Cheap Apartments for Rent in Canyon Lake, CA from $1,300 (30 Rentals)

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

property at 30639 Champion Dr

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

5 Bedroom, 2.5 Bath Home for Rent

Available Now

30639 Champion Dr

Canyon LakeCA92587
property at 29984 Big Range Rd

$1,975

Total Monthly Price

Total Monthly Price

Base Rent
$1,975
Total Monthly Price
$1,975

1 Bedroom, 1 Bath Home for Rent

Available Now

29984 Big Range Rd

Canyon LakeCA92587

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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Ridgestone
Rent Specials
$1,921 - $7,599
Total Monthly Price

Total Monthly Price

Base Rent
$1,921 - $7,599
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Ridgestone

39415 Ardenwood WayLake Elsinore, CA 92532
Family Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

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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The Hunt Club
2 Bedroom Apartments

The Hunt Club

1355 S Perris BlvdPerris, CA 92570
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55+ FountainGlen Grand Isle
1 to 2 Bedroom Apartments

55+ FountainGlen Grand Isle

24405 Village Walk PlMurrieta, CA 92562
Senior Living
  • Utilities Included

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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Vista Pointe
1 to 3 Bedroom Apartments

Vista Pointe

40680 Walsh Center DrMurrieta, CA 92562
Corporate Housing
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Canyon Lake, CA Local Guide

Cheapest Available Canyon Lake Apartments for Rent and Nearby

 

The cheapest available apartment rental in Canyon Lake, CA is a 1 Bed unit found at Country Hills Apartments in the Perris neighborhood priced from $1,375. Regency Apartments in the Perris neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,525. Here is today’s list of the most affordable Canyon Lake apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Country Hills ApartmentsSummit1BR,1BA$1,375
Regency ApartmentsPlan A1BR,1BA$1,525
Crescent Heights Luxury Apartment HomesStudio LoftStudio,1BA$1,745
Arbors at California OaksThe Aspen1BR,1BA$1,796
Grand Oaks Apartments2 Bed 1.5 Bath2BR,1BA$1,835
Lakehouse Apartments1x11BR,1BA$1,845
The Enclave at MenifeeMonet1BR,1BA$1,875
Dakota ApartmentsA11BR,1BA$1,895
Pacific LandingThe Gledhill1BR,1BA$1,914
55+ FountainGlen Grand IsleAntigua1BR,1BA$1,917

Best Value Apartments for Rent in Canyon Lake, CA and Nearby

As of August 14, 2026 the best value apartment in the Canyon Lake area is the $2.24 price per square foot Plan 1 Model at Tricon Winchester in the in the Mystic Point neighborhood starting from $3,439. The second greatest value Canyon Lake apartment is the Plan 1 Model at Tricon Menifee starting at $3,219 with a $2.21 price per square foot in the The Grand neighborhood. Here is today’s list of the best values for Canyon Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Tricon WinchesterPlan 13BR,2.5BA$2.24
Tricon MenifeePlan 13BR,2.5BA$2.21
Vintara ApartmentsC2T3BR,2.5BA$2.22
Gables Oak CreekEngelmann3BR,2BA$2.09
Grand Oaks Apartments3 Bed 2 Bath3BR,2BA$2.09
Bell Murrieta SpringsB2C2BR,2BA$2.48
Gables Alta Murrieta2BDM2BR,2BA$2.25
Lakeridge ApartmentsDuval2BR,2BA$2.32
Rivers EdgeThe Californian1BR,1BA$2.52
Regency ApartmentsPlan A1BR,1BA$2.03

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

Explore Canyon Lake, CA Rentals by Map

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Frequently Asked Questions about Cheap Canyon Lake Apartments

What is the Cheapest Studio apartment in Canyon Lake?

Currently the most affordable Cheap Studio Apartment in Canyon Lake is at Crescent Heights Luxury Apartment Homes listed at $1,745.

How much is rent for a Cheap One Bedroom Canyon Lake Apartment?

The lowest price for a Cheap One Bedroom Canyon Lake Apartment is $1,375 at Country Hills Apartments.

What is the lowest price for a Cheap Two Bedroom Canyon Lake Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Canyon Lake is starting from $1,625 at Regency Apartments.

What is the most affordable Canyon Lake Three Bedroom Apartment?

The best deal on a cheap Canyon Lake Three Bedroom Apartment rental is at Regency Apartments and starts from $1,900.

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.