
Cheap Apartments for Rent in Phoenix, AZ from $500 (2,040 Rentals)
Search the lowest-cost Apartments available for rent right now in Phoenix.


Total Monthly Price
Cielo Apartments

Vista Village on Van Buren

9631 N 12th Ave

Coral Gardens

Total Monthly Price
Tides on 51st

2524 E Willetta St

1845 E Monroe St

5128 N 15th St

Collins off Colter*
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.

Aspire West Phoenix

Total Monthly Price
Madera at Metro

Eclipse Apartments

Alta Vista Village

North Mountain Apartments

Towers on 19th

Spectra Midtown

Park Lee

Victory Place I-IV

Ascent on Broadway
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.

Total Monthly Price
The Venue on Camelback Apartments

Sunrise on 35th

The Studio on 12th Street

Total Monthly Price
Adara

Presidio North Apartments

2025 West Apartment Homes

Tides on 27th

Biltmore on the Lake

Kinley at Biltmore

The Union on 28th
New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options
Find the Best Phoenix Neighborhoods to Rent and Essential Tips on Getting Around Town, the City's Unique History, Must-try Local Food, and the Outdoor Culture.

The Residences at Camelback West

1739 E Cheery Lynn Rd

2936 E Indian School Rd

Total Monthly Price
Summit on Thomas

Prados Apartments at Arcadia

The Summit Apartments

West 35th Apartments

Santa Fe Springs

Augustine at Glendale

Park Terrace
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.

Total Monthly Price
The Urban

Total Monthly Price
Capri on Camelback

1918 E Adams St, Unit 4

Revive 25 Apartments

Total Monthly Price
Stonybrook Apartments

Park Alta

Sera Bella

Amara Apartments

Resort on 27th

Escarlata 29
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.
Phoenix, AZ Local Guide

How much does it cost to rent an apartment in Phoenix?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Phoenix Studio Apartments | $1,341 | $599 | $4,063 |
| Cheap Phoenix 1 Bedroom Apartments | $1,573 | $675 | $10,000+ |
| Cheap Phoenix 2 Bedroom Apartments | $1,921 | $649 | $10,000+ |
| Cheap Phoenix 3 Bedroom Apartments | $2,464 | $675 | $10,000+ |
| Cheap Phoenix 4 Bedroom Apartments | $2,753 | $750 | $10,000+ |
| Phoenix 5 Bedroom Apartments | $7,319 | $999 | $10,000+ |
Browse Top Apartments in Phoenix
See all Apartments in PhoenixExplore Phoenix

Phoenix, AZ Local Guide

- Phoenix Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Phoenix, AZ
Pricing Updated: 02/11/2026Current apartment rentals in the Phoenix, AZ area range in price from $599 to $75,000 with an overall median price of $6,947. The three Phoenix neighborhoods with the lowest median rent pricing are The Heart of Glendale at $700, Capitol at $895, and North Mountain at $828. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Phoenix Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| The Heart of Glendale | $1,687 | $700 | 26 |
| Capitol | $1,772 | $895 | 10 |
| North Mountain | $1,790 | $828 | 13 |
| Bethany Square Neighborhood | $1,982 | $700 | 21 |
| Orchard Glen | $2,035 | $700 | 22 |
| Sweetwater Estates | $2,039 | $1,575 | 8 |
| Gerardo Park | $2,047 | $699 | 32 |
| 64th Drive Sunrise | $2,055 | $898 | 25 |
| West Plaza Estates | $2,072 | $921 | 27 |
| Ocotillo Disctrict | $2,098 | $995 | 20 |
Cheapest Available Phoenix Apartments for Rent
 The cheapest available apartment rental in Phoenix, AZ is a Studio unit found at LUMINA ON 19th APARTMENTS in the North Phoenix neighborhood priced from $623. Cielo Apartments in the North Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $635. Here is today’s list of the most affordable Phoenix apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| LUMINA ON 19th APARTMENTS | S2 | Studio,1BA | $623 |
| Cielo Apartments | Studio | Studio,1BA | $635 |
| Legacy Crossing I & II | LG2 3 Bedroom | 3BR,2BA | $639 |
| Tides on 51st | Studio | Studio,1BA | $650 |
| Collins off Colter* | S1 - Phase l | Studio,1BA | $678 |
| Centerline on Glendale Phase II | B1 | 2BR,1BA | $694 |
| Aspire West Phoenix | 2B01C | Studio,1BA | $695 |
| Chateau Gardens Apartments | 0x1 | Studio,1BA | $699 |
| Madera at Metro | Studio | Studio,1BA | $699 |
| Eclipse Apartments | Studio | Studio,1BA | $699 |
Best Value Apartments for Rent in Phoenix, AZ
As of February 12, 2026 the best value apartment in the Phoenix area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Phoenix apartment is the D1 PHPV Model at Nine20 Tempe starting at $1,059 with a $0.73 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Lofts on 8th | Student Housing | Furnished Townhome | 4BR,4.5BA | $0.53 |
| Nine20 Tempe | D1 PHPV | 4BR,4BA | $0.73 |
| 3233 W Melvin St, Unit 2 | 3233 W Melvin St | 2BR,1BA | $0.79 |
| Legacy Crossing I & II | 3 bedroom | 3BR,2BA | $0.97 |
| Grandfamilies Place | Three Bedroom x Two Bathroom | 3BR,2BA | $1.07 |
| Villas at Papago | Two Bedroom | 1BR,1BA | $0.88 |
| 62 W Culver St | One bed | 1BR,1BA | $1.00 |
| U Apartments @ Melrose | 2x1 B1 R | 2BR,1BA | $1.04 |
| Park Lee | Two-Bedroom | 2BR,1BA | $1.01 |
| Sahuaro West Apartments | Two Bedroom, One Bath B | 2BR,1BA | $1.12 |
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 ArticleDon'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 ArticleThe 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.
Read ArticleCash 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 ArticleExpert'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 ArticleQuick 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.
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
See the most popular apartments and homes in Phoenix, AZ
Frequently Asked Questions about Cheap Phoenix Apartments
What is the Cheapest Studio apartment in Phoenix?
Currently the most affordable Cheap Studio Apartment in Phoenix is at LUMINA ON 19th APARTMENTS listed at $623.
How much is rent for a Cheap One Bedroom Phoenix Apartment?
The lowest price for a Cheap One Bedroom Phoenix Apartment is $647 at Legacy Crossing I & II.
What is the lowest price for a Cheap Two Bedroom Phoenix Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Phoenix is starting from $694 at Centerline on Glendale Phase II.
What is the most affordable Phoenix Three Bedroom Apartment?
The best deal on a cheap Phoenix Three Bedroom Apartment rental is at Legacy Crossing I & II and starts from $639.
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

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).

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.

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.

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

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.

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.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.