Cheap Apartments for Rent in the Downtown Neighborhood of Edmonton, AB from $700 (165 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown area of 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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Tyrone Heritage Residences
$739 - $1,126Studio to 1 Bedroom Apartments

Tyrone Heritage Residences

10529 99th Ave NWEdmonton, AB T5K 0E7
  • Utilities Included
  • Smoke Free
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Juliette
$800 - $1,050Studio to 1 Bedroom Apartments

Juliette

10249 119th St NWEdmonton, AB T5K 1Z3
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Heritage Trail Apartments 2
$801 - $1,200Studio to 2 Bedroom Apartments

Heritage Trail Apartments 2

9723 105th St NWEdmonton, AB T5K 1A1
  • Utilities Included
  • Smoke Free
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Simon's Court
$824 - $1,164Studio to 1 Bedroom Apartments

Simon's Court

10828 97th St NWEdmonton, AB T5H 2M3
  • Utilities Included

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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Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown area of Edmonton, AB is a Studio unit found at Arcade Heritage Apartments priced from $779. Vista Green has the second lowest priced unit, which is a Studio apartment currently listed from $829. Here are the most affordable Downtown apartments for rent in Edmonton, AB:

Apartment ListingModel NameBed/BathPriced From
Arcade Heritage ApartmentsBachelorStudio,1BA$779
Vista GreenBachelorStudio,1BA$829
Carina CourtBachelorStudio,1BA$859
Wellington ApartmentsBachelorStudio,1BA$879
Priya Place1 bedroom1BR,1BA$879
Flores ManorBachelorStudio,1BA$884
Washington Court1 bedroom1BR,1BA$889
Compton CourtBachelorStudio,1BA$891
Hansen HouseBachelorStudio,1BA$895
Oakmount Manor1 bedroom1BR,1BA$898

Best Value Apartments for Rent in Downtown, AB

As of April 25, 2026 the best value apartment in the Downtown area is the $1.44 price per square foot 2 Bedrooms Model at Rideau Tower in the in the Central neighborhood starting from $1,795. The second greatest value Downtown apartment is the 1 Bedroom 1 Bath Model at The Residences on 104th starting at $1,383 with a $1.56 price per square foot in the Central neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rideau Tower2 Bedrooms2BR,1BA$1.44
The Residences on 104th1 Bedroom 1 Bath1BR,1BA$1.56
Second Street Manor2 bedroom2BR,1BA$1.37
Kent Apartments- 2 Bedroom2BR,1BA$1.56
Joy Manor Apartments1 bedroom1BR,1BA$1.44
Simon's Court- 1 Bedroom1BR,1BA$1.54
Eileen Manor1 bedroom1BR,1BA$1.55
The Executive- 1 Bedroom1BR,1BA$1.56
Ariel Apartments1 bedroom1BR,1BA$1.60
Waselenak Place1 bedroom1BR,1BA$1.59

Frequently Asked Questions about Cheap Downtown Apartments

What is a cheap apartment in Downtown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown is under $898.

What is the price of a cheap apartment in Downtown?

The cheapest apartment in Downtown is Priya Place which is listed at $879, while the average apartment in Downtown costs $1,905.

What types of apartments are the cheapest in Downtown?

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 14 regular apartments in Downtown 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 Downtown?

Cheap apartments in Downtown have an average cost of $985 which is $920 cheaper than the average rent for all rentals in Downtown.

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.