Cheap Apartments for Rent in Waterford, MI from $500 (35 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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Heritage Park West
1 to 2 Bedroom Apartments

Heritage Park West

3500 Watkins Lake RdWaterford, MI 48328
  • Utilities Included
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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

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
  • 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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Sue Kay Apartments
1 to 2 Bedroom Apartments

Sue Kay Apartments

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

Monroe Manor

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

White Lake

1415 Fisk RdWhite Lake, MI 48386
  • Utilities Included
Showing Results 1-35, Page 1 of 1

Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 11/14/2025

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$55063

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
Rivers Edge ApartmentsPrimrose1BR,1BA$897
Huron PlaceStudioStudio,1BA$899
Ashton PinesAustrian1BR,1BA$905
Round Hill ApartmentsThe Arlington1BR,1BA$949
Waterford Square2 Bedroom, 1 Bath Apartment2BR,1BA$949
Pine Apartments1 Bed/1 Bath1BR,1BA$950
Chalet Villa Lakefront CommunityLarge 1 Bed Apartment with Balcony, Lakefront C...1BR,1BA$990
Elizabeth Lake Estates1B1B41BR,1BA$991

Best Value Apartments for Rent in Waterford, MI

As of November 15, 2025 the best value apartment in the Waterford area is the $1.14 price per square foot The Juniper Model at Mosaic of Auburn Hills in the in the North Side neighborhood starting from $1,775. The second greatest value Waterford apartment is the Cambridge Model at Lancaster Lakes starting at $1,500 with a $1.31 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.
Mosaic of Auburn HillsThe Juniper2BR,2BA$1.14
Lancaster LakesCambridge2BR,2BA$1.31
Cherokee Hills ApartmentsElm2BR,1BA$1.15
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.90
Heritage Park East2 Bedroom Apartment2BR,1BA$1.08
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Elizabeth Lake Estates1B1B81BR,1BA$1.20
Waterford Square2 Bedroom, 2 Bath Apartment2BR,2BA$1.27
Bloomfield On The Green - West Bloomfield, MI1 Bed | 1 Bath White1BR,1BA$1.26
Pine Apartments1 Bed/1 Bath1BR,1BA$1.27

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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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 $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 $1,325.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.