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$7501 Bedroom Apartment Available Now
2536 Forest Park Dr, Unit 1-2
2536 Forest Park DrAnchorage, AK 99517
Cheap Apartments for Rent in Anchorage, AK from $600 (42 Rentals)
Search the lowest-cost Apartments available for rent right now in Anchorage.
1140 Cousy Lp
AnchorageAK99504
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$950 - $1,250Studio to 2 Bedroom Apartments Available Now
Merrill Crossing
1275 E 9th AveAnchorage, AK 99501
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$970 - $1,290Studio to 2 Bedroom Apartments Available Now
Panoramic View
787 Elm StAnchorage, AK 99501
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$1,025 - $1,450Studio to 1 Bedroom Apartments Available Now
McKinley Tower Apartments
337 E 4th AveAnchorage, AK 99501
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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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$1,100 - $2,395Studio to 2 Bedroom Apartments Available Dec 29
Creekside Manor
7545 Foxridge WayAnchorage, AK 99518
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$1,125 - $1,250Studio to 1 Bedroom Apartments Available Now
Northwind Apartments
524 E 11th AveAnchorage, AK 99501
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$1,160 - $1,460Studio to 2 Bedroom Apartments Available Now
College View
3501 E 42nd AveAnchorage, AK 99508
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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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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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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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Showing Results 1-42, 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 | $1,392 | $900 | $2,025 |
| Cheap Anchorage 1 Bedroom Apartments | $1,663 | $750 | $3,508 |
| Cheap Anchorage 2 Bedroom Apartments | $1,917 | $758 | $4,016 |
| Cheap Anchorage 3 Bedroom Apartments | $2,350 | $1,650 | $5,358 |
| 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: 12/20/2025Current apartment rentals in the Anchorage, AK area range in price from $750 to $5,358 with an overall median price of $2,536. The three Anchorage neighborhoods with the lowest median rent pricing are Mountain View at $1,350, Turnagain Arm at $1,470, and Basher at $1,280. 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 |
|---|---|---|---|
| Mountain View | $1,375 | $1,350 | 1 |
| Turnagain Arm | $1,470 | $1,470 | 1 |
| Basher | $1,570 | $1,280 | 6 |
| Rabbit Creek | $1,650 | $1,650 | 1 |
| Russian Jack Park | $1,650 | $1,100 | 12 |
| Taku Campbell | $1,695 | $1,100 | 10 |
| Huffman O Malley | $1,825 | $1,650 | 5 |
| Old Seward Oceanview | $1,825 | $1,650 | 5 |
| O'Malley | $1,825 | $1,650 | 6 |
| Turnagain | $1,995 | $750 | 15 |
Cheapest Available Anchorage Apartments for Rent
The cheapest available apartment rental in Anchorage, AK is a Studio unit found at The Adelaide in the Government Hill neighborhood priced from $865. Merrill Crossing in the Government Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here is today’s list of the most affordable Anchorage apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Adelaide | Studio | Studio,1BA | $865 |
| Merrill Crossing | Studio | Studio,1BA | $950 |
| Panoramic View | Studio | Studio,1BA | $970 |
| Country Lane | Studio | Studio,1BA | $1,025 |
| Castle | Studio X small | Studio,1BA | $1,100 |
| Northwind Apartments | 2nd floor Studio | Studio,1BA | $1,125 |
| Arbor Pointe | Studio | Studio,1BA | $1,130 |
| College View | Studio | Studio,1BA | $1,160 |
| The Village at Calais | 1x1 | 1BR,1BA | $1,185 |
Best Value Apartments for Rent in Anchorage, AK
As of December 20, 2025 the best value apartment in the Anchorage area is the $1.47 price per square foot 7001 Sherwood Ave Model at 7001 Sherwood Ave, Unit Unit 2 in the in the Downtown Anchorage neighborhood starting from $2,200. The second greatest value Anchorage apartment is the 2B/2B Model at Mariners View starting at $2,000 with a $1.41 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 7001 Sherwood Ave, Unit Unit 2 | 7001 Sherwood Ave | 2BR,1BA | $1.47 |
| Mariners View | 2B/2B | 2BR,2BA | $1.41 |
| 12107 Horseshoe Dr, Unit Unit 1 | 12107 Horseshoe Dr | 1BR,1BA | $1.69 |
| 1803 Dare Ave, Unit 7 | 1803 Dare Ave | 3BR,1BA | $1.29 |
| The Glen | Two Bedroom | 2BR,1BA | $1.74 |
| Arctic Sun | 2x1 900 | 2BR,1BA | $1.74 |
| 4404 Forrest Rd, Unit 2 | 4404 Forrest Rd | 2BR,1BA | $1.56 |
| Green Tree Apartments | 1 bedroom bottom | 1BR,1BA | $1.73 |
| Nicole Apartments | Flat | 1BR,1BA | $1.70 |
| Northwind Apartments | 2nd floor Studio | Studio ,1BA | $1.73 |
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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleQuick 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!
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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 $1,185.
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 $2,536.
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 49 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 $586 which is $1,950 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
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.