Cheap Apartments for Rent in Panama, OK from $400 (32 Rentals)

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

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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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Tara Gardens
1 to 2 Bedroom Apartments

Tara Gardens

1615 S 22nd StFort Smith, AR 72901
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601 Xavier St
1 Bedroom Apartments

601 Xavier St

601 Xavier StFort Smith, AR 72901

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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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Pine View Apartments
1 Bedroom Apartments

Pine View Apartments

5202 Towson AveFort Smith, AR 72901
  • Utilities Included
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Southbrooke Apartments
2 Bedroom Apartments

Southbrooke Apartments

8201 Highway 271 SFort Smith, AR 72908
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St. Andrews Apartments
1 to 2 Bedroom Apartments

St. Andrews Apartments

4901 St Andrews WayFort Smith, AR 72903
  • Utilities Included

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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Panama, OK Local Guide

Cheapest Available Panama Apartments for Rent and Nearby

 

The cheapest available apartment rental in Panama, OK is a 1 Bed unit found at The Flats @ 5900 in the Sunnymede neighborhood priced from $600. Phoenix Village in the Cavanaugh neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here is today’s list of the most affordable Panama apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Flats @ 59001 bed 1 bath1BR,1BA$600
Phoenix Village1.11BR,1BA$625
Pike PlaceStandard1BR,1BA$630
The Bluffs @ CentralWelcome to your Convenient and Comfortable 1 be...1BR,1BA$650
Aspen Heights1 Bed, 1 Bath (Silver)1BR,1BA$675
The Links at Fort SmithCustom1BR,1BA$685
Southbrooke ApartmentsSB 2 beds 2 bath2BR,1BA$700
Forrest Brook Apartments1 bedroom, 1 bathroom1BR,1BA$700
Greystone Apartments2x12BR,1BA$725
Lakeside Townhomes1 bedroom 800sqft1BR,1BA$725

Best Value Apartments for Rent in Panama, OK and Nearby

As of July 31, 2025 the best value apartment in the Panama area is the $0.89 price per square foot 2 Bed 2 Bath 2 Car Garage Model at Willowbrook Duplexes in the in the Cavanaugh neighborhood starting from $1,199. The second greatest value Panama apartment is the North Pointe I (SF4) Model at CompassRCG Management starting at $1,022 with a $0.77 price per square foot in the Sunnymede neighborhood. Here is today’s list of the best values for Panama apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Willowbrook Duplexes2 Bed 2 Bath 2 Car Garage2BR,2BA$0.89
CompassRCG ManagementNorth Pointe I (SF4)4BR,2BA$0.77
Addison Place Apartments2X22BR,2BA$0.92
Glen Oaks2 Bedrooms Availble Now!2BR,2BA$0.92
Crown Ridge ApartmentsThe Grand Marquis2BR,2BA$0.90
Southpoint Apartments2bd/2ba- B Plan Upstairs2BR,2BA$0.86
Magnolia Place: 1 & 2 Bedroom ApartmentsMagnolia Place 2 Bedroom2BR,1.5BA$0.93
Southbrooke ApartmentsSB 2 beds 1 bath2BR,1BA$0.78
Lakeside Townhomes1 bedroom 800sqft1BR,1BA$0.91
The Flats @ 59001 bed 1 bath1BR,1BA$0.92

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Best Local Schools in
Panama, OK

School data provided by Great Schools

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Getting Around Panama, OK

Walk Score®

22 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

30 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Panama Apartments

How much is rent for a Cheap One Bedroom Panama Apartment?

The lowest price for a Cheap One Bedroom Panama Apartment is $600 at The Flats @ 5900.

What is the lowest price for a Cheap Two Bedroom Panama Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Panama is starting from $700 at Pike Place.

What is the most affordable Panama Three Bedroom Apartment?

The best deal on a cheap Panama Three Bedroom Apartment rental is at CompassRCG Management and starts from $912.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.