Cheap Apartments for Rent in Anchorage, AK from $600 (149 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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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property at 4003 Garfield St

$1,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550

1 Bedroom, 1 Bath Townhome for Rent

Available Now

4003 Garfield St, Unit Downstairs

4003 Garfield St
AnchorageAK99503

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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Anchorage, AK Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Anchorage, AK

Pricing Updated: 08/05/2026

Current apartment rentals in the Anchorage, AK area range in price from $700 to $5,416 with an overall median price of $1,547. The three Anchorage neighborhoods with the lowest median rent pricing are Mountain View at $1,250, Midtown at $1,360, and Spenard at $1,370. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Anchorage Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mountain View$1,250$9508
Midtown$1,360$87518
Spenard$1,370$87514
Fairview$1,440$70027
Airport Heights$1,442$70045
Downtown$1,450$70035
Government Hill$1,450$70038
Tudor Area$1,460$70053
Rogers Park$1,479$70061
Huntington Park$1,485$70041

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 $700. Panoramic View in the Government Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $925. Here is today’s list of the most affordable Anchorage apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$700
Panoramic ViewStudioStudio,1BA$925
North Pointe Apartments0Studio,1BA$950
The AdelaideStudioStudio,1BA$1,062
Merrill Crossing1 Bed1BR,1BA$1,100
CastleStudio smallStudio,1BA$1,110
Arbor PointeStudioStudio,1BA$1,130
(44) West Midtown Village(44) West Midtown Village - 44-31...1BR,1BA$1,150
College ViewStudioStudio,1BA$1,155

Best Value Apartments for Rent in Anchorage, AK

As of August 05, 2026 the best value apartment in the Anchorage area is the $1.66 price per square foot 4000 Harrison St Model at 4000 Harrison St, Unit 2 in the in the Spenard neighborhood starting from $2,500. 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.
4000 Harrison St, Unit 24000 Harrison St3BR,2BA$1.66
Mariners View2B/2B2BR,2BA$1.55
1101 Eagle St3 bed / 1 bath3BR,1BA$1.69
1515 Nelchina St2 Beds, 1 Baths2BR,1BA$1.72
Arctic Sun1x1 9001BR,1BA$1.59
827 E 11th Ave2 Beds, 1 Baths2BR,1BA$1.50
Checkmate Plaza2 Beds, 1 Baths2BR,1BA$1.78
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
Nicole ApartmentsFlat1BR,1BA$1.77
Northwind Apartments1 bedroom / 1st floor1BR,1BA$1.79

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 $1,155.

    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 $1,547.

    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 42 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 $351 which is $1,196 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 Rent According to Income: A Look at Income-Restricted Rentals article

    Rent According to Income: A Look at Income-Restricted Rentals

    Written by: Robin Stewart

    The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

    decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

    First Apartment Regrets: Real Renters Share What They'd Do Differently

    Written by: Robin Stewart

    Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

    decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

    Renters Insurance 101: What It Is, What It Covers, and Why You Need It

    Written by: Robin Stewart

    Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

    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.