Cheap Apartments for Rent in Anchorage, AK from $600 (56 Rentals)

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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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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
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West Midtown Pointe
Studio Apartments

West Midtown Pointe

1425 W 27th AveAnchorage, AK 99503
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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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North Pointe Apartments
Studio to 3 Bedroom Apartments

North Pointe Apartments

905 Richardson Vista RdAnchorage, AK 99501
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Caswell Court
1 to 2 Bedroom Apartments

Caswell Court

Centennial CirAnchorage, AK 99504
Senior Living
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Mountain View Apartments
1 to 2 Bedroom Apartments

Mountain View Apartments

185 Rideline LoopAnchorage, AK 99508
Senior Living
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West Midtown Place
1 Bedroom Apartments

West Midtown Place

1023 W 26th AveAnchorage, AK 99503
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Northern Lights Manor
1 to 2 Bedroom Apartments

Northern Lights Manor

1353 W 27th AveAnchorage, AK 99503
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Beluga Flats
Studio to 1 Bedroom Apartments

Beluga Flats

13496 Old Seward HwyAnchorage, AK 99515
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West Midtown Village
Studio to 1 Bedroom Apartments

West Midtown Village

1414 W 26th AveAnchorage, AK 99503
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Milepost O Apartments
1 Bedroom Apartments

Milepost O Apartments

618 Gambell StAnchorage, AK 99501
  • Utilities Included

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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Casablanca Apartments
1 to 3 Bedroom Apartments

Casablanca Apartments

4318-4320 Checkmate DrAnchorage, AK 99508
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2805 W 31st Ave
2 Bedroom Apartments

2805 W 31st Ave

2805 W 31st AveAnchorage, AK 99517
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Country Lane
Studio to 1 Bedroom Apartments

Country Lane

810 E 42nd AveAnchorage, AK 99503
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Arctic Gardens
1 to 3 Bedroom Apartments

Arctic Gardens

7211 Meadow StAnchorage, AK 99507
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Gill Oscar House
1 Bedroom Apartments

Gill Oscar House

1344 W 10th AveAnchorage, AK 99501
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Cedarwood Apartments
Studio to 1 Bedroom Apartments

Cedarwood Apartments

1336 W 23rd AveAnchorage, AK 99503
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5440 E 26th Ave
Studio to 2 Bedroom Apartments

5440 E 26th Ave

5440 E 26th AveAnchorage, AK 99508
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Castle
Studio to 2 Bedroom Apartments

Castle

915 W 27th AveAnchorage, AK 99503

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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The Outlook Apartments
Studio to 2 Bedroom Apartments

The Outlook Apartments

234 E 15th AveAnchorage, AK 99501
Corporate Housing
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Arbor Pointe
Studio to 1 Bedroom Apartments

Arbor Pointe

1473 W 25th AveAnchorage, AK 99503
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Strawberry Lane
2 Bedroom Apartments

Strawberry Lane

2100-2110 Strawberry RdAnchorage, AK 99502
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Park Plaza
Studio to 2 Bedroom Apartments

Park Plaza

201 E 16th AveAnchorage, AK 99501
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Rancho Tudor
Studio to 2 Bedroom Apartments

Rancho Tudor

3531 E 42nd AveAnchorage, AK 99508
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Conifer Grove
Studio to 3 Bedroom Apartments

Conifer Grove

218 McCarrey StAnchorage, AK 99508
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Susitna Ridge
Studio to 2 Bedroom Apartments

Susitna Ridge

1601 Medfra StAnchorage, AK 99501

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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: 02/05/2026

Current apartment rentals in the Anchorage, AK area range in price from $600 to $5,991 with an overall median price of $2,521. The three Anchorage neighborhoods with the lowest median rent pricing are Turnagain Arm at $1,470, Midtown at $1,205, and Rabbit Creek at $1,550. 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$1,470$1,4701
Midtown$1,485$1,20517
Rabbit Creek$1,600$1,5502
Mountain View$1,700$1,3504
Huffman O Malley$1,775$1,5504
Old Seward Oceanview$1,775$1,5504
O'Malley$1,775$1,5505
Taku Campbell$1,945$1,10011
Spenard$1,995$75011
Turnagain$1,995$7506

Cheapest Available Anchorage Apartments for Rent

 

The cheapest available apartment rental in Anchorage, AK is a Studio unit found at Panoramic View in the Government Hill neighborhood priced from $925. Country Lane in the Downtown Anchorage neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,025. Here is today’s list of the most affordable Anchorage apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Panoramic ViewStudioStudio,1BA$925
Country LaneStudioStudio,1BA$1,025
CastleStudio X smallStudio,1BA$1,100
Northwind ApartmentsStudio 3rd floorStudio,1BA$1,125
Arbor PointeStudioStudio,1BA$1,155
College ViewStudioStudio,1BA$1,160
The Village at Calais1x11BR,1BA$1,185
Chester Park Estate1BD/1BA- Floorplan A1BR,1BA$1,225
Rancho TudorStudioStudio,1BA$1,225

Best Value Apartments for Rent in Anchorage, AK

As of February 05, 2026 the best value apartment in the Anchorage area is the $1.21 price per square foot 1803 Dare Ave Model at 1803 Dare Ave, Unit 7 in the in the Old Seward Oceanview neighborhood starting from $1,550. The second greatest value Anchorage apartment is the CS - 2 Bedroom Model at Creekside Terrace starting at $1,695 with a $1.38 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 ListingModel NameBed/BathPrice Per Sq.Ft.
1803 Dare Ave, Unit 71803 Dare Ave3BR,1BA$1.21
Creekside TerraceCS - 2 Bedroom2BR,1BA$1.38
2021 Farmer Pl, Unit 32021 Farmer Pl2BR,1BA$1.68
The GlenTwo Bedroom2BR,1BA$1.74
3309 Oregon Dr, Unit A3309 Oregon Dr2BR,1BA$1.67
12250 Ellen Ave, Unit Apartment 312250 Ellen Ave2BR,1BA$1.68
Deer ParkTwo Bedroom2BR,1BA$1.74
Hillcrest Apartments2 bed bottom floor2BR,1BA$1.54
The Mallary2 Bed2BR,1BA$1.75
Northwind ApartmentsStudio 3rd floorStudio ,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.

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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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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.

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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.

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Anchorage, AK

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

Explore Anchorage, AK Rentals by Map

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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 $1,225.

    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 $2,521.

    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 41 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 $866 which is $1,655 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 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

    18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

    Written by: Lauren Harrington

    Renting your next home can feel thrilling and overwhelming at the same time.

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    A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

    Written by: Bob Mallory

    Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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    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.

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    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.