Apartments for Rent in Waverly, MI

Prices and availability in Waverly, MI were last updated on 14 Jul 2026.

The best apartments in Waverly, MI are: Delta Square Apartments - Lansing, MI, Waters Edge Apartments, Plumtree Apartments, Westfield Club Apartments and Westwind Townhomes.

The average rent in Waverly, MI is $1,154.

The price range for a 1-bedroom apartment in Waverly, MI is between $850 and $2,207.

The price range for a 2-bedroom apartment in Waverly, MI is between $975 and $3,092.

The price range for a 3-bedroom apartment in Waverly, MI is between $985 and $2,487.

In Waverly, 44% of the residents are renting compared to 56% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 12% of Waverly's rentals, 79% are small-scale complexes with under 50 units, and 8% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Waverly are about 44 years old, on average. Of these, 3% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Waverly come in a range of sizes and floorplans. Studio apartments represent 0.2% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 42% of the total apartments in the city, while 2-bedroom floorplans represent around 50% of all rentals in Waverly. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.