Cheap Apartments for Rent in the Downtown Neighborhood of Olympia, WA from $1,000 (33 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown 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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property at 1609 7th Ave SE

$1,547

Total Monthly Price

Total Monthly Price

Base Rent
$1,547
Total Monthly Price
$1,547

Studio, 1 Bath Home for Rent

Available Now

1609 7th Ave SE, Unit B

1609 7th Ave SE
OlympiaWA98501

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

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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Timbers West
1 to 2 Bedroom Apartments

Timbers West

1714 Evergreen Park Ct SWOlympia, WA 98502
  • 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 Ridge Apartments
1 to 2 Bedroom Apartments

The Ridge Apartments

2008 Evergreen Park Dr SWOlympia, WA 98502
  • Utilities Included
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The Madrone
Studio to 2 Bedroom Apartments

The Madrone

120 Water St NWOlympia, WA 98501

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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Showing Results 1-33, Page 1 of 1

Downtown, Olympia, WA Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown area of Olympia, WA is a Studio unit found at The Cunningham Apartments 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 apartments for rent in Olympia, WA:

Apartment ListingModel NameBed/BathPriced From
The Cunningham Apartments0BR/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
Heritage Park Apartments1 Bedroom1BR,1BA$1,200
Dawcrest Apartments1BR / 1 BA1BR,1BA$1,200
Brentwood Apartmentsone bedroom1BR,1BA$1,200
123-4th ApartmentsA5Studio,1BA$1,205
Market FlatsStudioStudio,1BA$1,250
The Malt House Apartment Homes0BR/1.0BAStudio,1BA$1,275

Best Value Apartments for Rent in Downtown, WA

As of June 11, 2026 the best value apartment in the Downtown 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 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 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
Heritage Park Apartments1 Bedroom1BR,1BA$1.85
Capitol House ApartmentsUnit #1021BR,1BA$2.04
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 Cunningham Apartments0BR/1.0BAStudio ,1BA$2.93

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Downtown, Olympia, WA

Ranked #32

Among cities in Washington for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Apartments

What is a cheap apartment in Downtown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown is under $1,275.

What is the price of a cheap apartment in Downtown?

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

What types of apartments are the cheapest in Downtown?

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 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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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.

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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.