Cheap Apartments for Rent in Morro Bay, CA from $1,000 (33 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 Morro Bay.

property at 917 Anchor St

$1,250 - $2,500

Studio To 2 Bedroom Rentals

Available Now

917 Anchor St

Morro BayCA93442
close
View Me
La Vista
$1,656 - $9,624
Total Monthly Price

Total Monthly Price

Base Rent
$1,656 - $9,624
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

La Vista

740 S Western AveSanta Maria, CA 93458
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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
close
View Me
Harvest Lofts
Studio to 1 Bedroom Apartments

Harvest Lofts

845 Madonna RdSan Luis Obispo, CA 93405
  • Utilities Included
close
View Me
2710 Spyglass Dr
1 Bedroom Apartments

2710 Spyglass Dr

2710 Spyglass DrShell Beach, CA 93449
  • Utilities Included
close
View Me
Las Lomas Village
1 to 3 Bedroom Apartments

Las Lomas Village

9245 Ciruela WayAtascadero, CA 93422
  • Utilities Included

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
Showing Results 1-33, Page 1 of 1

Morro Bay, CA Local Guide

Cheapest Neighborhoods for Apartments in Morro Bay, CA

Pricing Updated: 06/12/2026

Current apartment rentals in the Morro Bay, CA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Morro Bay Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Morro Bay Cayucos Cambria$4,687$1,25025

Cheapest Available Morro Bay Apartments for Rent and Nearby

 

The cheapest available apartment rental in Morro Bay, CA is a Studio unit found at La Vista in the Harvest Glen neighborhood priced from $1,656. Dry Creek Apartments in the The Summit neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,950. Here is today’s list of the most affordable Morro Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
La VistaStudioStudio,1BA$1,656
Dry Creek Apartments2x12BR,1BA$1,950
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
Siena ApartmentsCasita1BR,1BA$2,084
Villa del Sol Senior Apts 55+Plan 52BR,1BA$2,150
Bordeaux House Apartments222BR,2BA$2,165
Sierra Sands2 Bedroom 1 Bath2BR,1BA$2,186
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2,200
La Plaza Villas3/1 Flat3BR,1BA$2,250
Ramona GardensAvailable 2 Bedroom2BR,2BA$2,300

Best Value Apartments for Rent in Morro Bay, CA and Nearby

As of June 12, 2026 the best value apartment in the Morro Bay area is the $2.65 price per square foot 2BR/2.5BA Model at de Tolosa Ranch Apartments in the in the Laguna Lake neighborhood starting from $3,445. The second greatest value Morro Bay apartment is the 2BR/1.5BA Model at Emerald Ridge Apartments starting at $3,050 with a $2.57 price per square foot in the Morro Bay Cayucos Cambria neighborhood. Here is today’s list of the best values for Morro Bay apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
de Tolosa Ranch Apartments2BR/2.5BA2BR,2.5BA$2.65
Emerald Ridge Apartments2BR/1.5BA2BR,1.5BA$2.57
Blue OakThe Chardonnay2BR,1.5BA$2.48
Arrive Paso RoblesThe Grace2BR,2BA$2.26
Sierra Sands3 Bedroom 2 Bath3BR,2BA$2.12
Hancock Terrace2x2 Cinema2BR,2BA$2.60
La Plaza Villas2/2 Flat2BR,2BA$2.52
Bordeaux House Apartments222BR,2BA$2.28
Cassia ApartmentsTwo Bed Downstairs2BR,2BA$2.68
Dry Creek Apartments2x22BR,2BA$2.56

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

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

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

Explore Morro Bay, CA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Morro Bay, CA

View Map
Morro Bay, CA Apartments Map
View Map
Morro Bay, CA Rental Homes Map

Frequently Asked Questions about Cheap Morro Bay Apartments

What is a cheap apartment in Morro Bay?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Morro Bay is under $2,300.

What is the price of a cheap apartment in Morro Bay?

The cheapest apartment in Morro Bay is La Vista which is listed at $1,783, while the average apartment in Morro Bay costs $4,687.

What types of apartments are the cheapest in Morro Bay?

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 3 regular apartments in Morro Bay 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 Morro Bay?

Cheap apartments in Morro Bay have an average cost of $238 which is $4,449 cheaper than the average rent for all rentals in Morro Bay.

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

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.