Cheap Apartments for Rent in Waterford, MI from $500 (79 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article
close
View Me
Heritage Park West
1 to 2 Bedroom Apartments

Heritage Park West

3500 Watkins Lake RdWaterford, MI 48328
  • Utilities Included
close
View Me
3850-3882 W Walton Blvd
1 Bedroom Apartments

3850-3882 W Walton Blvd

3850-3882 W Walton BlvdWaterford, MI 48329
  • Utilities Included

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.

Read Article
close
View Me
3188 Sashabaw Rd
1 Bedroom Apartments

3188 Sashabaw Rd

3188 Sashabaw RdWaterford, MI 48329
close
View Me
Embassy West Apartments
1 to 2 Bedroom Apartments

Embassy West Apartments

5331-5379 Highland RdWaterford, MI 48327
  • Utilities Included
close
View Me
Driftwood Apartments
1 to 2 Bedroom Apartments

Driftwood Apartments

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

Lakeland Place

2700 Elizabeth Lake RdWaterford, MI 48328
Senior Living
  • 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.

Read Article
close
View Me
Westwood Apartments
$1,150 - $1,450
Total Monthly Price

Total Monthly Price

Base Rent
$1,150 - $1,450
Total Monthly Price
$1,150 - $1,450
1 to 2 Bedroom Apartments Available Now

Westwood Apartments

817-837 Golf DrPontiac, MI 48341
Accessibility
  • Verified
  • Customer Reviewed
  • 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.

Read Article
close
View Me
Legends Fox Creek
$1,330 - $2,065
Total Monthly Price

Total Monthly Price

Base Rent
$1,330 - $2,065
Total Monthly Price
$1,330 - $2,065
1 to 2 Bedroom Apartments Available Now

Legends Fox Creek

4855 Fox CrkClarkston, MI 48346
Furnished
  • Verified
  • Customer Reviewed
  • Utilities Included

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.

Read Article
Showing Results 1-50, Page 1 of 2

Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 08/17/2026

Current apartment rentals in the Waterford, MI area range in price from $550 to $1,945 with an overall median price of $1,135. Here is today’s list neighborhoods with the lowest median pricing for Waterford Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Forestbrook$1,135$55052

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 Waterford neighborhood priced from $850. Adams Lake Apartments in the Waterford 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$850
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$850
Rivers Edge ApartmentsPrimrose1BR,1BA$894
Huron PlaceStudioStudio,1BA$899
Heritage Park EastSterling1BR,1BA$935
Cass Lake Shore Club1 Bedroom 1 Bathroom1BR,1BA$945
Chalet Villa Lakefront Community1/1 Premium1BR,1BA$950
8615 Pontiac Lake Rd1BR/1.0BA1BR,1BA$995
Airport Apartments (DCP Venture 3 LLC)One Bed (Large) | One Bath | Third Month's Rent...1BR,1BA$1,000
Round Hill ApartmentsThe Barrington2BR,1BA$1,049

Best Value Apartments for Rent in Waterford, MI

As of August 17, 2026 the best value apartment in the Waterford area is the $1.31 price per square foot Boise (Townhome) Model at Briarwood Apartments in the in the Waterford neighborhood starting from $1,649. The second greatest value Waterford apartment is the Two Bed | One Bath Model at Forest View Townhomes and Apartments starting at $1,150 with a $1.05 price per square foot in the Waterford 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.
Briarwood ApartmentsBoise (Townhome)2BR,1.5BA$1.31
Forest View Townhomes and ApartmentsTwo Bed | One Bath2BR,1BA$1.05
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.95
The Crossing at Auburn Hills2 Bed 2 Bath2BR,2BA$1.24
Crescent ManorDeluxe 2 Bedroom2BR,1BA$1.25
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Woodlake Hills2 Bed 1 Bath2BR,1BA$1.18
Heritage Park EastSterling Premium1BR,1BA$1.34
Ashton PinesFrasier2BR,1BA$1.23
Cherokee Hills ApartmentsCedar1BR,1BA$1.34

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 Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Waterford, MI Rentals by Map

Decorative image of map

See the most popular apartments and homes in Waterford, MI

View Map
Waterford, MI Apartments Map
View Map
Waterford, MI Rental Homes Map

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 $850 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.

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 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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.