Cheap Apartments for Rent in the Downtown Olympia Neighborhood of Olympia, WA from $1,000 (24 Rentals)

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

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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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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Capitol Terrace
Studio to 2 Bedroom Apartments

Capitol Terrace

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

Elks Apartments

609-613 Capitol Way SOlympia, WA 98501
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The Madrone
Studio to 2 Bedroom Apartments

The Madrone

120 Water St NWOlympia, WA 98501

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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Showing Results 1-24, 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 Studio unit found at Cunningham Building priced from $1,025. Boardwalk Senior Affordable Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,099. Here are the most affordable Downtown Olympia apartments for rent in Olympia, WA:

Apartment ListingModel NameBed/BathPriced From
Cunningham Building0BR/1.0BAStudio,1BA$1,025
Boardwalk Senior Affordable ApartmentsA41BR,1BA$1,099
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$1,100
Stuart Place1.6451BR,1BA$1,153
Dawcrest Apartments1BR / 1 BA1BR,1BA$1,200

Best Value Apartments for Rent in Downtown Olympia, WA

As of June 14, 2026 the best value apartment in the Downtown Olympia area is the $2.22 price per square foot 2x2 Model at Capitol Crossing in the in the Wellington West neighborhood starting from $1,950. The second greatest value Downtown Olympia apartment is the 1BR / 1 BA Model at Dawcrest Apartments starting at $1,200 with a $1.71 price per square foot in the Wellington West 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 Crossing2x22BR,2BA$2.22
Dawcrest Apartments1BR / 1 BA1BR,1BA$1.71
Westman Mills1x11BR,1BA$2.41
Stuart Place1.6211BR,1BA$1.86
Brentwood Apartmentsone bedroom1BR,1BA$1.94
401 Union0BR/1.0BAStudio ,1BA$2.51
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$2.20
The Malt House Apartment Homes0BR/1.0BAStudio ,1BA$2.95
123-4thA9Studio ,1BA$3.08
Cunningham Building0BR/1.0BAStudio ,1BA$2.93

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 $1,295.

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

The cheapest apartment in Downtown Olympia is Boardwalk Senior Affordable Apartments which is listed at $1,099, while the average apartment in Downtown Olympia costs $2,325.

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 11 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

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

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.

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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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.