Cheap Apartments for Rent in the South Anchorage Neighborhood of Anchorage, AK from $600 (95 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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

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
close
View Me
Lumen Park Apartments
1 to 2 Bedroom Apartments

Lumen Park Apartments

2778 Lumen Park DrAnchorage, AK 99507
Senior Living
close
View Me
West Midtown Gardens
Studio to 1 Bedroom Apartments

West Midtown Gardens

1327 W 27th AveAnchorage, AK 99503
  • Utilities Included
close
View Me
West Midtown Pointe
Studio Apartments

West Midtown Pointe

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

West Midtown Place

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

Beluga Flats

13496 Old Seward HwyAnchorage, AK 99515
  • Utilities Included
close
View Me
Northern Lights Manor
1 to 2 Bedroom Apartments

Northern Lights Manor

1353 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.

Read Article
close
View Me
West Midtown Village
Studio to 1 Bedroom Apartments

West Midtown Village

1414 W 26th AveAnchorage, AK 99503
  • Utilities Included
close
View Me
Casablanca Apartments
1 to 3 Bedroom Apartments

Casablanca Apartments

4318-4320 Checkmate DrAnchorage, AK 99508
  • Utilities Included
close
View Me
2805 W 31st Ave
2 Bedroom Apartments

2805 W 31st Ave

2805 W 31st AveAnchorage, AK 99517
  • Utilities Included
close
View Me
The Alaskan
Studio to 2 Bedroom Apartments

The Alaskan

102-110 E 11th AveAnchorage, AK 99501
close
View Me
Continental
Studio to 2 Bedroom Apartments

Continental

3321 Eureka StAnchorage, AK 99503
close
View Me
Arctic Gardens
1 to 3 Bedroom Apartments

Arctic Gardens

7211 Meadow StAnchorage, AK 99507
  • Utilities Included
close
View Me
Cedarwood Apartments
Studio to 1 Bedroom Apartments

Cedarwood Apartments

1336 W 23rd AveAnchorage, AK 99503
  • 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.

Read Article
Showing Results 1-50, Page 1 of 2

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 Studio unit found at The Alaskan priced from $1,030. Continental has the second lowest priced unit, which is a Studio apartment currently listed from $1,050. Here are the most affordable South Anchorage apartments for rent in Anchorage, AK:

Apartment ListingModel NameBed/BathPriced From
The AlaskanStudioStudio,1BA$1,030
ContinentalStudioStudio,1BA$1,050
CastleStudio smallStudio,1BA$1,090
Arbor PointeStudioStudio,1BA$1,130
Park PlazaStudioStudio,1BA$1,150
The Village at Calais1x11BR,1BA$1,185
College ViewStudioStudio,1BA$1,185
Chester Park Estate1BD/1BA- Floorplan A1BR,1BA$1,225
Russian Jack1x11BR,1BA$1,255
Nicole ApartmentsFlat1BR,1BA$1,275

Best Value Apartments for Rent in South Anchorage, AK

As of June 17, 2026 the best value apartment in the South 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 South Anchorage apartment is the 2 Bed Model at Stephens Park starting at $1,625 with a $1.66 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.
2210 Roosevelt Dr, Unit 12210 Roosevelt Dr3BR,2BA$1.63
Stephens Park2 Bed2BR,1BA$1.66
1101 Eagle St3 bed / 1 bath3BR,1BA$1.69
1515 Nelchina St2 Beds, 1 Baths2BR,1BA$1.67
Arctic Sun1x1 9001BR,1BA$1.56
Checkmate Plaza2 Beds, 1 Baths2BR,1BA$1.78
Kings CourtTwo Bedroom One Bath2BR,1BA$1.67
827 E 11th Ave2 Beds, 1 Baths2BR,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.

Read Article
Decorative image

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.

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

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 $1,275.

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

The cheapest apartment in South Anchorage is The Village at Calais which is listed at $1,185, while the average apartment in South Anchorage costs $2,795.

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 $150 which is $2,645 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

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

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.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.