Cheap Apartments for Rent in Morro Bay, CA from $1,000 (36 Rentals)

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

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La Vista
$1,664 - $3,883
Total Monthly Price

Total Monthly Price

Base Rent
$1,664 - $3,883
Total Monthly Price
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Studio to 3 Bedroom Apartments Available Now

La Vista

740 S Western AveSanta Maria, CA 93458
Affordability
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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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
$2,773 - $3,714
Total Monthly Price

Total Monthly Price

Base Rent
$2,773 - $3,714
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Blue Oak

710 Experimental Station RdPaso Robles, CA 93446
Luxury
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property at 680 Chorro St

$1,250 - $2,300

2 Bedroom Rentals

Available Now

680 Chorro St

San Luis ObispoCA93401
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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

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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Showing Results 1-36, Page 1 of 1

Morro Bay, CA Local Guide

Cheapest Neighborhoods for Apartments in Morro Bay, CA

Pricing Updated: 07/28/2026

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$3,250$1,40027

Cheapest Available Morro Bay Apartments for Rent and Nearby

 

The cheapest available apartment rental in Morro Bay, CA is a 1 Bed unit found at Villa del Sol Senior Apts 55+ in the Santa Maria neighborhood priced from $1,250. La Vista in the Santa Maria neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,664. 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 61BR,1BA$1,250
La VistaStudioStudio,1BA$1,664
Hancock Terrace0x1 SpeakStudio,1BA$1,799
Cassia ApartmentsOne Bed B1BR,1BA$1,923
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
Siena ApartmentsCasita1BR,1BA$2,015
Dry Creek Apartments2x12BR,1BA$2,125
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2,200
2710 Spyglass DrN1BR,1BA$2,200
La Plaza Villas3/1 Flat3BR,1BA$2,295

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

As of July 28, 2026 the best value apartment in the Morro Bay area is the $2.57 price per square foot 2BR/1.5BA Model at Emerald Ridge Apartments in the in the Morro Bay Cayucos Cambria neighborhood starting from $3,050. The second greatest value Morro Bay apartment is the The Pinot Gris Model at Blue Oak starting at $2,773 with a $2.64 price per square foot in the Paso Robles 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.
Emerald Ridge Apartments2BR/1.5BA2BR,1.5BA$2.57
Blue OakThe Pinot Gris2BR,2BA$2.64
Alder Creek Apartments2BR/2.0BA2BR,2BA$2.68
Peach Street2x1.52BR,1.5BA$2.85
Villa Del Rio2 Bedroom 2 Bath2BR,2BA$2.97
La Plaza Villas2/2 Flat2BR,2BA$2.52
Dry Creek Apartments2x22BR,2BA$2.62
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2.93
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$3.01
Siena ApartmentsCasita1BR,1BA$3.07

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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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:
Location, Location, Location!

Explore Morro Bay, CA Rentals by Map

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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 $2,295.

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

The cheapest apartment in Morro Bay is La Vista which is listed at $1,806, while the average apartment in Morro Bay costs $3,250.

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 $561 which is $2,689 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

Written by: Robin Stewart

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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.