Cheap Apartments for Rent in Waterford, MI from $500 (81 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
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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

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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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
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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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Legends Fox Creek
$1,283 - $2,415
Total Monthly Price

Total Monthly Price

Base Rent
$1,283 - $2,415
Total Monthly Price
$1,283 - $2,415
1 to 2 Bedroom Apartments Available Now

Legends Fox Creek

4855 Fox CrkClarkston, MI 48346
Furnished
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  • Customer Reviewed
  • 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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Showing Results 1-50, Page 1 of 2

Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 05/18/2026

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$55067

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 Forestbrook neighborhood priced from $750. Pine Lake Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. 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
Pine Lake ApartmentsThe Juniper1BR,1BA$895
Huron PlaceStudioStudio,1BA$899
Heritage Park East1 Bedroom Apartment1BR,1BA$899
Rivers Edge ApartmentsPrimrose1BR,1BA$916
Greyberry Park Apartments1 Bedroom 1 Bath1BR,1BA$930
Ashton PinesFrasier2BR,1BA$949
Edgewood Park Apartments1 Bedroom, 1 Bathroom1BR,1BA$950
Woodlake Hills1Bed1Bath1BR,1BA$955
Round Hill ApartmentsThe Arlington1BR,1BA$979

Best Value Apartments for Rent in Waterford, MI

As of May 19, 2026 the best value apartment in the Waterford area is the $1.30 price per square foot 2B15BTH1 Model at Elizabeth Lake Estates in the in the Forestbrook neighborhood starting from $1,485. The second greatest value Waterford apartment is the Forest View - Two Bedroom Apartment Model at Forest View Apartments (Forest View Waterford LLC) starting at $1,150 with a $1.05 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.
Elizabeth Lake Estates2B15BTH12BR,1.5BA$1.30
Forest View Apartments (Forest View Waterford LLC)Forest View - Two Bedroom Apartment2BR,1BA$1.05
Laketree2 Bed 1 Bath2BR,1BA$1.16
Crescent ManorDeluxe 2 Bedroom2BR,1BA$1.25
Greens Lake ApartmentsThe Oakmont1BR,1BA$1.28
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Pine Lake ApartmentsThe Spruce2BR,1BA$1.19
Woodlake Hills2Bed1Bath2BR,1BA$1.18
Heritage Park East1 Bedroom Apartment1BR,1BA$1.06
Greyberry Park Apartments1 Bedroom 1 Bath1BR,1BA$1.28

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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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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.