1492 14th St
Los OsosCA93402
Cheap Homes for Rent in Morro Bay, CA from $1,100 (7 Rentals)
Search the lowest-cost Homes available for rent right now in Morro Bay.
680 Chorro St
San Luis ObispoCA93401
2005 10th St, Unit C
2005 10th St
Los OsosCA93402
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.
805 Boysen Ave
San Luis ObispoCA93405
9165 San Gabriel Rd
AtascaderoCA93422
45 Stenner St
San Luis ObispoCA93405
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.
750 Chorro St
San Luis ObispoCA93401
Showing Results 1-7, Page 1 of 1
Morro Bay, CA Local Guide
Beautiful field by Antti T. Nissinen is licensed under CC BY 2.0
How much does it cost to rent a home in Morro Bay?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Morro Bay 2 Bedroom Homes for Rent | $3,006 | $1,250 | $5,595 |
| Morro Bay 3 Bedroom Homes for Rent | $4,254 | $2,850 | $6,500 |
| Morro Bay 4 Bedroom Homes for Rent | $6,700 | $4,200 | $9,200 |
| Morro Bay 5 Bedroom Homes for Rent | $6,980 | $5,600 | $10,000+ |
| Morro Bay 6 Bedroom Homes for Rent | $10,300 | $10,000 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Morro Bay
Explore Morro Bay
Morro Bay, CA Local Guide
- Morro Bay Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Morro Bay, CA
Pricing Updated: 07/06/2026Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Morro Bay Cayucos Cambria | $4,750 | $1,500 | 7 |
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 Santa Maria neighborhood priced from $1,639. Hancock Terrace in the Santa Maria neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,799. Here is today’s list of the most affordable Morro Bay apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| La Vista | Studio | Studio,1BA | $1,639 |
| Hancock Terrace | 0x1 Speak | Studio,1BA | $1,799 |
| Peach Street | STUDIO | Studio,1BA | $1,850 |
Best Value Apartments for Rent in Morro Bay, CA and Nearby
As of July 06, 2026 the best value apartment in the Morro Bay area is the $3.04 price per square foot 2BR/2.5BA Model at de Tolosa Ranch Apartments in the in the San Luis Obispo neighborhood starting from $3,950. The second greatest value Morro Bay apartment is the 2BR/1.5BA Model at Emerald Ridge Apartments starting at $3,050 with a $2.68 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| de Tolosa Ranch Apartments | 2BR/2.5BA | 2BR,2.5BA | $3.04 |
| Emerald Ridge Apartments | 2BR/1.5BA | 2BR,1.5BA | $2.68 |
| Arrive Paso Robles | The Grace | 2BR,2BA | $2.28 |
| Blue Oak | The Pinot Gris | 2BR,2BA | $2.84 |
| Villa Del Rio | 2 Bedroom 2 Bath | 2BR,2BA | $2.97 |
| ReNew Atascadero | Two Bedroom Apartment | 2BR,2BA | $2.82 |
| La Plaza Villas | 2/2 Flat | 2BR,2BA | $2.52 |
| Dry Creek Apartments | 2x2 | 2BR,2BA | $2.62 |
| Irish Hills Hamlet Apartments | 2BR/1.0BA | 2BR,1BA | $2.94 |
| Alturas Paso Robles Apartment Homes | 1/1A | 1BR,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.
Read Article
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 ArticleQuick 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.
Let everyone know!
Do you know the Morro Bay area?
If you’re an expert on all things Morro Bay, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Morro Bay, CA Rentals by Map
See the most popular apartments and homes in Morro Bay, CA
Frequently Asked Questions about Morro Bay
What type of rentals are currently available in Morro Bay?
There are currently 83 Apartments for Rent in Morro Bay, CA with pricing that ranges from $1,030 to $6,996. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Morro Bay ranging from $1,100 to $10,300.
What is the current price range for Rental Homes in Morro Bay?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Morro Bay ranges from $1,100 to $10,300 with an average monthly rent of $4,877.
How much are larger Three and Four Bedroom Rentals in Morro Bay?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Morro Bay range from $2,295 to $6,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,850 to $6,500. Four Bedroom Single-Family rentals are also available starting from $4,200 and Four Bedroom Apartments start at $1,380.
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
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.
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.
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.
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.