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Cheap Apartments for Rent in the University Area Anchorage, AK from $800 (4 Rentals)
Search the lowest-cost Apartments available for rent right now in the University Area area of Anchorage.
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from $1,099Studio to 2 Bedroom Apartments Available Now
College View
3501 E 42nd AveAnchorage, AK 99508
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.
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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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University Area, Anchorage, AK Local Guide
Copyright CoStar Group, Inc
How much does it cost to rent an apartment in University Area?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Area Studio Apartments | $1,147 | $925 | $1,270 |
| University Area 1 Bedroom Apartments | $1,715 | $1,129 | $2,687 |
| University Area 2 Bedroom Apartments | $1,745 | $895 | $2,875 |
| University Area 3 Bedroom Apartments | $1,875 | $1,875 | $1,875 |
Browse Apartments in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the University Area Neighborhood of Anchorage, AK.
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Best Value Apartments for Rent in University Area, AK
As of June 16, 2025 the best value apartment in the University Area area is the $1.57 price per square foot 3 Beds Model at Stephens Park in the in the University Area neighborhood starting from $1,875. The second greatest value University Area apartment is the Stirling Model at The Highlands Luxury Residences starting at $2,875 with a $2.58 price per square foot in the University Area neighborhood. Here is today’s list of the best values for University Area apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Stephens Park | 3 Beds | 3BR,2BA | $1.57 |
| The Highlands Luxury Residences | Stirling | 2BR,2BA | $2.58 |
| Four Seasons | 2 bedroom singlewide | 2BR,2BA | $1.95 |
| 5657 Gate Keeper Ave, Unit Duplex | 5657 Gate Keeper Ave | 2BR,1BA | $1.95 |
| Hampstead Heath | 2 Bed | 2BR,1BA | $1.61 |
| Panoramic View | Studio | Studio ,1BA | $2.06 |
| Alpine | Studio | Studio ,1BA | $2.85 |
| The Greenbriar | Studio | Studio ,1BA | $2.90 |
| College View | Studio | Studio ,1BA | $3.74 |
Getting Around the University Area Neighborhood in Anchorage, AK
Walk Score®
47 / 100
Car-Dependent
Most errands require a car
Bike Score®
65 / 100
Bikeable
Some bike infrastructure
Transit Score®
39 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap University Area Apartments
What is a cheap apartment in University Area?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in University Area is under $2,005.
What is the price of a cheap apartment in University Area?
The cheapest apartment in University Area is Panoramic View which is listed at $1,050, while the average apartment in University Area costs $1,875.
What types of apartments are the cheapest in University Area?
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 4 regular apartments in University Area that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.