close
View Me
$900 - $1,175Studio to 2 Bedroom Apartments Available Now
Merrill Crossing
1275 E 9th AveAnchorage, AK 99501
Cheap Apartments for Rent in Anchorage, AK from $600 (30 Rentals)
Search the lowest-cost Apartments available for rent right now in Anchorage.
close
View Me
$925 - $1,225Studio to 2 Bedroom Apartments Available Now
Panoramic View
787 Elm StAnchorage, AK 99501
close
View Me
$1,075 - $1,8001 to 3 Bedroom Apartments Contact Us For Availability
Arctic Gardens
7211 Meadow StAnchorage, AK 99507
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
Showing Results 1-30, Page 1 of 1
Anchorage, AK Local Guide
How much does it cost to rent an apartment in Anchorage?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Anchorage Studio Apartments | $1,409 | $900 | $2,250 |
| Cheap Anchorage 1 Bedroom Apartments | $1,598 | $1,050 | $2,450 |
| Cheap Anchorage 2 Bedroom Apartments | $1,731 | $1,175 | $3,200 |
| Cheap Anchorage 3 Bedroom Apartments | $2,219 | $1,600 | $3,600 |
| Cheap Anchorage 4 Bedroom Apartments | $2,050 | $2,050 | $2,050 |
Browse Top Apartments in Anchorage
See all Apartments in AnchorageExplore Anchorage
Anchorage, AK Local Guide
Written By:
Staff Writer Local Guide Expert
- Anchorage Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Neighborhoods for Apartments in Anchorage, AK
Pricing Updated: 07/28/2025Current apartment rentals in the Anchorage, AK area range in price from $900 to $3,600 with an overall median price of $2,186. The three Anchorage neighborhoods with the lowest median rent pricing are University Area at $1,245, Basher at $1,245, and Midtown at $1,125. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Anchorage Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| University Area | $1,517 | $1,245 | 6 |
| Basher | $1,532 | $1,245 | 3 |
| Midtown | $1,737 | $1,125 | 20 |
| Campbell Park | $1,762 | $1,075 | 26 |
| Mountain View | $1,949 | $1,250 | 4 |
| Taku Campbell | $1,995 | $1,285 | 14 |
| Abbott-Loop | $2,050 | $1,075 | 20 |
| Airport Heights | $2,050 | $900 | 39 |
| Downtown Anchorage | $2,050 | $900 | 86 |
| Fairview | $2,050 | $900 | 17 |
Cheapest Available Anchorage Apartments for Rent
The cheapest available apartment rental in Anchorage, AK is a Studio unit found at Merrill Crossing in the Government Hill neighborhood priced from $900. The Adelaide in the Government Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $917. Here is today’s list of the most affordable Anchorage apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Merrill Crossing | Studio | Studio,1BA | $900 |
| The Adelaide | Studio | Studio,1BA | $917 |
| Panoramic View | Studio | Studio,1BA | $925 |
| Castle | Studio small | Studio,1BA | $1,125 |
| Chester Park Estate | 1BD/1BA- Floorplan A | 1BR,1BA | $1,225 |
| The Mallary | 2 Bed | 2BR,1BA | $1,250 |
| Alpine | Studio | Studio,1BA | $1,265 |
| Susitna Ridge | Studio | Studio,1BA | $1,265 |
| The Outlook Apartments | 1 Bedroom Apartment | 1BR,1BA | $1,280 |
| Hampstead Heath | 2 Bed | 2BR,1BA | $1,285 |
Best Value Apartments for Rent in Anchorage, AK
As of July 28, 2025 the best value apartment in the Anchorage area is the $1.54 price per square foot 1404 E 11th Ave Model at 1404 E 11th Ave, Unit B in the in the Government Hill neighborhood starting from $2,150. The second greatest value Anchorage apartment is the CS - 2 Bedroom Model at Creekside Terrace starting at $1,700 with a $1.39 price per square foot in the Downtown Anchorage neighborhood. Here is today’s list of the best values for Anchorage apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1404 E 11th Ave, Unit B | 1404 E 11th Ave | 3BR,1BA | $1.54 |
| Creekside Terrace | CS - 2 Bedroom | 2BR,1BA | $1.39 |
| Stephens Park | 3 Beds | 3BR,2BA | $1.57 |
| Brighton Park | 3x2 | 3BR,2BA | $1.86 |
| The Greenbriar | Two Bedroom | 2BR,1BA | $1.57 |
| Kings Court | Two Bedroom One Bath | 2BR,1BA | $1.54 |
| Hampstead Heath | 2 Bed | 2BR,1BA | $1.61 |
| The Mallary | 2 Bed | 2BR,1BA | $1.59 |
| Nicole Apartments | Flat | 1BR,1BA | $1.74 |
| Chester Park Estate | 1BD/1BA- Floorplan A | 1BR,1BA | $1.83 |
Quick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Anchorage Overview
Stand up and walk out your front door. Go ahead. We’ll wait. Did you see any moose? Any black bears, grizzly bears, mountain goats or lynx? No? That’s because you don’t live in an apartment in Anchorage Alaska where mother nature is close enough to hit with a badly thrown rock. Anchorage has more going for it than nature (although some people won’t require any more). It has a good economy, ample job opportunities and recreation.
Why live in Anchorage, AK?
Apartment living in Anchorage is perfect for people who like an intimate social life with familiar people. The small town experience is at your finger tips. You can choose a favorite hangout and form sturdy friendships with the people you meet there. The outdoors is within walking distance of the front door of your apartment. Wildlife fills the forest, and you can enjoy it just by walking outside. Nightlife in Anchorage provides everything you could ever want. It ranges from Koots with men in plaid wool shirts and heavy shoes talking loudly about sports to Club Paris with low lighting, excellent food and an intimate ambiance. Anchorage has serious institutions like the Alaska Center for the Performing arts, the Anchorage Concert Association and the Sitka Summer Music Festival which presents more than 600 performances a year.
Anchorage, AKPopulation: 291,538
Ranked #68
in US Census Population by City
Best Local Schools in Anchorage, AK
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Anchorage, AK Rentals by Map
See the most popular apartments and homes in Anchorage, AK
Getting Around Anchorage, AK
Walk Score®
62 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
67 / 100
Bikeable
Some bike infrastructure
Transit Score®
35 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Anchorage, AK Area Reviews
Do you know the Anchorage area?
Let everyone know!
Write a Review
Lorelie • 3+ years in Anchorage
February 25, 2025Nice
Frequently Asked Questions about Cheap Anchorage Apartments
What is a cheap apartment in Anchorage?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Anchorage is under $1,285.
What is the price of a cheap apartment in Anchorage?
The cheapest apartment in Anchorage is Panoramic View which is listed at $1,050, while the average apartment in Anchorage costs $2,186.
What types of apartments are the cheapest in Anchorage?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 62 regular apartments in Anchorage that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Anchorage?
Cheap apartments in Anchorage have an average cost of $803 which is $1,383 cheaper than the average rent for all rentals in Anchorage.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
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.
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.