Apartments for Rent in Detroit, MI under $500
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1 bd $490Base rent4.5 (10)124 Alfred St, Detroit, MI 48201Pet friendly • Fitness center • Patio/Balcony
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1 bd $447+Base rent Income restricted3.0 (1)2280 Vernor, Detroit, MI 48207Dishwasher • Patio/Balcony • Air conditioner
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More Rentals Near Detroit, MI
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9 bd $500Base rent3060 Sandwich Unit# Room 1, Windsor, ON N9C1A4
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8 bd $475Base rent609 St. Joseph Unit# Room 4, Windsor, ON N9C3H3
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8 bd $500Base rent609 St. Joseph Unit# Room 3, Windsor, ON N9C3H3
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8 bd $475Base rent609 St. Joseph Unit# Room 5, Windsor, ON N9C3H3
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Frequently asked questions
When were prices and availability in Detroit, MI last updated?
Prices and availability in Detroit, MI were last updated on 3 Jul 2026.
What are the best apartments in Detroit, MI?
The best apartments in Detroit, MI are: The Residences Water Square, Book Tower, The Ferguson, 1525 Broadway and The Assembly.
What type of rental buildings are in Detroit, MI?
In Detroit, 50% of the residents are renting compared to 50% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 17% of Detroit's rentals, 38% are small-scale complexes with under 50 units, and 44% are single-family rentals.
Your search for apartments in Detroit, MI under $500 stops here
Finding apartments for rent in Detroit, MI for less than $500 has never been so easy! At RentCafe nice cheap apartments are just one click away. There are currently 7 available units in Detroit, MI, renting for under $500. On average, $513 can get you 845 Sqft in this area. Be sure to search for the apartment that is best for you. Under “More”, check the amenities that you consider a must-have, and don’t forget to look at the pet policy. Fitness enthusiasts can even check the Fitness Center box. Whether you are looking for studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, you are sure to find one that will make you want to move in right away.
We’ll help you find the best rental near you
Having to compromise on either price or location can turn your “apartments near me under $500” search into a nightmare. At RentCafe we recognize the importance of both. Therefore, we offer a variety of filters that can help you find exactly what you want. Sorting the results by rent, ascending, will make the cheapest units show up first on the list. Try it out! You will find that right now the cheapest apartment under $500 in Detroit, MI goes for $447 per month. If some of the results are outside the area of your choice, you can go to the left side of the screen and draw a radius or a polygon around your location. Now you will only see results that are relevant to you.