Cheap Apartments for Rent in Morro Bay, CA from $1,030 (41 Rentals)

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

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La Vista
$1,572 - $5,637

Total Monthly Price

Base Rent$1,572 - $5,637
Total Monthly PriceVaries
Studio to 3 Bedroom Apartments Available Now

La Vista

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

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Blue Oak
Rent Specials
$2,518 - $3,525

Total Monthly Price

Base Rent$2,518 - $3,525
Total Monthly PriceVaries
1 to 4 Bedroom Apartments Available Now

Blue Oak

710 Experimental Station RdPaso Robles, CA 93446
Luxury
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ReNew Atascadero
$2,875 - $3,395

Total Monthly Price

Base Rent$2,875 - $3,395
Total Monthly Price$2,875 - $3,395
2 to 3 Bedroom Apartments Available Now

ReNew Atascadero

9170 Seville LnAtascadero, CA 93422
Corporate Housing
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  • Customer Reviewed

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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LSPAS3302
Studio Apartments

LSPAS3302

3302 Ocean AveCayucos, CA 93430
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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
  • Utilities Included
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Vintage at SLO
Studio to 2 Bedroom Apartments

Vintage at SLO

3554 Ranch House RdSan Luis Obispo, CA 93401
Student Housing
  • Utilities Included

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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Showing Results 1-41, Page 1 of 1

Morro Bay, CA Local Guide

Cheapest Neighborhoods for Apartments in Morro Bay, CA

Pricing Updated: 09/12/2026

Current apartment rentals in the Morro Bay, CA area range in price from $1,446 to $8,500 with an overall median price of $2,245. 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$2,245$1,44616

Cheapest Available Morro Bay Apartments for Rent and Nearby

 

The cheapest available apartment rental in Morro Bay, CA is a Studio unit found at Villa del Sol Senior Apartments in the Santa Maria neighborhood priced from $1,350. La Vista in the Santa Maria neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,572. Here is today’s list of the most affordable Morro Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa del Sol Senior Apartments0BR/1.0BAStudio,1BA$1,350
La VistaStudioStudio,1BA$1,572
LSPAS33020BR/1.0BAStudio,1BA$1,750
Cassia ApartmentsOne Bed B1BR,1BA$1,796
Hancock Terrace0x1 SpeakStudio,1BA$1,799
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
Siena ApartmentsCasita1BR,1BA$2,043
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2,050
Mustang I TownhomeStudio Creekside RenovatedStudio,1BA$2,102
Dry Creek Apartments2x12BR,1BA$2,125

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

As of September 13, 2026 the best value apartment in the Morro Bay area is the $2.93 price per square foot 3BR/3.0BA Model at Twin Creeks in the in the San Luis Obispo neighborhood starting from $3,850. The second greatest value Morro Bay apartment is the 4BR/2BA - Foothill Model at Palomar at SLO starting at $1,695 with a $1.47 price per square foot in the San Luis Obispo 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.
Twin Creeks3BR/3.0BA3BR,3BA$2.93
Palomar at SLO4BR/2BA - Foothill4BR,2BA$1.47
Arrive Paso RoblesThe Grace2BR,2BA$2.50
La Plaza Villas3/2 Flat3BR,2BA$2.47
Chorro at SLO4BR/2BA - Morro4BR,2BA$1.58
Villa Del Rio2 Bedroom 2 Bath2BR,2BA$2.97
ReNew AtascaderoTwo Bedroom Apartment2BR,2BA$2.98
Dry Creek Apartments2x12BR,1BA$2.50
Irish Hills Hamlet Apartments2BR/1.0BA2BR,1BA$2.82
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$3.01

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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.

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Remember the 3 Rules of Real Estate:
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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 $2,125.

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

The cheapest apartment in Morro Bay is Villa del Sol Senior Apartments which is listed at $1,550, while the average apartment in Morro Bay costs $2,245.

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 2 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 $343 which is $1,902 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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Rent According to Income: A Look at Income-Restricted Rentals

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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

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Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

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Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.