Cheap Apartments for Rent in the Downtown Anchorage Neighborhood of Anchorage, AK from $700 (107 Rentals)

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

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

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

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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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West Midtown Pointe
Studio Apartments

West Midtown Pointe

1425 W 27th AveAnchorage, AK 99503
  • Utilities Included
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Caswell Court
1 to 2 Bedroom Apartments

Caswell Court

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

Mountain View Apartments

185 Rideline LoopAnchorage, AK 99508
Senior Living
  • Utilities Included

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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Downtown Anchorage, Anchorage, AK Local Guide

Cheapest Available Downtown Anchorage Apartments for Rent

 

The cheapest available apartment rental in the Downtown Anchorage area of Anchorage, AK is a Studio unit found at Loussac Sogn priced from $700. Panoramic View has the second lowest priced unit, which is a Studio apartment currently listed from $925. Here are the most affordable Downtown Anchorage apartments for rent in Anchorage, AK:

Apartment ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$700
Panoramic ViewStudioStudio,1BA$925
North Pointe Apartments0Studio,1BA$950
Merrill Crossing1 Bed1BR,1BA$1,000
The AdelaideStudioStudio,1BA$1,062
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
The AlaskanStudioStudio,1BA$1,160

Best Value Apartments for Rent in Downtown Anchorage, AK

As of August 08, 2026 the best value apartment in the Downtown 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 Downtown 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 Downtown 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 Sun2x1 9002BR,1BA$1.78
Checkmate Plaza2 Beds, 1 Baths2BR,1BA$1.78
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
Green Tree ApartmentsBottom Floor/Hardwood1BR,1BA$1.80
Nicole ApartmentsFlat1BR,1BA$1.77
Merrill Crossing1 Bed1BR,1BA$1.80

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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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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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Anchorage. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, kid and pet-friendly communities, availability of transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Anchorage Apartments

What is a cheap apartment in Downtown Anchorage?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Anchorage is under $1,160.

What is the price of a cheap apartment in Downtown Anchorage?

The cheapest apartment in Downtown Anchorage is Merrill Crossing which is listed at $1,000, while the average apartment in Downtown Anchorage costs $1,597.

What types of apartments are the cheapest in Downtown 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 4 regular apartments in Downtown 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 Downtown Anchorage?

Cheap apartments in Downtown Anchorage have an average cost of $150 which is $1,447 cheaper than the average rent for all rentals in Downtown 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

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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.

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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.

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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.

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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.