Cheap Homes for Rent in Ann Arbor, MI from $700 (37 Rentals)

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Search the lowest-cost Homes available for rent right now in Ann Arbor.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 1201 Joyce Ln

1201 Joyce Ln

Ann ArborMI48103
property at 1249 Island Dr

1249 Island Dr

Ann ArborMI48105

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 1041 N Main St

1041 N Main St

Ann ArborMI48104

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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property at 606 W Summit St

606 W Summit St

Ann ArborMI48103
Showing Results 1-37, Page 1 of 1

Ann Arbor, MI Local Guide

Cheapest Neighborhoods for Apartments in Ann Arbor, MI

Pricing Updated: 05/16/2025

Current apartment rentals in the Ann Arbor, MI area range in price from $699 to $9,400 with an overall median price of $5,674. The three Ann Arbor neighborhoods with the lowest median rent pricing are Carpenter at $1,089, Sister Lakes at $1,000, and Westover Hills at $1,000. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Ann Arbor Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Carpenter$2,199$1,08973
Sister Lakes$2,239$1,00090
Westover Hills$2,239$1,00062
Yost$2,390$84581
Glazier Way$2,660$1,03569
Abbot$3,025$1,000206
Haisley$3,050$1,000191
Allen$3,389$949196
Angells$3,389$1,253129
Burns Park$3,389$1,30045

Cheapest Available Ann Arbor Apartments for Rent

 

The cheapest available apartment rental in Ann Arbor, MI is a Studio unit found at Arch Manor in the Central Ann Arbor neighborhood priced from $845. Aspen Chase in the Aspen Ridge Village neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $949. Here is today’s list of the most affordable Ann Arbor apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Arch ManorStudio, 1 bathStudio,1BA$845
Aspen ChaseAlgonac1BR,1BA$949
The VillasThe Carter1BR,1BA$1,029
The Pines of Cloverlane ApartmentsVerona2BR,1BA$1,073
Carleton CourtStudio Deluxe UpgradeStudio,1BA$1,110
400 MaynardStudioStudio,1BA$1,114
Golfside LakeOntario1BR,1BA$1,159
Hamptons of Cloverlane ApartmentsLong Island1BR,1BA$1,169
South GroveB2BR,1BA$1,195

Best Value Apartments for Rent in Ann Arbor, MI

As of May 17, 2025 the best value apartment in the Ann Arbor area is the $0.34 price per square foot 533 Elizabeth St Model at 533 Elizabeth St, Unit 533 Elizabeth in the in the Chapel Hill neighborhood starting from $699. The second greatest value Ann Arbor apartment is the C2 Model at Blue Heron Pointe starting at $2,334 with a $1.55 price per square foot in the Wellesley Gardens neighborhood. Here is today’s list of the best values for Ann Arbor apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
533 Elizabeth St, Unit 533 Elizabeth533 Elizabeth St6BR,2BA$0.34
Blue Heron PointeC23BR,2.5BA$1.55
Saga Ann ArborD24BR,3BA$0.75
Lakestone Apartments2 Bedroom 1 Bath2BR,1BA$1.22
Glencoe HillsBay City2BR,1BA$1.41
Sparrow WoodFinchwood1BR,1.5BA$1.43
Arbor LandingsFir1BR,1BA$1.58
Brown Street Apartments2-Bedroom2BR,1BA$1.33
Greenway Park Apartments2 Bedroom2BR,1BA$1.58
Escher - Intentional Community Living in A2Small Single - FULLY FURNISHED1BR,1BA$1.40

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Ann Arbor

What type of rentals are currently available in Ann Arbor?

There are currently 771 Apartments for Rent in Ann Arbor, MI with pricing that ranges from $699 to $9,400. There are also 158 Single Family Homes for rent, Condos, and Townhome rentals currently available in Ann Arbor ranging from $750 to $9,393.

What is the current price range for Rental Homes in Ann Arbor?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Ann Arbor ranges from $750 to $9,393 with an average monthly rent of $3,385.

How much are larger Three and Four Bedroom Rentals in Ann Arbor?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Ann Arbor range from $889 to $4,350, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $3,900. Four Bedroom Single-Family rentals are also available starting from $3,000 and Four Bedroom Apartments start at $1,124.

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.