Cheap Apartments for Rent in Anchorage, AK from $600 (122 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Lumen Park Apartments
1 to 2 Bedroom Apartments

Lumen Park Apartments

2778 Lumen Park DrAnchorage, AK 99507
Senior Living
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West Midtown Gardens
Studio to 1 Bedroom Apartments

West Midtown Gardens

1327 W 27th AveAnchorage, AK 99503
  • Utilities Included
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West Midtown Pointe
Studio Apartments

West Midtown Pointe

1425 W 27th AveAnchorage, AK 99503
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Anchorage, AK Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Anchorage, AK

Pricing Updated: 06/21/2026

Current apartment rentals in the Anchorage, AK area range in price from $725 to $7,694 with an overall median price of $2,510. The three Anchorage neighborhoods with the lowest median rent pricing are Turnagain Arm at $1,200, Mountain View at $950, and Russian Jack Park at $1,255. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Anchorage Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Turnagain Arm$1,200$1,2001
Mountain View$1,400$9506
Russian Jack Park$1,540$1,2557
Scenic Foothills$1,599$1,25513
University Area$1,600$1,18510
Basher$1,609$1,3756
Fairview$1,800$72523
North Star$1,800$72526
Huffman O Malley$1,950$1,7002
Old Seward Oceanview$1,950$1,7002

Cheapest Available Anchorage Apartments for Rent

 

The cheapest available apartment rental in Anchorage, AK is a Studio unit found at Loussac Sogn in the Government Hill neighborhood priced from $725. 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 ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$725
The AdelaideStudioStudio,1BA$917
North Pointe Apartments0Studio,1BA$950
Merrill CrossingStudioStudio,1BA$950
Panoramic ViewStudioStudio,1BA$975
The AlaskanStudioStudio,1BA$1,030
CastleStudio smallStudio,1BA$1,090
The Village at CalaisStudioStudio,1BA$1,130
Arbor PointeStudioStudio,1BA$1,130
Park PlazaStudioStudio,1BA$1,150

Best Value Apartments for Rent in Anchorage, AK

As of June 21, 2026 the best value apartment in the Anchorage area is the $1.63 price per square foot 2210 Roosevelt Dr Model at 2210 Roosevelt Dr, Unit 1 in the in the Spenard neighborhood starting from $2,600. The second greatest value Anchorage apartment is the 2B/2B Model at Mariners View starting at $2,200 with a $1.55 price per square foot in the Government Hill neighborhood. Here is today’s list of the best values for Anchorage apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2210 Roosevelt Dr, Unit 12210 Roosevelt Dr3BR,2BA$1.63
Mariners View2B/2B2BR,2BA$1.55
700 W 47th Ave, Unit #1700 W 47th Ave2BR,1BA$1.59
Stephens Park2 Bed2BR,1BA$1.66
1101 Eagle St3 bed / 1 bath3BR,1BA$1.69
1515 Nelchina St2 Beds, 1 Baths2BR,1BA$1.67
Arctic Sun1x1 9001BR,1BA$1.56
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
827 E 11th Ave2 Beds, 1 Baths2BR,1BA$1.56
Northwind Apartments2nd Floor 1 bedroom1BR,1BA$1.70

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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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, AK
Population: 291,538

Ranked #68

in US Census Population by City

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Best Local Schools in
Anchorage, AK

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Anchorage, AK Area Reviews

    Lorelie • 3+ years in Anchorage

    February 25, 2025

    Nice

    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 $1,150.

    What is the price of a cheap apartment in Anchorage?

    The cheapest apartment in Anchorage is North Pointe Apartments which is listed at $1,050, while the average apartment in Anchorage costs $2,510.

    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 54 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 $273 which is $2,237 cheaper than the average rent for all rentals in Anchorage.

    Expert Rental Resources

    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.

    Articles, How-To's, and Tips

    decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

    Apartment Occupancy Rates: Renter Attraction vs Renter Retention

    Written by: Robin Stewart

    There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

    decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

    How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

    Written by: Robin Stewart

    Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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    Pet-Friendly Renting: Everything You Need to Know Before You Move

    Written by: Christine Leonard, Esq.

    For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

    decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

    Creative Ways Developers Reimagine Retail Spaces as Residential Units

    Written by: Robin Stewart

    Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.