Cheap Apartments for Rent in the Downtown Neighborhood of Little Rock, AR from $500 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown area of Little Rock.

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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property at 1923 S Izard St

$825 - $1,100

2 To 3 Bedroom Rentals

Available Now

1923 S Izard St

Little RockAR72206

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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Westside Lofts
1 to 2 Bedroom Apartments

Westside Lofts

1300 Childrens WayLittle Rock, AR 72202
  • Utilities Included
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818 Cumberland St
1 Bedroom Apartments

818 Cumberland St

818 Cumberland StLittle Rock, AR 72202
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Tuf Nut Lofts
2 Bedroom Apartments

Tuf Nut Lofts

423 E 3rd StLittle Rock, AR 72201
  • Utilities Included
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608-612 E 7th St
1 Bedroom Apartments

608-612 E 7th St

608-612 E 7th StLittle Rock, AR 72202
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The Clayton on Scott
1 to 3 Bedroom Apartments

The Clayton on Scott

915 Scott StLittle Rock, AR 72202
  • Utilities Included

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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River Market Lofts
1 Bedroom Apartments

River Market Lofts

433 E 3rd StLittle Rock, AR 72201
Corporate Housing
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MacArthur Commons
1 to 2 Bedroom Apartments

MacArthur Commons

414 E Capitol AveLittle Rock, AR 72202
  • Utilities Included
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River Market Flats
Studio to 2 Bedroom Apartments

River Market Flats

518 E 7th StLittle Rock, AR 72202
  • Utilities Included
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Parkplace Apartments
1 to 2 Bedroom Apartments

Parkplace Apartments

916 Commerce StLittle Rock, AR 72202
  • 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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Showing Results 1-39, Page 1 of 1

Downtown, Little Rock, AR Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown area of Little Rock, AR is a Studio unit found at McGowan Flats Apartments priced from $795. Eastside Lofts Apartments Phase II has the second lowest priced unit, which is a 1 Bed apartment currently listed from $886. Here are the most affordable Downtown apartments for rent in Little Rock, AR:

Apartment ListingModel NameBed/BathPriced From
McGowan Flats ApartmentsStudio - FurnishedStudio,1BA$795
Eastside Lofts Apartments Phase II1x1 - 4981BR,1BA$886
MetropolitanMetro1BR,1BA$918
Block 2 LoftsB A21BR,1BA$950
The Flats at SomaThe Blossom1BR,1BA$1,100
MacArthur Commons2BR/2.0BA2BR,2BA$1,400

Best Value Apartments for Rent in Downtown, AR

As of April 03, 2026 the best value apartment in the Downtown area is the $1.05 price per square foot 1004 Scott St Model at 1004 Scott St, Unit 1 in the in the River Market neighborhood starting from $1,450. The second greatest value Downtown apartment is the 2BR/2.0BA Model at MacArthur Commons starting at $1,400 with a $1.26 price per square foot in the River Market 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.
1004 Scott St, Unit 11004 Scott St2BR,1BA$1.05
MacArthur Commons2BR/2.0BA2BR,2BA$1.26
The Flats at SomaThe Blossom1BR,1BA$1.30
MetropolitanJava1BR,1BA$1.33
221 W 2nd St221 W 2nd StStudio ,1BA$2.39
Block 2 LoftsB A11BR,1BA$1.66
Eastside Lofts Apartments Phase II1x1 - 4981BR,1BA$1.78
McGowan Flats ApartmentsStudio - FurnishedStudio ,1BA$1.99

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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Exploring Little Rock: A Student's Guide on Where to Live Near Little Rock's Best Colleges

Explore Little Rock like a local! This student guide covers the best neighborhoods for renting near the area's top schools. Find your Little Rock apartment today!

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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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Pet Friendly Lifestyle
Downtown, Little Rock, AR

Ranked #32

Among cities in Arkansas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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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 $1,400.

What is the price of a cheap apartment in Downtown?

The cheapest apartment in Downtown is Eastside Lofts Apartments Phase II which is listed at $886, while the average apartment in Downtown costs $4,180.

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 7 regular apartments in Downtown that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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Exploring the Best Affordable Neighborhoods in Little Rock: Finding Your Perfect Place

Written by: Melissa Maxwell

I lived in Little Rock, Arkansas for a time as a child. My grandmother was born and raised there with her seven brothers and sisters. On the day my grandmother was born, her father paid the doctor with a hog.

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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.