Cheap Apartments for Rent in the Downtown Olympia Neighborhood of Olympia, WA from $1,000 (14 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Olympia area of Olympia.

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Capitol Terrace
Studio to 2 Bedroom Apartments

Capitol Terrace

1517 Capitol Way SOlympia, WA 98501
  • Utilities Included
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The Elks Apartments
Studio to 2 Bedroom Apartments

The Elks Apartments

609-613 Capitol Way SOlympia, WA 98501
  • Utilities Included

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Showing Results 1-14, Page 1 of 1

Cheapest Available Downtown Olympia Apartments for Rent

 

The cheapest available apartment rental in the Downtown Olympia area of Olympia, WA is a 1 Bed unit found at Stuart Place priced from $1,076. Cunningham Building has the second lowest priced unit, which is a Studio apartment currently listed from $1,190. Here are the most affordable Downtown Olympia apartments for rent in Olympia, WA:

Apartment ListingModel NameBed/BathPriced From
Stuart Places.4401BR,1BA$1,076
Cunningham Building0BR/1.0BAStudio,1BA$1,190
Boardwalk Senior Affordable ApartmentsB22BR,1BA$1,250
123-4thA9Studio,1BA$1,275
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$1,295

Best Value Apartments for Rent in Downtown Olympia, WA

As of November 30, 2025 the best value apartment in the Downtown Olympia area is the $2.53 price per square foot 1x1 Model at Capitol Crossing in the in the South Westside neighborhood starting from $1,795. The second greatest value Downtown Olympia apartment is the B3 Model at Boardwalk Senior Affordable Apartments starting at $1,576 with a $2.36 price per square foot in the South Westside neighborhood. Here is today’s list of the best values for Downtown Olympia apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Capitol Crossing1x11BR,1BA$2.53
Boardwalk Senior Affordable ApartmentsB32BR,1BA$2.36
401 Union0BR/1.0BAStudio ,1BA$2.51
Views on Fifth0BR/1.0BAStudio ,1BA$2.64
Stuart Places.4401BR,1BA$2.45
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$3.05
123-4thA9Studio ,1BA$3.24
Cunningham Building0BR/1.0BAStudio ,1BA$3.40

Getting Around the Downtown Olympia Neighborhood in Olympia, WA

Walk Score®

87 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

93 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

54 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Downtown Olympia Apartments

What is a cheap apartment in Downtown Olympia?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Olympia is under $1,695.

What is the price of a cheap apartment in Downtown Olympia?

The cheapest apartment in Downtown Olympia is Stuart Place which is listed at $1,076, while the average apartment in Downtown Olympia costs $2,160.

What types of apartments are the cheapest in Downtown Olympia?

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 4 regular apartments in Downtown Olympia that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.