Cheap Apartments for Rent in Edmonton, AB from $500 (762 Rentals)

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

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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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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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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Edmonton, AB Local Guide

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Written By:
Brandie Parton
Local Expert

Cheapest Neighborhoods for Apartments in Edmonton, AB

Pricing Updated: 07/23/2026

Current apartment rentals in the Edmonton, AB area range in price from $621 to $15,656 with an overall median price of $11,001. The three Edmonton neighborhoods with the lowest median rent pricing are Downtown at $875, North at $621, and West at $829. Here is today’s list of the top 6 neighborhoods with the lowest median pricing for Edmonton Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown$2,182$875273
North$6,970$621511
West$9,887$829220
Central$15,656$699565
South$15,656$750852
South Central$15,656$750136

Cheapest Available Edmonton Apartments for Rent

 

The cheapest available apartment rental in Edmonton, AB is a Studio unit found at Hartford Apartments in the Central neighborhood priced from $699. Arcade Heritage Apartments in the Central neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $779. Here is today’s list of the most affordable Edmonton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hartford ApartmentsBachelorStudio,1BA$699
Arcade Heritage ApartmentsBachelorStudio,1BA$779
Shannon Villa- 1 Bedroom1BR,1BA$798
Nicoll ManorBachelorStudio,1BA$799
SterlingStudioStudio,1BA$825
Vista GreenBachelorStudio,1BA$829
Cornerstone ApartmentsBachelorStudio,1BA$829
River Valley View Apartments 1BachelorStudio,1BA$849
Alexander ApartmentsBachelorStudio,1BA$849
PandoraBachelorStudio,1BA$850

Best Value Apartments for Rent in Edmonton, AB

As of July 23, 2026 the best value apartment in the Edmonton area is the $1.16 price per square foot - 3 Bedroom Model at South Ridge Townhomes in the in the South neighborhood starting from $1,695. The second greatest value Edmonton apartment is the 3 Bedroom Townhouse Model at Castleridge Estates starting at $1,659 with a $1.38 price per square foot in the North neighborhood. Here is today’s list of the best values for Edmonton apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
South Ridge Townhomes- 3 Bedroom3BR,1.5BA$1.16
Castleridge Estates3 Bedroom Townhouse3BR,1BA$1.38
Pembroke Estates3 Bedroom3BR,1.5BA$1.26
South Ridge Apartments- 2 Bedroom2BR,1BA$1.27
Primrose Lane Apartments2 Bedroom2BR,1.5BA$1.37
Park Place SouthThe Willow2BR,1BA$1.22
Cambridge WestEton1BR,1BA$1.29
Second Street Manor2 bedroom2BR,1BA$1.39
Canada West Courts- 1 Bedroom1BR,1BA$1.31
Shannon Villa- 1 Bedroom1BR,1BA$1.27

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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Edmonton Overview

As the northernmost city in North America, Edmonton, AB, boasts a metropolitan population of over a million residents. This city, which is located in the province of Alberta, Canada, features a beautiful mixture of diverse landscapes thanks to its location being between the boreal forest and the prairies, along with it being located just northeast of the Rocky Mountains. 

Why live in Edmonton, AB?

In addition to its picturesque landscape, Edmontonians, as the residents are called, are known for their friendliness and overall welcoming nature, making Edmonton a great city to move into and easily make friends. This unique appeal to a variety of age groups and life stations attracts the brightest and the best, which has led to it being one of the fastest-growing cities in all of Canada and one of the youngest, with a median age of 37. It is also an affordable place to relocate. As a result, it was ranked number one by the Canadian Home Builders’ Association when considering key factors that impact housing affordability and overall cost of living rates. 

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

Explore Edmonton, AB Rentals by Map

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See the most popular apartments and homes in Edmonton, AB

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Edmonton, AB Area Reviews

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Sophie • 2+ years in Edmonton

February 25, 2025

well the rent is too hight for new comers and for people who really need to move.

Frequently Asked Questions about Cheap Edmonton Apartments

What is a cheap apartment in Edmonton?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Edmonton is under $850.

What is the price of a cheap apartment in Edmonton?

The cheapest apartment in Edmonton is Shannon Villa which is listed at $798, while the average apartment in Edmonton costs $11,001.

What types of apartments are the cheapest in Edmonton?

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 54 regular apartments in Edmonton 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 Edmonton?

Cheap apartments in Edmonton have an average cost of $257 which is $10,744 cheaper than the average rent for all rentals in Edmonton.

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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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.

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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.