Cheap Homes for Rent in Waterford, MI from $800 (20 Rentals)

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Search the lowest-cost Homes 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.

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property at 148 Pingree Ave

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

2 Bedroom, 1 Bath Townhome for Rent

Available Sep 7

148 Pingree Ave

PontiacMI48342

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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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.

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Waterford, MI Local Guide

Cheapest Neighborhoods for Apartments in Waterford, MI

Pricing Updated: 08/24/2026

Current apartment rentals in the Waterford, MI area range in price from $550 to $1,945 with an overall median price of $1,166. Here is today’s list neighborhoods with the lowest median pricing for Waterford Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Forestbrook$1,166$55056

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
Huron PlaceStudioStudio,1BA$899
Rivers Edge ApartmentsPrimrose1BR,1BA$924
Edgewood Park Apartments$499 Move-In Special · 1 Bed / 1 Bath Apartment...1BR,1BA$950

Best Value Apartments for Rent in Waterford, MI

As of August 24, 2026 the best value apartment in the Waterford area is the $1.37 price per square foot 2B15BTH2 Model at Elizabeth Lake Estates in the in the Waterford neighborhood starting from $1,705. 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.
Elizabeth Lake Estates2B15BTH22BR,1.5BA$1.37
Forest View Townhomes and ApartmentsTwo Bed | One Bath2BR,1BA$1.05
Colony Hill ApartmentsTwo Bedroom2BR,1BA$0.95
Crescent ManorDeluxe 2 Bedroom2BR,1BA$1.25
Greyberry Park Apartments2 Bedroom 2 Bath2BR,2BA$1.29
Adams Lake Apartments2 Bedroom Apartment2BR,1BA$0.92
Ashton PinesDouglas2BR,1BA$1.22
Round Hill ApartmentsThe Barrington2BR,1.5BA$1.23
Heritage Park EastSterling Premium1BR,1BA$1.34
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.

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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 Waterford

What type of rentals are currently available in Waterford?

There are currently 182 Apartments for Rent in Waterford, MI with pricing that ranges from $550 to $3,600. There are also 52 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterford ranging from $800 to $14,900.

What is the current price range for Rental Homes in Waterford?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterford ranges from $800 to $14,900 with an average monthly rent of $2,430.

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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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.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.