Cheap Apartments for Rent in Phoenix, AZ from $500 (1,900 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article
close
View Me
Crosstown Phoenix
Rent Specials
$689 - $1,610
Total Monthly Price

Total Monthly Price

Base Rent
$689 - $1,610
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Crosstown Phoenix

1601 W Camelback RdPhoenix, AZ 85015
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Adara
Rent Specials
$692 - $2,962
Total Monthly Price

Total Monthly Price

Base Rent
$692 - $2,962
Total Monthly Price
Varies
Studio to 4 Bedroom Apartments Available Now

Adara

888 N 4th StPhoenix, AZ 85004
Student Housing
  • Verified
  • Customer Reviewed
  • Smoke Free

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.

Read Article
close
View Me
Collins off Colter*
Rent Specials
$711 - $2,028
Total Monthly Price

Total Monthly Price

Base Rent
$711 - $2,028
Total Monthly Price
$711 - $2,028
Studio to 3 Bedroom Apartments Available Now

Collins off Colter*

5128 N 15th StPhoenix, AZ 85014
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article

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.

Read Article
close
View Me
Nightingale on 25th
Rent Specials
$775 - $1,300
Total Monthly Price

Total Monthly Price

Base Rent
$775 - $1,300
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Nightingale on 25th

15620 N 25th AvePhoenix, AZ 85023
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
North Mountain Village
Rent Specials
$793 - $1,565
Total Monthly Price

Total Monthly Price

Base Rent
$793 - $1,565
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

North Mountain Village

3333 W Thunderbird RdPhoenix, AZ 85053
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Cielo Apartments
Rent Specials
$794 - $1,880
Total Monthly Price

Total Monthly Price

Base Rent
$794 - $1,880
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Cielo Apartments

8222 N 19th AvePhoenix, AZ 85021
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
Showing Results 1-50, Page 1 of 38

Phoenix, AZ Local Guide

Photo of Trey Huguley - Director, Product Marketing
Written By:
Trey Huguley
Director, Product Marketing

Cheapest Neighborhoods for Apartments in Phoenix, AZ

Pricing Updated: 06/27/2026

Current apartment rentals in the Phoenix, AZ area range in price from $507 to $30,299 with an overall median price of $5,479. The three Phoenix neighborhoods with the lowest median rent pricing are N East Mesa Gateway Airport at $1,000, Sherwood at $925, and Reed Park at $925. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Phoenix Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
N East Mesa Gateway Airport$1,300$1,00032
Sherwood$1,338$92552
Reed Park$1,349$92552
North Center Street$1,352$94711
Colony by the Green$1,372$84933
Fairway North$1,372$9478
McAfee Heights$1,375$92527
Pleasant Shadows$1,376$99510
Hawthorne$1,402$88843
Royal Palms Sherwood$1,446$88878

Cheapest Available Phoenix Apartments for Rent

 

The cheapest available apartment rental in Phoenix, AZ is a 1 Bed unit found at Garfield Terrace in the South Phoenix neighborhood priced from $507. Residence at Tolleson in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $599. Here is today’s list of the most affordable Phoenix apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Garfield TerraceGarfield Terrace One Bedroom1BR,1BA$507
Residence at TollesonStudioStudio,1BA$599
2025 West Apartment HomesS1Studio,1BA$630
South Summit EstatesTwo Bedroom One Bathroom2BR,1BA$631
6738 N 55th Dr1 Beds, 1 Baths1BR,1BA$650
Sunrise VistaStudioStudio,1BA$650
Rise at the PreserveS1 PlatinumStudio,1BA$670
Rise ParksideS1 GoldStudio,1BA$670
Sunrise on 35thStudioStudio,1BA$675
Legacy Crossing I & IILG2 2 Bedroom2BR,2BA$688

Best Value Apartments for Rent in Phoenix, AZ

As of June 28, 2026 the best value apartment in the Phoenix area is the $0.43 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $799. The second greatest value Phoenix apartment is the D3 Model at Canvas starting at $1,249 with a $0.92 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Phoenix apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.43
CanvasD34BR,4BA$0.92
The District on Apache3x3 Luxe3BR,3BA$0.89
Revive 25 ApartmentsTwo Bedroom2BR,2BA$0.86
Topaz PointeTopaz Pointe 3 Bedroom3BR,2BA$1.00
Villas at PapagoTwo Bedroom Villas2BR,1BA$0.95
McCarty on Monroe1 Bedroom (C)1BR,1BA$0.99
Windrose Villas ApartmentsTwo Bedroom, One Bath2BR,1BA$0.94
6738 N 55th Dr1 Beds, 1 Baths1BR,1BA$0.81
Garfield TerraceGarfield Terrace One Bedroom1BR,1BA$0.78

A Phoenix Expert's Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Working at a top Phoenix employer? Get the inside scoop on renting apartments in nearby neighborhoods like Encanto, Coronado, Riverside, and South Mountain Village for a great life and easy commute.

Read Article
Decorative image

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.

Read Article
Decorative image

Expert's Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

A Local Experts Guide to The 10 Best Neighborhoods Near Universities and Colleges in the Phoenix metro area for affordable living. Find your perfect Phoenix apartment, condo, or rental home today at ApartmentHomeliving.com

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Phoenix Overview

Phoenix is the capital of Arizona, but there is a rich and diverse cultural history to this city that extends well beyond the local government. Phoenix is the home to many businesses, artists, and scholars and so much more that make it a wonderful place to call home. Combine all of that with a wide variety of superb options of apartments for rent and rental homes in the Phoenix metro area and you have a recipe for a truly amazing place to live.

Why live in Phoenix, AZ?

Phoenix is one of the fastest growing cities in the United States, with new companies and jobs arriving almost daily. The warm weather and relatively low cost of living has made the area very attractive to everyone from young professionals looking for their first job to retirees looking to take advantage of the mild winters and low cost of living while still having all of the advantages of living in a major city. Many people are flocking to the area to take advantage of job opportunities with companies such as Avnet, Mesa Air Group, and a variety of large hospitals and research centers.

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

Explore Phoenix, AZ Rentals by Map

Decorative image of map

See the most popular apartments and homes in Phoenix, AZ

View Map
Phoenix, AZ Apartments Map
View Map
Phoenix, AZ Rental Homes Map

Frequently Asked Questions about Cheap Phoenix Apartments

What is a cheap apartment in Phoenix?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Phoenix is under $688.

What is the price of a cheap apartment in Phoenix?

The cheapest apartment in Phoenix is Garfield Terrace which is listed at $507, while the average apartment in Phoenix costs $5,479.

What types of apartments are the cheapest in Phoenix?

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 36,705 regular apartments in Phoenix 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 Phoenix?

Cheap apartments in Phoenix have an average cost of $595 which is $4,884 cheaper than the average rent for all rentals in Phoenix.

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.

Helpful Local Expert Guides

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

decorative image for Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters article

Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

Written by: Andrew Jollett

I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.

decorative image for A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon article

A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Written by: Andrew Jollett

Phoenix has long been one of the fastest-growing metros in the United States. When I think about how much I’ve seen it change over the years, it’s no wonder so many young professionals flock to the area every year.

decorative image for New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options article

New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Written by: Andrew Jollett

Hi everyone! My name is Andrew, and I’m your local ApartmentHomeLiving.com guide for the greater Phoenix area. Today, I want to take you on an insider’s tour of the area.

Articles, How-To's, and Tips

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.