Cheap Apartments for Rent in the Downtown Olympia Neighborhood of Olympia, WA from $900 (17 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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Elks Apartments
Studio to 2 Bedroom Apartments

Elks Apartments

609-613 Capitol Way SOlympia, WA 98501
Showing Results 1-17, 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. Brentwood 509 Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,100. Here are the most affordable Downtown Olympia apartments for rent in Olympia, WA:

Apartment ListingModel NameBed/BathPriced From
Stuart Places.4401BR,1BA$1,076
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$1,100
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$1,100
Cunningham Building0BR/1.0BAStudio,1BA$1,190
Boardwalk Senior Affordable ApartmentsA41BR,1BA$1,199

Best Value Apartments for Rent in Downtown Olympia, WA

As of April 28, 2026 the best value apartment in the Downtown Olympia area is the $2.39 price per square foot 1x1 Model at Capitol Crossing in the in the South Westside neighborhood starting from $1,695. 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 Crossing1x11BR,1BA$2.39
Dawcrest Apartments1BR / 1 BA1BR,1BA$1.71
Brentwood Apartmentsone bedroom1BR,1BA$1.94
401 Union0BR/1.0BAStudio ,1BA$2.51
Boardwalk Senior Affordable ApartmentsA51BR,1BA$2.47
Brentwood 509 Apartments1 BR/ 1 BA1BR,1BA$2.20
Stuart Places.4401BR,1BA$2.45
The Malt House Apartment Homes0BR/1.0BAStudio ,1BA$2.95
Westman MillsStudioStudio ,1BA$2.91
Cedar Pointe Apartments1 Bed / 1 Bath1BR,1BA$2.59

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 $1,250.

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 10 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 Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.