Cheap Apartments for Rent in Edmonton, AB from $500 (676 Rentals)

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

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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: 04/23/2026

Current apartment rentals in the Edmonton, AB area range in price from $623 to $10,884 with an overall median price of $5,364. The three Edmonton neighborhoods with the lowest median rent pricing are Downtown at $829, South Central at $925, and Central at $699. 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$1,905$829361
South Central$2,520$925157
Central$5,103$699767
North$5,275$623703
South$8,323$8001068
West$9,062$749243

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. Mainstreet Park in the Central neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here is today’s list of the most affordable Edmonton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hartford ApartmentsBachelorStudio,1BA$699
Mainstreet ParkBachelorStudio,1BA$749
Arcade Heritage ApartmentsBachelorStudio,1BA$779
Jasper Ave Lookout 1BachelorStudio,1BA$800
Vista GreenBachelorStudio,1BA$829
Cornerstone ApartmentsBachelorStudio,1BA$829
River Valley View Apartments 1BachelorStudio,1BA$849
Alexander ApartmentsBachelorStudio,1BA$849
Majestic ApartmentsBachelorStudio,1BA$854
Carina CourtBachelorStudio,1BA$859

Best Value Apartments for Rent in Edmonton, AB

As of April 24, 2026 the best value apartment in the Edmonton area is the $1.25 price per square foot - 3 Bedroom Model at South Ridge Townhomes in the in the South neighborhood starting from $1,825. The second greatest value Edmonton apartment is the 3 Bedroom Townhouse Model at Lord Byron Townhouses starting at $1,756 with a $1.25 price per square foot in the South 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$1.25
Lord Byron Townhouses3 Bedroom Townhouse3BR,1.5BA$1.25
Lord Byron Tower III3 Bedroom3BR,1.5BA$1.27
South Ridge Apartments- 3 Bedroom3BR,1.5BA$1.33
Brookside Terrace3 Bedroom3BR,1BA$1.27
Summerlea Place2 Bedroom + Den2BR,1BA$1.24
Garden Oaks2 Bedroom + Den2BR,1BA$1.24
Sandstone Pointe2 Bedroom Bi-level2BR,1BA$1.26
Ekota Manor2 Bedroom2BR,1BA$1.18
Jasper Ave Lookout 21 Bedroom1BR,1BA$1.30

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

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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 $859.

What is the price of a cheap apartment in Edmonton?

The cheapest apartment in Edmonton is Mainstreet on 124th which is listed at $864, while the average apartment in Edmonton costs $5,364.

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 59 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 $512 which is $4,852 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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.