Cheap Apartments for Rent in the New Downtown Neighborhood of Los Angeles, CA from $300 (112 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the New Downtown area of Los Angeles.

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
Promenade Towers
Rent Specials
$1,469 - $3,055
Total Monthly Price

Total Monthly Price

Base Rent
$1,469 - $3,055
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Promenade Towers

123 S Figueroa StLos Angeles, CA 90012
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

LA Alternatives: Find the Perfect Commuter City for Renting in the Los Angeles Metro Area

Get more breathing room without compromising proximity to LA. Our Los Angeles local expert breaks down the best neighboring cities for renting more affordable apartments with easier commutes.

Read Article
Showing Results 1-50, Page 1 of 3

New Downtown, Los Angeles, CA Local Guide

Cheapest Available New Downtown Apartments for Rent

 

The cheapest available apartment rental in the New Downtown area of Los Angeles, CA is a 1 Bed unit found at 807 S Flower St priced from $645. New Genesis Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $795. Here are the most affordable New Downtown apartments for rent in Los Angeles, CA:

Apartment ListingModel NameBed/BathPriced From
807 S Flower St1B/1B1BR,1BA$645
New Genesis ApartmentsStudioStudio,1BA$795
Huntington ApartmentsBachelor StudioStudio,1BA$800
Alexandria ApartmentsAlexandria Apartments 35%Studio,1BA$927
The Charleston Apartments- Great Studio and One Bedroom Apartment Home for Rent Near Downtown LA!0 Bed/1 Bath BStudio,1BA$995
Villa MetropolitanoStudioStudio,1BA$1,031
Hope ManorStudioStudio,1BA$1,084
Commodore Regency ApartmentsStudioStudio,1BA$1,095
526 S Union Avenue0+1Studio,1BA$1,095
Broadway FlatsStudioStudio,1BA$1,119

Best Value Apartments for Rent in New Downtown, CA

As of May 27, 2026 the best value apartment in the New Downtown area is the $1.20 price per square foot 621 S Broadway Model at 621 S Broadway, Unit 3 in the in the City West neighborhood starting from $2,650. The second greatest value New Downtown apartment is the 2 Beds 1 Bath Model at Spring Tower Lofts starting at $3,800 with a $1.90 price per square foot in the City West neighborhood. Here is today’s list of the best values for New Downtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
621 S Broadway, Unit 3621 S Broadway2BR,1BA$1.20
Spring Tower Lofts2 Beds 1 Bath2BR,1BA$1.90
Tailor Lofts4 bedroom / 2 bath Plans M-O4BR,2BA$2.06
725-729 S Spring StLoftsStudio ,1BA$1.66
720 Bartlett St2 Bedroom 1 Bath2BR,1BA$1.77
Close to everything, far from the ordinary! Live near it all!1BR/1.0BA1BR,1BA$2.07
Pacific Electric LoftsStudio Bed 1 Bath (lb)Studio ,1BA$2.11
Gas Company LoftsStudio LoftStudio ,1BA$1.89
807 S Flower St1B/1B1BR,1BA$0.81
Villa MetropolitanoStudioStudio ,1BA$2.06

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.

Read Article
Decorative image

A Local Expert's Top Neighborhood Guide for Renters While Attending Major Colleges and Universities in Los Angeles

Learn About the Best Neighborhoods to Rent Near College Campuses in Los Angeles, CA | Find Los Angeles Off-Campus Student Housing at ApartmentHomeLiving.com

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
New Downtown, Los Angeles, CA

Ranked #19

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

Our team of engineers and researchers is proud to bring you comprehensive Lifestyle Ratings of rentals in cities and towns across the United States including New Downtown, Los Angeles, and the greater Los Angeles area. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap New Downtown Apartments

What is a cheap apartment in New Downtown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in New Downtown is under $1,119.

What is the price of a cheap apartment in New Downtown?

The cheapest apartment in New Downtown is 807 S Flower St which is listed at $645, while the average apartment in New Downtown costs $7,815.

What types of apartments are the cheapest in New 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 66 regular apartments in New 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 New Downtown?

Cheap apartments in New Downtown have an average cost of $151 which is $7,664 cheaper than the average rent for all rentals in New 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.

Helpful Local Expert Guides

decorative image for The 10 Best Affordable Neighborhoods in Los Angeles, CA article

The 10 Best Affordable Neighborhoods in Los Angeles, CA

Written by: Rachel Presser

Los Angeles is a vast and vibrant city where modernity meets more than a century of fascinating history, in addition to being a global bastion for the entertainment industry and the arts.

decorative image for A Local Expert's Top Neighborhood Guide for Renters While Attending Major Colleges and Universities in Los Angeles article

A Local Expert's Top Neighborhood Guide for Renters While Attending Major Colleges and Universities in Los Angeles

Written by: Rachel Presser

When most people think of collegiate destination cities, Boston and New York often come to mind in addition to smaller college towns.

decorative image for More Than Just Hollywood: A Local Experts Deep Dive into LA Living article

More Than Just Hollywood: A Local Experts Deep Dive into LA Living

Written by: Rachel Presser

Hi from LA! I’m Rachel, your ApartmentHomeLiving.com Local Expert for Los Angeles, CA.

decorative image for The LA Price Check: Separating Cost of Living Myth from Reality article

The LA Price Check: Separating Cost of Living Myth from Reality

Written by: Rachel Presser

Hi from LA! I’m Rachel, your ApartmentHomeLiving.com Local Expert for Los Angeles, CA.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.