Cheap Apartments for Rent in Waterford, MI from $500 (70 Rentals)

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

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Heritage Park East
Rent Specials
$899 - $1,250
Total Monthly Price

Total Monthly Price

Base Rent
$869 - $1,220
Required Monthly Fees
$30
Total Monthly Price
$899 - $1,250
1 to 2 Bedroom Apartments Available Now

Heritage Park East

3325 Watkins Lake RdWaterford, MI 48328
Cost Per Sq.Ft.
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Cass Lake Shore Club
Rent Specials
$940 - $1,680
Total Monthly Price

Total Monthly Price

Base Rent
$935 - $1,675
Required Monthly Fees
$5
Total Monthly Price
$940 - $1,680
1 to 2 Bedroom Apartments Available Now

Cass Lake Shore Club

3530 Denise CtWaterford, MI 48328
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  • 3D Tour

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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Laketree
$1,095 - $1,460
Total Monthly Price

Total Monthly Price

Base Rent
$1,090 - $1,455
Required Monthly Fees
$5
Total Monthly Price
$1,095 - $1,460
1 to 2 Bedroom Apartments Available Now

Laketree

170 Leslie LnWaterford, MI 48328
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Crescent Manor
$1,190 - $1,275
Total Monthly Price

Total Monthly Price

Base Rent
$1,190 - $1,275
Total Monthly Price
$1,190 - $1,275
2 Bedroom Apartments Contact Us For Availability

Crescent Manor

1744 Crescent Lake RdWaterford, MI 48327
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Heritage Park West
1 to 2 Bedroom Apartments

Heritage Park West

3500 Watkins Lake RdWaterford, MI 48328
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3850-3882 W Walton Blvd
1 Bedroom Apartments

3850-3882 W Walton Blvd

3850-3882 W Walton BlvdWaterford, MI 48329
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3188 Sashabaw Rd
1 Bedroom Apartments

3188 Sashabaw Rd

3188 Sashabaw RdWaterford, MI 48329

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Embassy West Apartments
1 to 2 Bedroom Apartments

Embassy West Apartments

5331-5379 Highland RdWaterford, MI 48327
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Driftwood Apartments
1 to 2 Bedroom Apartments

Driftwood Apartments

3058 Dixie HwyWaterford, MI 48328
Corporate Housing
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Lakeland Place
1 to 2 Bedroom Apartments

Lakeland Place

2700 Elizabeth Lake RdWaterford, MI 48328
Senior Living
  • Utilities Included
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33-35 Monroe St
Rent Specials
$550 - $885
Total Monthly Price

Total Monthly Price

Base Rent
$550 - $885
Total Monthly Price
$550 - $885
Studio to 2 Bedroom Apartments Contact Us For Availability

33-35 Monroe St

33-35 Monroe StPontiac, MI 48341
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  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Independence Square Apartments
Rent Specials
$1,099 - $1,300
Total Monthly Price

Total Monthly Price

Base Rent
$949 - $1,150
Required Monthly Fees
$150
Total Monthly Price
$1,099 - $1,300
1 to 2 Bedroom Apartments Available Apr 30

Independence Square Apartments

5891-5901 Dixie HwyClarkston, MI 48346
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4081 Airport Rd
Rent Specials
$1,150 - $1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,150 - $1,250
Total Monthly Price
$1,150 - $1,250
2 Bedroom Apartments Contact Us For Availability

4081 Airport Rd

4081 Airport RdWaterford Township, MI 48329
Cost Per Sq.Ft.
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 04/03/2026

Current apartment rentals in the Waterford, MI area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Waterford Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Forestbrook$1,500$55087

Cheapest Available Waterford Apartments for Rent

 

The cheapest available apartment rental in Waterford, MI is a 1 Bed unit found at Adams Lake Apartments in the Forestbrook neighborhood priced from $750. Colony Hill Apartments in the Forestbrook neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Waterford apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Adams Lake Apartments1 Bedroom Apartment1BR,1BA$750
Colony Hill ApartmentsOne Bedroom1BR,1BA$800
Pine Lake ApartmentsThe Juniper1BR,1BA$895
Ashton PinesAustrian1BR,1BA$899
Heritage Park East1 Bedroom Apartment1BR,1BA$899
Huron PlaceStudioStudio,1BA$899
Round Hill ApartmentsThe Arlington1BR,1BA$939
Edgewood Park Apartments1 Bedroom, 1 Bathroom1BR,1BA$950
Airport ApartmentsAirport Apartments - One Bedroom (Smaller) - AV...1BR,1BA$950
Rivers Edge ApartmentsPrimrose1BR,1BA$952

Best Value Apartments for Rent in Waterford, MI

As of April 03, 2026 the best value apartment in the Waterford area is the $1.29 price per square foot The Opal (2 Car Garage) Model at Baldwin Square Townhomes in the starting from $2,195. The second greatest value Waterford apartment is the Forest View - Two Bedroom Apartment Model at Forest View Townhomes and Apartments starting at $1,150 with a $1.05 price per square foot . Here is today’s list of the best values for Waterford apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Baldwin Square TownhomesThe Opal (2 Car Garage)2BR,2.5BA$1.29
Forest View Townhomes and ApartmentsForest View - Two Bedroom Apartment2BR,1BA$1.05
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.90
The Crossing at Auburn Hills2 Bed 2 Bath2BR,2BA$1.24
Laketree2 Bed 1 Bath2BR,1BA$1.30
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Pine Lake ApartmentsThe Spruce2BR,1BA$1.19
Woodlake Hills2Bed1Bath2BR,1BA$1.18
Ashton PinesFrasier2BR,1BA$1.29
Heritage Park East1 Bedroom Apartment Premium1BR,1BA$1.14

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

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Quick 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.

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

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Frequently Asked Questions about Cheap Waterford Apartments

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

The lowest price for a Cheap One Bedroom Waterford Apartment is $750 at Adams Lake Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Waterford is starting from $850 at Adams Lake Apartments.

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 Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.