15 W Water St
WakefieldMA01880
Cheap Homes for Rent in Downtown Wakefield Neighborhood of Wakefield, MA from $1,600 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Wakefield area of Wakefield.
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Downtown Wakefield, Wakefield, MA Local Guide
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How much does it cost to rent a home in Downtown Wakefield?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Downtown Wakefield 2 Bedroom Homes for Rent | $2,612 | $2,300 | $2,950 |
| Downtown Wakefield 3 Bedroom Homes for Rent | $3,725 | $3,200 | $4,100 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 4 rentals with your search options within a 1 mile radius of the Downtown Wakefield Neighborhood of Wakefield, MA.
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Downtown Wakefield, Wakefield, MA Local Guide
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Best Value Apartments for Rent in Downtown Wakefield, MA
As of October 27, 2025 the best value apartment in the Downtown Wakefield area is the $3.55 price per square foot B1/B1a Model at Grayson Lofts in the in the Greenwood neighborhood starting from $3,290. The second greatest value Downtown Wakefield apartment is the One Bed Model at The Elms starting at $2,750 with a $3.18 price per square foot in the West Side neighborhood. Here is today’s list of the best values for Downtown Wakefield apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Grayson Lofts | B1/B1a | 2BR,2BA | $3.55 |
| The Elms | One Bed | 1BR,1BA | $3.18 |
| 1 Railroad Ave, Unit Apt1 1st Floor | 1 Railroad Ave | 1BR,1BA | $2.35 |
| 27-37 Water St | 1 Bedroom | 1BR,1BA | $3.50 |
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Pet Friendly LifestyleDowntown Wakefield, Wakefield, MA
Ranked #2
Among cities in Massachusetts for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Downtown Wakefield
What type of rentals are currently available in Downtown Wakefield?
There are currently 55 Apartments for Rent in Downtown Wakefield, MA with pricing that ranges from $1,800 to $7,368. There are also 11 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Wakefield ranging from $1,650 to $4,100.
What is the current price range for Rental Homes in Downtown Wakefield?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Wakefield ranges from $1,650 to $4,100 with an average monthly rent of $2,939.
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.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.