Cheap Apartments for Rent near Waverly, MI from $479 (22 Rentals)

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

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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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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Cheapest Available Waverly Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waverly, MI is a 1 Bed unit found at Windemere Apartments in the North Lansing neighborhood priced from $734. Colonial Place Apartments in the Downtown Lansing neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Waverly apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Windemere Apartments1 Bed, 1 bath1BR,1BA$734
Colonial Place Apartments1 BR / 1 Bath1BR,1BA$750
Shiawassee ApartmentsStudio | One BathStudio,1BA$750
Capitol ParkThe One Bedroom1BR,1BA$807
Abigail SeniorThe Phebe 60%1BR,1BA$907

Best Value Apartments for Rent in Waverly, MI and Nearby

As of August 22, 2026 the best value apartment in the Waverly area is the $0.96 price per square foot Three Bedroom Model at Cambridge Manor in the in the Lansing Eaton neighborhood starting from $1,395. The second greatest value Waverly apartment is the Two Bed | Two Bath | $500 Off Move-In Costs! Model at Potomac Village starting at $1,200 with a $1.20 price per square foot in the Lansing Eaton neighborhood. Here is today’s list of the best values for Waverly apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cambridge ManorThree Bedroom3BR,2BA$0.96
Potomac VillageTwo Bed | Two Bath | $500 Off Move-In Costs!2BR,1BA$1.20
The "Wave"Two Bedroom Premium2BR,1BA$1.08
Colonial Place Apartments1 BR / 1 Bath1BR,1BA$0.83
Skyline ApartmentsTwo Bed | One Bath | First Month's Rent FREE!2BR,1BA$1.41
Covington Woods 55+ Living2 Bedroom (Small)2BR,1BA$1.29
Capitol ParkThe One Bedroom1BR,1BA$1.02
Abigail SeniorThe Phebe 60%1BR,1BA$1.20
Delta Square Apartments - Lansing, MI1 Bedroom / 1 Bathroom1BR,1BA$1.31
Windemere Apartments1 Bed, 1 bath1BR,1BA$1.30

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 Rent According to Income: A Look at Income-Restricted Rentals article

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.

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

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.