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

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

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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Heritage Park West
1 to 2 Bedroom Apartments

Heritage Park West

3500 Watkins Lake RdWaterford, MI 48328
  • 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.

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3850-3882 W Walton Blvd
1 Bedroom Apartments

3850-3882 W Walton Blvd

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

3188 Sashabaw Rd

3188 Sashabaw RdWaterford, 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
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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

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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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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Westwood Apartments
Rent Specials
$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
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  • Utilities Included
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Greens Lake Apartments
$1,390 - $1,670
Total Monthly Price

Total Monthly Price

Base Rent
$1,390 - $1,670
Total Monthly Price
$1,390 - $1,670
1 to 2 Bedroom Apartments Contact Us For Availability

Greens Lake Apartments

5605 Parview DrClarkston, MI 48346
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  • 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.

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Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 07/03/2026

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$55078

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 Waterford neighborhood priced from $750. Airport Apartments in the Waterford neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. 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
Airport Apartments1 Bed | 1 Bath | Sublease - 10 Month Contract1BR,1BA$850
Colony Hill ApartmentsOne Bedroom1BR,1BA$850
Heritage Park East1 Bedroom Apartment1BR,1BA$899
Huron PlaceStudioStudio,1BA$899
Rivers Edge ApartmentsPrimrose1BR,1BA$903
Greyberry Park Apartments1 Bedroom 1 Bath1BR,1BA$905
Cass Lake Shore Club1 Bedroom 1 Bathroom1BR,1BA$945
Ashton PinesFrasier2BR,1BA$949
Edgewood Park Apartments1 Bedroom, 1 Bathroom1BR,1BA$950

Best Value Apartments for Rent in Waterford, MI

As of July 03, 2026 the best value apartment in the Waterford area is the $1.20 price per square foot 2 Bedroom 1.5 Bathroom Large Model at Cass Lake Shore Club in the in the Waterford neighborhood starting from $1,435. 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 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.
Cass Lake Shore Club2 Bedroom 1.5 Bathroom Large2BR,1.5BA$1.20
Forest View Townhomes and ApartmentsForest View - Two Bedroom Apartment2BR,1BA$1.05
Independence Square Apartments21B- 2 Bed 1 Bath2BR,1BA$1.09
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.95
The Crossing at Auburn Hills2 Bed 2 Bath2BR,2BA$1.24
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Pine Lake ApartmentsThe Spruce2BR,1BA$1.24
Woodlake Hills2 Bed 1 Bath2BR,1BA$1.18
Airport Apartments1 Bed | 1 Bath | Sublease - 10 Month Contract1BR,1BA$1.17
Greyberry Park Apartments1 Bedroom 1 Bath1BR,1BA$1.25

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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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.

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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!

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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 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.

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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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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.