Cheap Apartments for Rent near Walloon Lake, MI from $694 (36 Rentals)

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

property at 853 E Front St

$950 - $1,350

Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,350
Total Monthly Price
$950 - $1,350

1 To 2 Bedroom Homes for Rent

Available Oct 27

853 E Front St

Traverse CityMI49686

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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Victories Square
Studio to 2 Bedroom Apartments

Victories Square

1899 Migizi WayPetoskey, MI 49770
  • Utilities Included
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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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Brookside Commons
1 to 3 Bedroom Apartments

Brookside Commons

4155 Sprucewood DrTraverse City, MI 49684
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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

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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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
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Garfield Oaks
1 to 2 Bedroom Apartments

Garfield Oaks

3011 Garfield Rd NTraverse City, MI 49686
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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

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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Showing Results 1-36, Page 1 of 1

Walloon Lake, MI Local Guide

Cheapest Available Walloon Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Walloon Lake, MI is a 1 Bed unit found at Annika Place in the Downtown Traverse City neighborhood priced from $463. Oak Terrace has the second lowest priced unit, which is a 1 Bed apartment currently listed from $796. Here is today’s list of the most affordable Walloon Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Annika Place1 Bedroom 1 Bath1BR,1BA$463
Oak Terrace1 BEDROOM1BR,1BA$796
Brookside Commons2 Bedroom B2BR,1BA$887
Buena Vista EstatesTwo Bed One Bath2BR,1BA$1,100
Lighthouse Gardens Apartments1Br1BR,1BA$1,146
Sawmill Lofts1 Bedroom - 1 Bath1BR,1BA$1,150
Aspen VillageNew Double-Wide3BR,1BA$1,200
The Block at PetoskeyStudio Workforce Housing Unit*Studio,1BA$1,217
Bay Hill I2D2BR,2BA$1,247
Little Traverse Village1 Bedroom 1 Bathroom1BR,1BA$1,350

Best Value Apartments for Rent in Walloon Lake, MI and Nearby

As of August 24, 2026 the best value apartment in the Walloon Lake area is the $1.64 price per square foot Dune Model at Liv East Bay in the starting from $2,950. The second greatest value Walloon Lake 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 Walloon Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Liv East BayDune3BR,2.5BA$1.64
Townhouse LaneTownhouse Ln2BR,1.5BA$1.29
Bay Hill I2D2BR,2BA$1.21
Brookside Commons2 Bedroom A2BR,1BA$1.37
Village Glen ApartmentsTwo Bed Two Bath2BR,2BA$1.46
Annika Place2 Bedroom 1 Bath C2BR,1BA$1.91
Buena Vista EstatesThree Bed Two Bath3BR,2BA$1.70
Edge 72Traveler1BR,1BA$1.92
Lighthouse Gardens Apartments1Br1BR,1BA$1.76
Oak Terrace1 BEDROOM1BR,1BA$1.38

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

Explore Walloon Lake, MI Rentals by Map

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Frequently Asked Questions about Cheap Walloon Lake Apartments

What is the Cheapest Studio apartment in Walloon Lake?

Currently the most affordable Cheap Studio Apartment in Walloon Lake is at The Block at Petoskey listed at $1,217.

How much is rent for a Cheap One Bedroom Walloon Lake Apartment?

The lowest price for a Cheap One Bedroom Walloon Lake Apartment is $463 at Annika Place.

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

Today's best deal for a Cheap Two Bedroom Apartment in Walloon Lake is starting from $887 at Brookside Commons.

What is the most affordable Walloon Lake Three Bedroom Apartment?

The best deal on a cheap Walloon Lake Three Bedroom Apartment rental is at Aspen Village and starts from $1,200.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.