Cheap Apartments for Rent in the South Anchorage Neighborhood of Anchorage, AK from $618 (115 Rentals)

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

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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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 1618 E St

$1,525 - $1,625

2 Bedroom Rentals

Available Sep 15

1618 E St

AnchorageAK99501
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
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1832 Dare Ave
$1,600 - $2,000
Total Monthly Price

Total Monthly Price

Base Rent
$1,600 - $2,000
Total Monthly Price
$1,600 - $2,000
2 to 3 Bedroom Apartment Available Now

1832 Dare Ave

1832 Dare AveAnchorage, AK 99515
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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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1536 G St, Unit B
$1,750
Total Monthly Price

Total Monthly Price

Base Rent
$1,750
Total Monthly Price
$1,750
1 Bedroom Apartment Available Now

1536 G St, Unit B

1536 G StAnchorage, AK 99501
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3111 W 30th Ave, Unit 2
$1,800
Total Monthly Price

Total Monthly Price

Base Rent
$1,800
Total Monthly Price
$1,800
2 Bedroom Apartment Available Aug 31

3111 W 30th Ave, Unit 2

3111 W 30th AveAnchorage, AK 99517
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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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West Midtown Pointe
Studio Apartments

West Midtown Pointe

1425 W 27th AveAnchorage, AK 99503
  • Utilities Included
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West Midtown Place
1 Bedroom Apartments

West Midtown Place

1023 W 26th AveAnchorage, AK 99503
  • Utilities Included
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Beluga Flats
Studio to 1 Bedroom Apartments

Beluga Flats

13496 Old Seward HwyAnchorage, AK 99515
  • 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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Showing Results 1-50, Page 1 of 3

South Anchorage, Anchorage, AK Local Guide

Cheapest Available South Anchorage Apartments for Rent

 

The cheapest available apartment rental in the South Anchorage area of Anchorage, AK is a 1 Bed unit found at 1335 Hyder Street priced from $995. Castle has the second lowest priced unit, which is a Studio apartment currently listed from $1,100. Here are the most affordable South Anchorage apartments for rent in Anchorage, AK:

Apartment ListingModel NameBed/BathPriced From
1335 Hyder Street1BR/1.0BA1BR,1BA$995
CastleStudio smallStudio,1BA$1,100
Arbor PointeStudioStudio,1BA$1,130
City ViewStudioStudio,1BA$1,145
The Mallary1 Bed1BR,1BA$1,150
The AlaskanStudioStudio,1BA$1,150
(44) West Midtown Village(44) West Midtown Village - 44-31...1BR,1BA$1,150
Country Lane1x1 (s)1BR,1BA$1,210
Chester Park Estates1BD/1BA- Floorplan A1BR,1BA$1,225
(39) Camlett(39) Camlett - 39-291BR,1BA$1,250

Best Value Apartments for Rent in South Anchorage, AK

As of August 25, 2026 the best value apartment in the South Anchorage area is the $2.04 price per square foot C Suite W/Den Model at Creekside Manor in the in the Taku neighborhood starting from $2,195. The second greatest value South Anchorage apartment is the 2 bedroom Model at Hillside Chalet starting at $1,530 with a $1.52 price per square foot in the Downtown Anchorage neighborhood. Here is today’s list of the best values for South Anchorage apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Creekside ManorC Suite W/Den2BR,2BA$2.04
Hillside Chalet2 bedroom2BR,1BA$1.52
12250 Ellen Ave, Unit Apartment 312250 Ellen Ave2BR,1BA$1.79
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
Checkmate Plaza2 Beds, 1 Baths2BR,1BA$1.78
AlpineTwo Bedroom2BR,1BA$1.92
Nicole ApartmentsFlat1BR,1BA$1.77
Chester Park Estates1BD/1BA- Floorplan A1BR,1BA$1.83
(44) West Midtown Village(44) West Midtown Village - 44-31...1BR,1BA$1.92
The Mallary1 Bed1BR,1BA$1.94

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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Pet Friendly Lifestyle
South Anchorage, Anchorage, AK

Ranked #41

Among cities in Alaska for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
South Anchorage, Anchorage, AK

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Anchorage. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and the best outdoor access, transit availability, pet-friendly communities, features that make it easier to raise kids, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap South Anchorage Apartments

What is a cheap apartment in South Anchorage?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Anchorage is under $1,250.

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

The cheapest apartment in South Anchorage is 1335 Hyder Street which is listed at $995, while the average apartment in South Anchorage costs $1,640.

What types of apartments are the cheapest in South 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 3 regular apartments in South 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 South Anchorage?

Cheap apartments in South Anchorage have an average cost of $138 which is $1,502 cheaper than the average rent for all rentals in South 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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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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.