Cheap Apartments for Rent in the Downtown Anchorage Neighborhood of Anchorage, AK from $700 (94 Rentals)

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

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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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
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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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West Midtown Village
Studio to 1 Bedroom Apartments

West Midtown Village

1414 W 26th AveAnchorage, AK 99503
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Casablanca Apartments
1 to 3 Bedroom Apartments

Casablanca Apartments

4318-4320 Checkmate DrAnchorage, AK 99508
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The Adelaide
Studio to 1 Bedroom Apartments

The Adelaide

201 E 9th AveAnchorage, AK 99501
  • 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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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 $725. Merrill Crossing has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here are the most affordable Downtown Anchorage apartments for rent in Anchorage, AK:

Apartment ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$725
Merrill CrossingStudioStudio,1BA$900
The AdelaideStudioStudio,1BA$917
North Pointe Apartments0Studio,1BA$950
Panoramic ViewStudioStudio,1BA$975
The AlaskanStudioStudio,1BA$1,030
CastleStudio smallStudio,1BA$1,090
Arbor PointeStudioStudio,1BA$1,130
Park PlazaStudioStudio,1BA$1,150
Conifer GroveStudioStudio,1BA$1,160

Best Value Apartments for Rent in Downtown Anchorage, AK

As of June 19, 2026 the best value apartment in the Downtown 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 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.
2210 Roosevelt Dr, Unit 12210 Roosevelt Dr3BR,2BA$1.63
Mariners View2B/2B2BR,2BA$1.55
Stephens Park2 Bed2BR,1BA$1.66
1101 Eagle St3 bed / 1 bath3BR,1BA$1.69
1515 Nelchina St2 Beds, 1 Baths2BR,1BA$1.67
827 E 11th Ave2 Beds, 1 Baths2BR,1BA$1.56
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
Arctic Sun1x1 9001BR,1BA$1.56
Northwind Apartments2nd Floor 1 bedroom1BR,1BA$1.70
Nicole ApartmentsFlat1BR,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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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 North Pointe Apartments which is listed at $1,050, while the average apartment in Downtown Anchorage costs $5,000.

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 5 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 $163 which is $4,837 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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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.

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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.

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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.