Cheap Apartments for Rent in the Downtown Anchorage Neighborhood of Anchorage, AK from $725 (104 Rentals)

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

property at 1037 W 26th Ave
$700

Total Monthly Price

Base Rent$700
Total Monthly Price$700
6 Bedroom, 4 Bath Home for Rent
Available Oct 1
Furnished

1037 W 26th Ave

AnchorageAK99503

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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property at 3105 Lakeshore Dr
$1,400 - $1,550

Total Monthly Price

Base Rent$1,400 - $1,550
Total Monthly Price$1,400 - $1,550
1 Bedroom, 1 Bath Condo for Rent
Available Now
Furnished

3105 Lakeshore Dr

AnchorageAK99517
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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

Base Rent$1,550
Total Monthly Price$1,550
1 Bedroom, 1 Bath Townhome for Rent
Available Now
Affordability

4003 Garfield St, Unit Downstairs

4003 Garfield St
AnchorageAK99503
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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

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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Mountain View Apartments
1 to 2 Bedroom Apartments

Mountain View Apartments

185 Rideline LoopAnchorage, AK 99508
Senior Living
  • Utilities Included
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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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Milepost O Apartments
1 Bedroom Apartments

Milepost O Apartments

618 Gambell StAnchorage, AK 99501
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Casablanca Apartments
1 to 3 Bedroom Apartments

Casablanca Apartments

4318-4320 Checkmate DrAnchorage, AK 99508
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601 N Klevin St
Studio Apartments

601 N Klevin St

601 N Klevin StAnchorage, AK 99508

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 Panoramic View priced from $1,000. North Pointe Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,050. Here are the most affordable Downtown Anchorage apartments for rent in Anchorage, AK:

Apartment ListingModel NameBed/BathPriced From
Panoramic ViewStudioStudio, 1BA$1,000
North Pointe Apartments11BR, 1BA$1,050
The AdelaideStudioStudio, 1BA$1,062
The AlaskanStudioStudio, 1BA$1,095
1425 W 40th Ave.1BR/1.0BA1BR, 1BA$1,100
McKinley Tower ApartmentsUnit G StudioStudio, 1BA$1,100
Castle Apartment HomesStudio smallStudio, 1BA$1,100
City ViewStudioStudio, 1BA$1,100
Arbor PointeStudioStudio, 1BA$1,130
(44) West Midtown Village(44) West Midtown Village - 44-31...1BR, 1BA$1,150

Best Value Apartments for Rent in Downtown Anchorage, AK

As of September 23, 2026 the best value apartment in the Downtown Anchorage area is the $1.33 price per square foot 1410 W 27th Ave Model at 1410 W 27th Ave, Unit 3 in the Spenard neighborhood starting from $1,595. The second greatest value Downtown Anchorage apartment is the 1402 W 27th Ave Model at 1402 W 27th Ave, Unit 8 in the Spenard neighborhood starting at $1,595 with a $1.33 price per square foot. 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.
1410 W 27th Ave, Unit 31410 W 27th Ave3BR, 1BA$1.33
1402 W 27th Ave, Unit 81402 W 27th Ave3BR, 1BA$1.33
1350 W 27th Ave, Unit 61350 W 27th Ave3BR, 1BA$1.33
Arctic Sun1x1 8251BR, 1BA$1.69
1425 W 40th Ave.1BR/1.0BA1BR, 1BA$1.38
225 N Park Street - CDY1BR/1.0BA1BR, 1BA$1.49
Tudor Park Apartments1 bed Bottom1BR, 1BA$1.82
Susitna Ridge2 BR x 2 BA2BR, 2BA$1.84
Merrill Crossing2 Beds2BR, 1BA$1.74
Chester Park Estates1BD/1BA- Floorplan A1BR, 1BA$1.83

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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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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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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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 the Cheapest Studio apartment in Downtown Anchorage?

Currently the most affordable Cheap Studio Apartment in Downtown Anchorage is at Panoramic View listed at $1,000.

How much is rent for a Cheap One Bedroom Downtown Anchorage Apartment?

The lowest price for a Cheap One Bedroom Downtown Anchorage Apartment is $1,050 at North Pointe Apartments.

What is the lowest price for a Cheap Two Bedroom Downtown Anchorage Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Anchorage is starting from $1,175 at Merrill Crossing.

What is the most affordable Downtown Anchorage Three Bedroom Apartment?

The best deal on a cheap Downtown Anchorage Three Bedroom Apartment rental is at Chester Park Estates and starts from $1,800.

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 How Commercial-to-Residential Property Conversions Help the Housing Crisis article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.