Cheap Apartments for Rent in Waterford, MI from $500 (36 Rentals)

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

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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Cass Lake Shore Club
Rent Specials
$940 - $1,760
Total Monthly Price

Total Monthly Price

Base Rent
$935 - $1,755
Required Monthly Fees
$5
Total Monthly Price
$940 - $1,760
1 to 2 Bedroom Apartments Available Now

Cass Lake Shore Club

3530 Denise CtWaterford, MI 48328
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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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Embassy West Apartments
1 to 2 Bedroom Apartments

Embassy West Apartments

5331-5379 Highland RdWaterford, MI 48327
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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

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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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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Independence Square Apartments
Rent Specials
$1,099 - $1,185
Total Monthly Price

Total Monthly Price

Base Rent
$949 - $1,035
Required Monthly Fees
$150
Total Monthly Price
$1,099 - $1,185
1 to 2 Bedroom Apartments Available Now

Independence Square Apartments

5891-5901 Dixie HwyClarkston, MI 48346
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Sue Kay Apartments
1 to 2 Bedroom Apartments

Sue Kay Apartments

8200 Pontiac Lake RdWhite Lake, MI 48386
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Monroe Manor
Studio to 2 Bedroom Apartments

Monroe Manor

59 Monroe StPontiac, MI 48341
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White Lake
3 to 4 Bedroom Apartments

White Lake

1415 Fisk RdWhite Lake, MI 48386
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Pine Apartments
1 Bedroom Apartments

Pine Apartments

64 Spokane DrPontiac, MI 48341
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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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Showing Results 1-36, Page 1 of 1

Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 02/17/2026

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$55057

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. Adams Lake Apartments in the Forestbrook neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $850. Here is today’s list of the most affordable Waterford apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Colony Hill ApartmentsOne Bedroom1BR,1BA$800
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$850
Heritage Park East1 Bedroom Apartment1BR,1BA$899
Huron PlaceStudioStudio,1BA$899
Round Hill ApartmentsThe Arlington1BR,1BA$939
Ashton PinesFrasier2BR,1BA$949
Cass Lake Shore ClubA11BR,1BA$965
Greyberry Park Apartments1 Bedroom 1 Bath1BR,1BA$966
Chalet Villa Lakefront CommunityLarge 1 Bed Apartment with Balcony, Lakefront C...1BR,1BA$990
Rivers Edge ApartmentsPrimrose1BR,1BA$995

Best Value Apartments for Rent in Waterford, MI

As of February 17, 2026 the best value apartment in the Waterford area is the $1.31 price per square foot The Ruby Model at Baldwin Square Townhomes in the starting from $2,215. The second greatest value Waterford apartment is the The Maple Model at Mosaic of Auburn Hills starting at $1,810 with a $1.15 price per square foot in the North Side neighborhood. 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 Ruby3BR,2.5BA$1.31
Mosaic of Auburn HillsThe Maple2BR,2.5BA$1.15
Elizabeth Lake Estates2B15BTH22BR,1.5BA$1.26
Cherokee Hills ApartmentsElm2BR,1BA$1.12
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.90
217 Summit Rdg, Unit #B217 Summit Rdg2BR,1BA$1.26
Bloomfield On The Green - West Bloomfield, MI2 Bed | 1 Bath White2BR,1BA$1.31
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Woodlake Hills2Bed1Bath2BR,1BA$1.18
Heritage Park East1 Bedroom Apartment Premium1BR,1BA$1.14

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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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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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 $850 at Adams Lake Apartments.

What is the most affordable Waterford Three Bedroom Apartment?

The best deal on a cheap Waterford Three Bedroom Apartment rental is at The Crossing at Auburn Hills and starts from $1,425.

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

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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.

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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.