Cheap Apartments for Rent in Pensacola, FL from $400 (148 Rentals)

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

property at 4400 Lillian Hwy

$750 - $950

Total Monthly Price

Total Monthly Price

Base Rent
$750 - $950
Total Monthly Price
$750 - $950

Studio, 1 Bath Home for Rent

Available Now

4400 Lillian Hwy

PensacolaFL32506

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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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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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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property at 890 Royce St

$1,295

2 Bedroom Rentals

Available Jul 22

890 Royce St

PensacolaFL32503
property at 824 Royce St

$1,295

2 Bedroom Rentals

Available Aug 7

824 Royce St

PensacolaFL32503
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Palafox Landing
2 to 3 Bedroom Apartments

Palafox Landing

7220 N Palafox StPensacola, FL 32503
  • Utilities Included

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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Pensacola, FL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Pensacola, FL

Pricing Updated: 06/05/2026

Current apartment rentals in the Pensacola, FL area range in price from $720 to $21,001 with an overall median price of $6,299. The three Pensacola neighborhoods with the lowest median rent pricing are West Pensacola at $1,350, North Central Pensacola at $1,078, and Brownsville South Pensacola at $1,150. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Pensacola Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
West Pensacola$1,600$1,3504
North Central Pensacola$1,644$1,07839
Brownsville South Pensacola$1,675$1,1503
South Pensacola$1,775$1,4002
Ferry Pass$1,805$720233
Airport NE Pensacola$1,810$720157
Ensley N Central Pensacola$1,825$739222
Travis Park Hunters Lake$1,849$72034
Northeast Pensacola$2,100$94083
Ensley$2,144$720254

Cheapest Available Pensacola Apartments for Rent

 

The cheapest available apartment rental in Pensacola, FL is a 1 Bed unit found at The Pines at Warrington in the Southwest Pensacola neighborhood priced from $825. West Park Village in the Southwest Pensacola 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 Pensacola apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Pines at WarringtonOne Bedroom One Bath1BR,1BA$825
West Park VillageStudioStudio,1BA$850
Willowbrook1x11BR,1BA$899
Alabaster Gardens - 55+ CommunityOne Bedroom1BR,1BA$919
Acasa Cordova Regency1 B1BR,1BA$940
Lillian Square Apartments1 Bedroom1BR,1BA$950
Marina SOL1x11BR,1BA$999
The LaurelA11BR,1BA$1,010
Bay Oaks Condominiums IThe Lagoon Upgraded1BR,1BA$1,015
The Landings at Tiger LilySPAZ1BR,1BA$1,037

Best Value Apartments for Rent in Pensacola, FL

As of June 05, 2026 the best value apartment in the Pensacola area is the $1.01 price per square foot 2x2 Model at Parkside Grand in the in the North Central Pensacola neighborhood starting from $1,690. The second greatest value Pensacola apartment is the 2 Bedroom Model at Pensacola Grand starting at $1,737 with a $1.15 price per square foot in the North Central Pensacola neighborhood. Here is today’s list of the best values for Pensacola apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parkside Grand2x22BR,2BA$1.01
Pensacola Grand2 Bedroom2BR,2BA$1.15
College Vue4BR/4BA - A4BR,4BA$0.56
Arbours at Ensley3X23BR,2BA$1.03
Three Angels Apartments3/2 Unit3BR,2BA$1.19
The Reserve at Pensacola2 Bedroom 1.5 Bathroom2BR,1.5BA$1.25
Legend at Pine Forest1 Bedroom Delux1BR,1BA$1.23
The Pines at WarringtonOne Bedroom One Bath1BR,1BA$1.03
Acasa Cordova Regency1 B1BR,1BA$1.21
Willowbrook1x11BR,1BA$1.21

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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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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Pensacola Overview

In a seaport city that connects to the gorgeous Gulf of Mexico, Pensacola apartments are considered by many to be among some of the most desirable in all of the Florida panhandle region. Boasting the 'Whitest Sand Beaches in the World', this seaside hotspot effortlessly combines amenities and cultural relevance in equal measure.

Why live in Pensacola, FL?

Home to a number of scenic state parks, including the heralded Blue Lagoon Park, apartments in Pensacola have been on the rise in popularity for years. With a large number of retail and tourism-based jobs in the vicinity, this growing hot spot is a great place for families as well as young professionals to call home. From the excitement of the thriving downtown district to the quaint beach side shops and eateries that cater to the visitors, Pensacola is a gem of the Florida scene.

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Pensacola, FL

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

Explore Pensacola, FL Rentals by Map

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Frequently Asked Questions about Cheap Pensacola Apartments

What is a cheap apartment in Pensacola?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Pensacola is under $1,037.

What is the price of a cheap apartment in Pensacola?

The cheapest apartment in Pensacola is The Pines at Warrington which is listed at $825, while the average apartment in Pensacola costs $6,299.

What types of apartments are the cheapest in Pensacola?

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 447 regular apartments in Pensacola that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Pensacola?

Cheap apartments in Pensacola have an average cost of $584 which is $5,715 cheaper than the average rent for all rentals in Pensacola.

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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Neighborhood and Market Insights: How to Choose the Right Area to Rent

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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.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

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I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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

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