Cheap Apartments for Rent in Palmer, AK from $400 (57 Rentals)

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Search the lowest-cost Apartments available for rent right now in Palmer.

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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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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Aspen Pines
1 to 4 Bedroom Apartments

Aspen Pines

413 E Aspen AveWasilla, AK 99654
  • Utilities Included
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Continental
Studio to 2 Bedroom Apartments

Continental

3321 Eureka StAnchorage, AK 99503
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Castle
Studio to 2 Bedroom Apartments

Castle

915 W 27th AveAnchorage, AK 99503
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Susitna Ridge
Studio to 2 Bedroom Apartments

Susitna Ridge

1601 Medfra StAnchorage, AK 99501
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The Outlook Apartments
Studio to 2 Bedroom Apartments

The Outlook Apartments

234 E 15th AveAnchorage, AK 99501
Corporate Housing
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City View
Studio to 2 Bedroom Apartments

City View

230 W 14th AveAnchorage, AK 99501
Corporate Housing
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Terrace on the Lake
Studio to 2 Bedroom Apartments

Terrace on the Lake

2421 Bentzen CirAnchorage, AK 99517
Corporate Housing

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Amber Ridge
1 to 2 Bedroom Apartments

Amber Ridge

3235 E Cottle Loop RdWasilla, AK 99654
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Century Plaza
Studio to 2 Bedroom Apartments

Century Plaza

124 E 3rd AveAnchorage, AK 99501
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Taiga
1 to 3 Bedroom Apartments

Taiga

423 W 22nd AveAnchorage, AK 99503
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Brighton Woods
1 to 2 Bedroom Apartments

Brighton Woods

1204 Norman StAnchorage, AK 99504
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Timber Ridge
1 to 2 Bedroom Apartments

Timber Ridge

13900 Old Glenn HwyEagle River, AK 99577

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Palmer, AK Local Guide

Cheapest Neighborhoods for Apartments in Palmer, AK

Pricing Updated: 04/25/2026

Current apartment rentals in the Palmer, AK area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Palmer Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Outlying Matanuska Susitna Borough$5,000$60098

Cheapest Available Palmer Apartments for Rent and Nearby

 

The cheapest available apartment rental in Palmer, AK is a Studio unit found at Loussac Sogn in the Government Hill neighborhood priced from $700. Glenwood Apartments in the Outlying Matanuska Susitna Borough neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $850. Here is today’s list of the most affordable Palmer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Loussac SognStudio 1Studio,1BA$700
Glenwood ApartmentsStudio, 1 BathroomStudio,1BA$850
Merrill CrossingStudioStudio,1BA$900
Eagle Ridge Townhomes2 Beds, 2 baths2BR,2BA$925
Panoramic ViewStudioStudio,1BA$975
ContinentalStudioStudio,1BA$1,050
CastleStudio X smallStudio,1BA$1,060
College ViewStudioStudio,1BA$1,170
The Club at Eagle PointEagles Nest1BR,1BA$1,179
Northwind Apartments2nd Floor 1 bedroom1BR,1BA$1,250

Best Value Apartments for Rent in Palmer, AK and Nearby

As of April 25, 2026 the best value apartment in the Palmer area is the $1.86 price per square foot 2x2 B Model at Admirals Cove in the in the Downtown Anchorage neighborhood starting from $2,045. The second greatest value Palmer apartment is the 3 bed / 1 bath Model at 1101 Eagle St starting at $1,550 with a $1.59 price per square foot in the Government Hill neighborhood. Here is today’s list of the best values for Palmer apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Admirals Cove2x2 B2BR,2BA$1.86
1101 Eagle St3 bed / 1 bath3BR,1BA$1.59
Terrace on the LakeArctic Tern2BR,2BA$2.01
Town Square Manor Apartments2x2 9242BR,2BA$1.94
Eagle Ridge Townhomes2 Beds, 2 baths2BR,2BA$1.07
Chester Park Estate2BD/1BA- Floorplan B2BR,1BA$1.74
Northwind Apartments2nd Floor 1 bedroom1BR,1BA$1.63
TaigaOne Bedroom1BR,1BA$2.03
Central Park Apartments1 bedroom Floor Plan C1BR,1BA$2.05
Glenwood ApartmentsStudio, 1 BathroomStudio ,1BA$1.70

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Best Local Schools in
Palmer, AK

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Palmer, AK Rentals by Map

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See the most popular apartments and homes in Palmer, AK

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Frequently Asked Questions about Cheap Palmer Apartments

What is a cheap apartment in Palmer?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Palmer is under $1,250.

What is the price of a cheap apartment in Palmer?

The cheapest apartment in Palmer is Castle which is listed at $1,110, while the average apartment in Palmer costs $5,000.

What types of apartments are the cheapest in Palmer?

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 Palmer 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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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.

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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.

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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.

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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.