Cheap Apartments for Rent in Waterford, MI from $500 (33 Rentals)

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

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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Heritage Park West
1 to 2 Bedroom Apartments

Heritage Park West

3500 Watkins Lake RdWaterford, MI 48328
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Pine Lake Apartments
1 to 2 Bedroom Apartments

Pine Lake Apartments

3620 Windmill DrWaterford, MI 48329
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Embassy West Apartments
1 to 2 Bedroom Apartments

Embassy West Apartments

5331-5379 Highland RdWaterford, MI 48327
  • 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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Sue Kay Apartments
1 Bedroom Apartments

Sue Kay Apartments

8200 Pontiac Lake RdWhite Lake, MI 48386
  • Utilities Included
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Monroe Manor
1 Bedroom Apartments

Monroe Manor

59 Monroe StPontiac, MI 48341
  • Utilities Included

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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White Lake
3 Bedroom Apartments

White Lake

1415 Fisk RdWhite Lake, MI 48386
  • Utilities Included
Showing Results 1-33, Page 1 of 1

Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 06/29/2025

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$55077

Cheapest Available Waterford Apartments for Rent

 

The cheapest available apartment rental in Waterford, MI is a 1 Bed unit found at Colony Hill Apartments in the Forestbrook neighborhood priced from $800. Huron Place in the Woodward neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here is today’s list of the most affordable Waterford apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Colony Hill ApartmentsOne Bedroom1BR,1BA$800
Huron PlaceStudioStudio,1BA$899
Heritage Park East1 Bedroom Apartment1BR,1BA$899
Rivers Edge ApartmentsPrimrose1BR,1BA$920
Waterford Square2 Bedroom, 1 Bath Apartment2BR,1BA$949
Edgewood Park Apartments1 Bedroom, 1 Bathroom1BR,1BA$950
Ashton PinesFrasier2BR,1BA$1,056
Laketree2 Bed 1 Bath2BR,1BA$1,070
Glengarry Park - Waterford Twp, MIThe Cresent1BR,1BA$1,079
Chalet Villa Lakefront Community2 Bed / 1.5 Bath Clarkston Lakefront Community-...2BR,1BA$1,100

Best Value Apartments for Rent in Waterford, MI

As of June 30, 2025 the best value apartment in the Waterford area is the $1.10 price per square foot Baldwin Square - GENERAL INFO Model at Baldwin Square Townhomes in the starting from $1,750. The second greatest value Waterford apartment is the 2-Bedroom Model at 4081 Airport Rd starting at $1,150 with a $0.96 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 TownhomesBaldwin Square - GENERAL INFO3BR,2.5BA$1.10
4081 Airport Rd2-Bedroom2BR,1.5BA$0.96
4085 Airport Rd, Unit 4085 airport rd Waterford4085 Airport Rd2BR,1.5BA$1.00
Cherokee Hills ApartmentsElm2BR,1BA$1.21
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.90
Round Hill ApartmentsThe Barrington Deluxe2BR,1.5BA$1.36
Heritage Park East2 Bedroom Apartment2BR,1BA$1.08
Ashton PinesSpruce2BR,1BA$1.30
Waterford Square2 Bedroom, 2 Bath Apartment2BR,2BA$1.22
Briarwood ApartmentsBridgewater1BR,1BA$1.35

Quick Rent Budget Calculator

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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!

Explore Waterford, MI Rentals by Map

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See the most popular apartments and homes in Waterford, MI

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Getting Around Waterford, MI

Walk Score®

44 / 100

Car-Dependent

Most errands require a car

Bike Score®

38 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $800 at Colony Hill 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 $900 at Colony Hill Apartments.

What is the most affordable Waterford Three Bedroom Apartment?

The best deal on a cheap Waterford Three Bedroom Apartment rental is at Baldwin Square Townhomes and starts from $1,750.

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.