
Cheap Apartments for Rent in Water Mill, NY from $1,100 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in Water Mill.


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Villages at Shore Landing

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Rocky Neck Village

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Gull Harbor Apartments

Bay Point Apartments

70 Pond Meadow Rd
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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The Sound at Gateway Commons

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60 Mansfield Road

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60 Mansfield Road Phase II

Villas at Pine Hills

Pine Hills South

26 Sunset Ter
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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.
Water Mill, NY Local Guide

How much does it cost to rent an apartment in Water Mill?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Water Mill Studio Apartments | $1,772 | $1,396 | $2,768 |
| Water Mill 1 Bedroom Apartments | $2,301 | $1,150 | $3,438 |
| Water Mill 2 Bedroom Apartments | $3,100 | $1,355 | $4,517 |
| Water Mill 3 Bedroom Apartments | $3,620 | $1,491 | $4,799 |
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Water Mill, NY Local Guide
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Cheapest Available Water Mill Apartments for Rent and Nearby
 The cheapest available apartment rental in Water Mill, NY is a Studio unit found at Villages at Shore Landing priced from $1,396. Rocky Neck Village in the South Lyme neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $1,491. Here is today’s list of the most affordable Water Mill apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Villages at Shore Landing | Cove | Studio,1BA | $1,396 |
| Rocky Neck Village | 3 bed - 50% | 3BR,2BA | $1,491 |
| 70 Pond Meadow Rd | 2 Bedroom | 2BR,1BA | $1,800 |
| 60 Mansfield Road | Style 2 | Studio,1BA | $1,825 |
| The Sound at Gateway Commons | The Westbrook | 1BR,1BA | $1,890 |
Best Value Apartments for Rent in Water Mill, NY and Nearby
As of June 09, 2026 the best value apartment in the Water Mill area is the $1.88 price per square foot 3 bedroom - MKT Model at Rocky Neck Village in the in the South Lyme neighborhood starting from $2,650. The second greatest value Water Mill apartment is the 2BD 2BA + Office Model at Hanford Commons starting at $3,600 with a $2.62 price per square foot in the Southwest New London Lyme neighborhood. Here is today’s list of the best values for Water Mill apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Rocky Neck Village | 3 bedroom - MKT | 3BR,2BA | $1.88 |
| Hanford Commons | 2BD 2BA + Office | 2BR,2BA | $2.62 |
| The Edgewater | Sailfish 2 | 2BR,2BA | $2.07 |
| Heritage Pine Hills Country Club | C1F | 3BR,2BA | $2.85 |
| Fairfield Townhouses At Ridge | The Cherry | 2BR,2BA | $2.78 |
| The Reserve at the Boulevard | C | 2BR,2BA | $2.86 |
| The Cove at Gateway Commons | Atlantic Townhouse | 1BR,1BA | $2.20 |
| Fairfield Courtyard At Middle Island | The Knoll | 2BR,1BA | $2.78 |
| 70 Pond Meadow Rd | 2 Bedroom | 2BR,1BA | $1.89 |
| 60 Mansfield Road Phase II | 1 Bedroom - 9A | 1BR,1BA | $2.75 |
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.
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.
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Cheap Water Mill Apartments
What is the Cheapest Studio apartment in Water Mill?
Currently the most affordable Cheap Studio Apartment in Water Mill is at Villages at Shore Landing listed at $1,396.
How much is rent for a Cheap One Bedroom Water Mill Apartment?
The lowest price for a Cheap One Bedroom Water Mill Apartment is $1,435 at Villages at Shore Landing.
What is the lowest price for a Cheap Two Bedroom Water Mill Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Water Mill is starting from $1,800 at 70 Pond Meadow Rd.
What is the most affordable Water Mill Three Bedroom Apartment?
The best deal on a cheap Water Mill Three Bedroom Apartment rental is at Rocky Neck Village and starts from $1,491.
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

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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.