Cheap Apartments for Rent in the Downtown Olympia Neighborhood of Olympia, WA from $800 (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 Studio unit found at Views on Fifth priced from $899. Stuart Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,076. Here are the most affordable Downtown Olympia apartments for rent in Olympia, WA:

Apartment ListingModel NameBed/BathPriced From
Views on Fifth0BR/1.0BAStudio,1BA$899
Stuart Places.4401BR,1BA$1,076
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$1,100
Cunningham Building0BR/1.0BAStudio,1BA$1,190
Brentwood Apartmentsone bedroom1BR,1BA$1,200

Best Value Apartments for Rent in Downtown Olympia, WA

As of January 23, 2026 the best value apartment in the Downtown Olympia area is the $3.28 price per square foot 1BR/1.5BA Model at Views on Fifth in the in the Wellington West neighborhood starting from $3,150. The second greatest value Downtown Olympia apartment is the Studio Model at Capitol Crossing starting at $1,622 with a $2.50 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.
Views on Fifth1BR/1.5BA1BR,1.5BA$3.28
Capitol CrossingStudioStudio ,1BA$2.50
Brentwood Apartmentsone bedroom1BR,1BA$1.94
401 Union0BR/1.0BAStudio ,1BA$2.51
Boardwalk Senior Affordable ApartmentsA31BR,1BA$2.75
Stuart Places.4401BR,1BA$2.45
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$2.59
123-4thA9Studio ,1BA$3.24
Cunningham Building0BR/1.0BAStudio ,1BA$3.40

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 $1,622.

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 $2,175.

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 8 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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.