Cheap Homes for Rent in Anchorage, AK from $1,200 (24 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Read Article

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.

Read Article

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.

Read Article
Showing Results 1-24, Page 1 of 1

Anchorage, AK Local Guide

Cheapest Neighborhoods for Apartments in Anchorage, AK

Pricing Updated: 04/29/2026

Current apartment rentals in the Anchorage, AK area range in price from $700 to $7,699 with an overall median price of $2,938. The three Anchorage neighborhoods with the lowest median rent pricing are Midtown at $1,275, Rabbit Creek at $1,550, and Huffman O Malley 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
Midtown$1,540$1,2759
Rabbit Creek$1,550$1,5501
Huffman O Malley$1,700$1,5501
O'Malley$1,700$1,5501
Mountain View$1,800$1,3005
Rogers Park$1,850$70055
Tudor Area$1,850$1,16046
Midtown Anchorage$2,025$70045
Abbott-Loop$2,085$1,30522
Old Seward Oceanview$2,100$1,5502

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. Merrill Crossing in the Government Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here is today’s list of the most affordable Anchorage apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$700
Merrill CrossingStudioStudio,1BA$900
Panoramic ViewStudioStudio,1BA$975
The AdelaideStudioStudio,1BA$1,011
Country LaneStudioStudio,1BA$1,025

Best Value Apartments for Rent in Anchorage, AK

As of April 29, 2026 the best value apartment in the Anchorage area is the $1.41 price per square foot 2B/2B Model at Mariners View in the in the Government Hill neighborhood starting from $2,000. The second greatest value Anchorage apartment is the 1803 Dare Ave Model at 1803 Dare Ave, Unit 7 starting at $1,550 with a $1.21 price per square foot in the Old Seward Oceanview 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.
Mariners View2B/2B2BR,2BA$1.41
1803 Dare Ave, Unit 71803 Dare Ave3BR,1BA$1.21
525 N Flower St, Unit A525 N Flower St2BR,1BA$1.23
1009 E 9th Ave, Unit B1009 E 9th Ave2BR,1BA$1.60
1101 Eagle St3 bed / 1 bath3BR,1BA$1.59
Arctic Sun2x1 9002BR,1BA$1.73
Deer ParkTwo Bedroom2BR,1BA$1.78
Northwind Apartments2nd Floor 1 bedroom1BR,1BA$1.70
Hillside Chalet1 bedroom1BR,1BA$1.81
Chester Park Estate1BD/1BA- Floorplan A1BR,1BA$1.83

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Anchorage, AK
Population: 291,538

Ranked #68

in US Census Population by City

decorative image of people examining a giant globe and floating graphs

Best Local Schools in
Anchorage, AK

School data provided by Great Schools

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

Explore Anchorage, AK Rentals by Map

Decorative image of map

See the most popular apartments and homes in Anchorage, AK

View Map
Anchorage, AK Apartments Map
View Map
Anchorage, AK Rental Homes Map

Anchorage, AK Area Reviews

    Lorelie • 3+ years in Anchorage

    February 25, 2025

    Nice

    Frequently Asked Questions about Anchorage

    What type of rentals are currently available in Anchorage?

    There are currently 630 Apartments for Rent in Anchorage, AK with pricing that ranges from $700 to $7,699. There are also 76 Single Family Homes for rent, Condos, and Townhome rentals currently available in Anchorage ranging from $1,200 to $8,500.

    What is the current price range for Rental Homes in Anchorage?

    Today's rental pricing for Homes for Rent, Condos and Townhomes in Anchorage ranges from $1,200 to $8,500 with an average monthly rent of $2,569.

    How much are larger Three and Four Bedroom Rentals in Anchorage?

    For those who are looking for larger living arrangements, Three Bedroom Apartments in Anchorage range from $1,350 to $7,699, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,700 to $6,000. Four Bedroom Single-Family rentals are also available starting from $2,500 and Four Bedroom Apartments start at $3,200.

    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 Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

    Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

    Written by: Lauren Harrington

    This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

    decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

    What Does “Rent Burdened” Mean? How Much Rent Is Too Much

    Written by: Lauren Harrington

    This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

    decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

    Maximizing Your Refund: Essential Tax Tips for Renters

    Written by: Christine Leonard, Esq.

    Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

    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.