Cheap Apartments for Rent in Morro Bay, CA from $1,000 (38 Rentals)

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

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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La Vista
$1,917 - $3,694
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$1,917 - $3,694
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Studio to 3 Bedroom Apartments Available Now

La Vista

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

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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Blue Oak
Rent Specials
$2,440 - $3,571
Total Monthly Price

Total Monthly Price

Base Rent
$2,440 - $3,571
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1 to 4 Bedroom Apartments Available Now

Blue Oak

710 Experimental Station RdPaso Robles, CA 93446
Luxury
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  • Customer Reviewed
  • 3D Tour

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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Harvest Lofts
Studio to 1 Bedroom Apartments

Harvest Lofts

845 Madonna RdSan Luis Obispo, CA 93405
  • Utilities Included
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Las Lomas Village
1 to 3 Bedroom Apartments

Las Lomas Village

9245 Ciruela WayAtascadero, CA 93422
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2710 Spyglass Dr
1 Bedroom Apartments

2710 Spyglass Dr

2710 Spyglass DrShell Beach, CA 93449
  • 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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Showing Results 1-38, Page 1 of 1

Morro Bay, CA Local Guide

Cheapest Neighborhoods for Apartments in Morro Bay, CA

Pricing Updated: 04/28/2026

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$2,800$1,39619

Cheapest Available Morro Bay Apartments for Rent

 

The cheapest available apartment rental in Morro Bay, CA is a Studio unit found at Villa del Sol Senior Apts 55+ in the Harvest Glen neighborhood priced from $1,350. Mustang I Townhome in the Valle Vista neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $1,380. Here is today’s list of the most affordable Morro Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa del Sol Senior Apts 55+Plan 9Studio,1BA$1,350
Mustang I Townhome4x1 Flat4BR,1BA$1,380
La VistaStudioStudio,1BA$1,918
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
Hancock Terrace1x1 Deco1BR,1BA$1,999
Bordeaux House Apartments222BR,2BA$2,165
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2,200
La Plaza Villas3/1 Flat3BR,1BA$2,250
Sierra Sands3 Bedroom 2 Bath3BR,2BA$2,283
Cassia ApartmentsTwo Bed Upstairs2BR,2BA$2,290

Best Value Apartments for Rent in Morro Bay, CA

As of April 28, 2026 the best value apartment in the Morro Bay area is the $2.32 price per square foot The Grace Model at Arrive Paso Robles in the in the The Summit neighborhood starting from $2,510. The second greatest value Morro Bay apartment is the 3 Bedroom 2 Bath Model at Sierra Sands starting at $2,283 with a $2.12 price per square foot in the Harvest Glen 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.
Arrive Paso RoblesThe Grace2BR,2BA$2.32
Sierra Sands3 Bedroom 2 Bath3BR,2BA$2.12
ReNew AtascaderoTwo Bedroom Apartment2BR,2BA$2.82
La Plaza Villas3/1 Flat3BR,1BA$2.36
Bordeaux House Apartments222BR,2BA$2.28
Cassia ApartmentsTwo Bed Downstairs2BR,2BA$2.69
The Oaks at JornadaRenovated, upstairs, lower deposit2BR,2BA$2.74
Ramona GardensAvailable 2 Bedroom2BR,2BA$2.88
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2.93
Hancock Terrace1x1 Deco1BR,1BA$2.93

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

Explore Morro Bay, CA Rentals by Map

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

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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 $2,290.

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

The cheapest apartment in Morro Bay is Alturas Paso Robles Apartment Homes which is listed at $1,995, while the average apartment in Morro Bay costs $2,800.

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 $602 which is $2,198 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

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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.