Cheap Apartments for Rent in the Downtown Olympia Neighborhood of Olympia, WA from $1,000 (22 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

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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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Market Flats
Studio to 2 Bedroom Apartments

Market Flats

310 Capitol WayOlympia, WA 98501
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Elks Apartments
Studio to 2 Bedroom Apartments

Elks Apartments

609-613 Capitol Way SOlympia, WA 98501
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Campus Lofts
Studio to 3 Bedroom Apartments

Campus Lofts

510-512 12th Ave SEOlympia, WA 98501
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The Madrone
Studio to 2 Bedroom Apartments

The Madrone

120 Water St NWOlympia, WA 98501

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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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property at 5406 Washington St SE

$3,000

Total Monthly Price

Total Monthly Price

Base Rent
$3,000
Total Monthly Price
$3,000

3 Bedroom, 2.5 Bath Home for Rent

Available Now

5406 Washington St SE

OlympiaWA98501
Showing Results 1-22, 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. 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
Stuart Places.4401BR,1BA$1,076
Boardwalk Senior Affordable ApartmentsA41BR,1BA$1,099
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$1,100
Dawcrest Apartments1BR / 1 BA1BR,1BA$1,200
Brentwood Apartmentsone bedroom1BR,1BA$1,200

Best Value Apartments for Rent in Downtown Olympia, WA

As of July 31, 2026 the best value apartment in the Downtown Olympia area is the $2.32 price per square foot 1x1 Model at Capitol Crossing in the in the Wellington West neighborhood starting from $1,650. The second greatest value Downtown Olympia apartment is the 1x1 Middle Model at Capitol Steps starting at $1,575 with a $2.23 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 Crossing1x11BR,1BA$2.32
Capitol Steps1x1 Middle1BR,1BA$2.23
Dawcrest Apartments1BR / 1 BA1BR,1BA$1.71
Westman Mills1x11BR,1BA$2.41
Brentwood Apartmentsone bedroom1BR,1BA$1.94
401 Union0BR/1.0BAStudio ,1BA$2.51
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$2.20
Boardwalk Senior Affordable ApartmentsA31BR,1BA$2.90
Stuart Places.4401BR,1BA$2.45
123-4thA9Studio ,1BA$3.05

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 $1,595.

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 $2,400.

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 15 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

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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.

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

Written by: Robin Stewart

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.

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.