Cheap Apartments for Rent in the O'Malley Neighborhood of Anchorage, AK from $600 (26 Rentals)

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

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9801 Grange Dr
2 Bedroom Apartments

9801 Grange Dr

9801 Grange DrAnchorage, AK 99515
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12641 Landmark St
2 Bedroom Apartments

12641 Landmark St

12641 Landmark StAnchorage, AK 99515

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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1211 Surrey Cir
4 Bedroom Apartments

1211 Surrey Cir

1211 Surrey CirAnchorage, AK 99515
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9500 Lakewood Ct
Studio Apartments

9500 Lakewood Ct

9500 Lakewood CtAnchorage, AK 99507

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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1251 Balfour Dr
Studio Apartments

1251 Balfour Dr

1251 Balfour DrAnchorage, AK 99515
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Lumen Park Apartments
1 to 2 Bedroom Apartments

Lumen Park Apartments

2778 Lumen Park DrAnchorage, AK 99507
Senior Living
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Beluga Flats
Studio to 1 Bedroom Apartments

Beluga Flats

13496 Old Seward HwyAnchorage, AK 99515
  • 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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450-460 Dailey Ave
2 to 4 Bedroom Apartments

450-460 Dailey Ave

450-460 Dailey AveAnchorage, AK 99515
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Dimond
1 to 2 Bedroom Apartments

Dimond

1041 Lingon Berry CtAnchorage, AK 99515

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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Access Apartments
1 to 3 Bedroom Apartments

Access Apartments

9200 Independence DrAnchorage, AK 99507
  • Utilities Included
Showing Results 1-26, Page 1 of 1

O'Malley, Anchorage, AK Local Guide

Cheapest Available O'Malley Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
Martha's Vineyard1931 Martha's Vineyard Cir 42BR,1BA$1,700
ReNew Bayshore TownhomesThe Alaska2BR,1BA$2,170

Best Value Apartments for Rent in O'Malley, AK

As of August 02, 2026 the best value apartment in the O'Malley area is the $2.17 price per square foot The Alaska Model at ReNew Bayshore Townhomes in the in the Bayshore neighborhood starting from $2,170. The second greatest value O'Malley apartment is the 1931 Martha's Vineyard Cir 4 Model at Martha's Vineyard starting at $1,700 with a $1.89 price per square foot in the Bayshore neighborhood. Here is today’s list of the best values for O'Malley apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
ReNew Bayshore TownhomesThe Alaska2BR,1.5BA$2.17
Martha's Vineyard1931 Martha's Vineyard Cir 42BR,1BA$1.89

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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Best Local Schools in
O'Malley, Anchorage, AK

School data provided by Great Schools

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.

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.

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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.