Cheap Apartments for Rent in Waters, MI from $400 (17 Rentals)

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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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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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Victories Square
Studio to 2 Bedroom Apartments

Victories Square

1899 Migizi WayPetoskey, MI 49770
  • Utilities Included
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Mackinaw Apartments
1 to 2 Bedroom Apartments

Mackinaw Apartments

1327 Mackinaw AveCheboygan, MI 49721
Corporate Housing
  • Utilities Included
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Lighthouse Village
2 to 3 Bedroom Apartments

Lighthouse Village

400 Duncan AveCheboygan, MI 49721
  • 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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Cheboygan Shores
1 Bedroom Apartments

Cheboygan Shores

328 Duncan AveCheboygan, MI 49721
Senior Living
  • Utilities Included
Showing Results 1-17, Page 1 of 1

Waters, MI Local Guide

Cheapest Available Waters Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waters, MI is a 2 Beds unit found at Thunder Bay Estates priced from $575. Presque Isle Estates has the second lowest priced unit, which is a 2 Beds apartment currently listed from $600. Here is today’s list of the most affordable Waters apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Thunder Bay EstatesA232BR,1BA$575
Presque Isle Estates15202BR,1BA$600
Parkview ApartmentsOne bedroom1BR,1BA$694
Harrison Estates Mobile Home CommunityLOT 232BR,2BA$750
Inland Lakes MotelSingle Queen1BR,1BA$800

Best Value Apartments for Rent in Waters, MI and Nearby

As of January 15, 2026 the best value apartment in the Waters area is the $1.50 price per square foot Three Bedroom Model at Ruth Park in the in the Downtown Traverse City neighborhood starting from $1,675. The second greatest value Waters apartment is the 2D Model at Bay Hill I starting at $1,247 with a $1.21 price per square foot in the Downtown Traverse City neighborhood. Here is today’s list of the best values for Waters apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ruth ParkThree Bedroom3BR,2BA$1.50
Bay Hill I2D2BR,2BA$1.21
Brookside CommonsTwo Bedroom2BR,1BA$1.20
Harrison Estates Mobile Home CommunityLOT 232BR,2BA$0.75
Alger Apartments2 bed - 2 bath2BR,2BA$1.41
Mackinaw ApartmentsTwo Bedroom2BR,1BA$1.12
Presque Isle Estates16182BR,1BA$0.80
Parkview ApartmentsOne bedroom1BR,1BA$0.95
Pine Hills and Cedar Hills Apartments1 Bedroom 1 Bath1BR,1BA$1.43
Thunder Bay EstatesA242BR,1BA$1.00

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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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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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 Waters, MI Rentals by Map

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See the most popular apartments and homes in Waters, MI

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Frequently Asked Questions about Cheap Waters Apartments

What is the Cheapest Studio apartment in Waters?

Currently the most affordable Cheap Studio Apartment in Waters is at Studio's at The Vic listed at $1,199.

How much is rent for a Cheap One Bedroom Waters Apartment?

The lowest price for a Cheap One Bedroom Waters Apartment is $694 at Parkview Apartments.

What is the lowest price for a Cheap Two Bedroom Waters Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waters is starting from $575 at Thunder Bay Estates.

What is the most affordable Waters Three Bedroom Apartment?

The best deal on a cheap Waters Three Bedroom Apartment rental is at Ruth Park and starts from $1,675.

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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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!