BA | $2,200 |
| Mill Street Gardens | 2 Bedroom | 2BR,1BA | $2,250 |
| Leisure Lane Apartments | 2 bedroom | 2BR,1BA | $2,250 |
| Aster at the Summit | S1A | Studio,1BA | $2,320 |
Best Value Apartments for Rent in Wakefield, MA
As of May 31, 2026 the best value apartment in the Wakefield area is the $0.18 price per square foot 452 Main St Model at 452 Main St, Unit 4 in the in the Hammersmith Village neighborhood starting from $1,800. The second greatest value Wakefield apartment is the TOP FLOOR 2BED 2BATH Model at Michaels Landing starting at $3,000 with a $2.50 price per square foot in the West Peabody neighborhood. Here is today’s list of the best values for Wakefield apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 452 Main St, Unit 4 | 452 Main St | 1BR,1BA | $0.18 |
| Michaels Landing | TOP FLOOR 2BED 2BATH | 2BR,2BA | $2.50 |
| 159 Main St | 159 Main St | 2BR,2BA | $2.67 |
| APT Correlative Housing - The Coolidge | 1BR/1.0BA | 1BR,1BA | $2.81 |
| 295 Lebanon St, Unit 2 | 295 Lebanon St | 2BR,1BA | $2.89 |
| Colonial Point Apartments | 1 Bedroom | 1BR,1BA | $2.55 |
| Mill Street Gardens | 2 Bedroom | 2BR,1BA | $2.65 |
| Leisure Lane Apartments | 2 bedroom | 2BR,1BA | $2.68 |
| The Residences at Stevens Pond | The Appleton | 1BR,1BA | $3.07 |
| 40 Hurd St | 40 Hurd St | 1BR,1BA | $2.80 |
Boston Neighborhood Guide: Living Near UMass, MGH, and State Street
Get the local scoop! ApartmentHomeLiving's Boston Expert reveals the best neighborhoods to rent for employees of UMass Boston, Mass General Hospital, State Street, and more.
Read ArticleDon'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.
Read ArticleTop Neighborhoods Near Boston Colleges and Universities
Learn About the Best Neighborhoods to Rent Near College Campuses in Boston, MA | Find Boston Off-Campus Student Housing at ApartmentHomeLiving.com
Read ArticleReal 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.
Read ArticleQuick 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.
Best Local Schools in Wakefield, MA
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Wakefield, MA Rentals by Map
See the most popular apartments and homes in Wakefield, MA
Frequently Asked Questions about Cheap Wakefield Apartments
What is the Cheapest Studio apartment in Wakefield?
Currently the most affordable Cheap Studio Apartment in Wakefield is at Aster at the Summit listed at $2,320.
How much is rent for a Cheap One Bedroom Wakefield Apartment?
The lowest price for a Cheap One Bedroom Wakefield Apartment is $2,000 at Wakefield one, two, and three bedrooms with heating included.
What is the lowest price for a Cheap Two Bedroom Wakefield Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Wakefield is starting from $2,250 at Leisure Lane Apartments.
What is the most affordable Wakefield Three Bedroom Apartment?
The best deal on a cheap Wakefield Three Bedroom Apartment rental is at The Elms and starts from $3,066.
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

The 10 Best Affordable Neighborhoods in Boston, MA
Written by: Amelia Ramstead
Boston is known for its exciting combination of early American history and modern high-tech universities and employers.

A Local Experts Guide to the Top Boston Neighborhoods for College Renters
Written by: Amelia Ramstead
Hi! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, Massachusetts! We’re excited to help you find your new home, and getting to know the neighborhood is an important part of that process!

Explore Like a Local: The Insider's Guide to Boston
Written by: Amelia Ramstead
Hello from Boston, Massachusetts! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, and I’m here to give you the inside scoop on this unique city.

Boston Major Employer Neighborhood Guide: Living Near UMass, MGH, & State Street
Written by: Amelia Ramstead
Hi! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, Massachusetts. Getting to know your new neighborhood is one of the best parts of moving, and we’re excited to help you get started.
Articles, How-To's, and Tips

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.