Cheap Apartments for Rent in Waters, MI from $400 (15 Rentals)

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

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Ruth Park
2 Bedroom Apartments

Ruth Park

520 Wellington StTraverse City, MI 49686
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Mackinaw Apartments
1 to 2 Bedroom Apartments

Mackinaw Apartments

1327 Mackinaw AveCheboygan, MI 49721
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Stargate Motel
2 Bedroom Apartments

Stargate Motel

4646 S Straits HwyIndian River, MI 49749
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Lighthouse Village
2 to 3 Bedroom Apartments

Lighthouse Village

400 Duncan AveCheboygan, MI 49721
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Annika Place
1 to 2 Bedroom Apartments

Annika Place

947 S Garfield AveTraverse City, MI 49686

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 Ruth Park in the Downtown Traverse City neighborhood priced from $405. Thunder Bay Estates has the second lowest priced unit, which is a 2 Beds apartment currently listed from $625. Here is today’s list of the most affordable Waters apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ruth ParkTwo Bedroom2BR,1BA$405
Thunder Bay EstatesD62BR,1BA$625
Cadillac LoftsStudioStudio,1BA$1,071
Sugar Plum Apartments1bdm1BR,1BA$1,200
Alger Apartments2 Bedroom - 1 Bath2BR,1BA$1,260

Best Value Apartments for Rent in Waters, MI and Nearby

As of April 21, 2025 the best value apartment in the Waters area is the $1.88 price per square foot Terrace Estates Condos Model at Terrace Bluff Condominiums in the in the Downtown Traverse City neighborhood starting from $2,400. The second greatest value Waters apartment is the Poppa Bear - Lower Model at Bear Creek Meadows - Petoskey, MI starting at $1,675 with a $1.46 price per square foot . 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.
Terrace Bluff CondominiumsTerrace Estates Condos3BR,2BA$1.88
Bear Creek Meadows - Petoskey, MIPoppa Bear - Lower3BR,2BA$1.46
Ridge45 ApartmentsSolstice South (Barrier Free)2BR,2BA$1.63
Holiday Village Townhomes2 BED/1.5 BATH2BR,1.5BA$1.66
Alger Apartments2 Bedroom - 2 Bath2BR,2BA$1.44
Annika PlaceTwo Bedroom2BR,1BA$1.42
Oak Shore Commons2 Bedroom, 1 Bath End Unit2BR,1BA$1.93
Ruth ParkTwo Bedroom2BR,1BA$0.47
Sugar Plum Apartments1bdm1BR,1BA$1.83
Thunder Bay EstatesD62BR,1BA$1.04

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Frequently Asked Questions about Cheap Waters Apartments

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

The lowest price for a Cheap One Bedroom Waters Apartment is $1,138 at Cadillac Lofts.

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 $405 at Ruth Park.

What is the most affordable Waters Three Bedroom Apartment?

The best deal on a cheap Waters Three Bedroom Apartment rental is at Bear Creek Meadows - Petoskey, MI and starts from $1,675.

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.