Cheap Apartments for Rent in Phoenix, AZ from $500 (2,040 Rentals)

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

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Cielo Apartments
Rent Specials
$635 - $1,528
Total Monthly Price

Total Monthly Price

Base Rent
$493 - $1,386
Required Monthly Fees
$142

Total Monthly Price
$635 - $1,528
Studio to 2 Bedroom Apartments Available Now

Cielo Apartments

8222 N 19th AvePhoenix, AZ 85021
Corporate Housing
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Tides on 51st
Rent Specials
$650 - $1,100
Total Monthly Price

Total Monthly Price

Base Rent
$639 - $1,089
Required Monthly Fees
$11

Total Monthly Price
$650 - $1,100
Studio to 1 Bedroom Apartments Available Now

Tides on 51st

2634 N 51st AvePhoenix, AZ 85035
Affordability
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property at 5128 N 15th St

$677 - $1,274

Studio To 2 Bedroom Rentals

Available Now

5128 N 15th St

PhoenixAZ85014

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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Madera at Metro
Rent Specials
$699 - $1,750
Total Monthly Price

Total Monthly Price

Base Rent
$679 - $1,730
Required Monthly Fees
$20

Total Monthly Price
$699 - $1,750
Studio to 3 Bedroom Apartments Available Now

Madera at Metro

3161 W Cheryl DrPhoenix, AZ 85051
Affordability
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  • Customer Reviewed
  • 3D Tour

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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The Venue on Camelback Apartments
Rent Specials
$723 - $1,986
Total Monthly Price

Total Monthly Price

Base Rent
$622 - $1,885
Required Monthly Fees
$101

Total Monthly Price
$723 - $1,986
Studio to 2 Bedroom Apartments Available Now

The Venue on Camelback Apartments

1930 E Camelback RdPhoenix, AZ 85016
Corporate Housing
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  • Customer Reviewed
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Adara
Rent Specials
$731 - $3,461
Total Monthly Price

Total Monthly Price

Base Rent
$670 - $3,400
Required Monthly Fees
$61

Total Monthly Price
$731 - $3,461
Studio to 4 Bedroom Apartments Available Now

Adara

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

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.

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Summit on Thomas
$750 - $999
Total Monthly Price

Total Monthly Price

Base Rent
$475 - $724
Required Monthly Fees
$275

Total Monthly Price
$750 - $999
Studio to 1 Bedroom Apartments Available Now

Summit on Thomas

2735 E Thomas RdPhoenix, AZ 85016
Affordability
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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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The Urban
$775 - $1,786
Total Monthly Price

Total Monthly Price

Base Rent
$690 - $1,701
Required Monthly Fees
$85

Total Monthly Price
$775 - $1,786
Studio to 3 Bedroom Apartments Available Now

The Urban

3601 E McDowell RdPhoenix, AZ 85008
Corporate Housing
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Capri on Camelback
Rent Specials
$775 - $1,945
Total Monthly Price

Total Monthly Price

Base Rent
$736 - $1,906
Required Monthly Fees
$39

Total Monthly Price
$775 - $1,945
Studio to 2 Bedroom Apartments Available Now

Capri on Camelback

5115 N 40th StPhoenix, AZ 85018
Corporate Housing
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Stonybrook Apartments
Rent Specials
$790 - $2,908
Total Monthly Price

Total Monthly Price

Base Rent
$783 - $2,901
Required Monthly Fees
$7

Total Monthly Price
$790 - $2,908
1 to 2 Bedroom Apartments Available Now

Stonybrook Apartments

6441 W McDowell RdPhoenix, AZ 85035
Furnished
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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

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Written By:
Trey Huguley
Director, Product Marketing

Cheapest Neighborhoods for Apartments in Phoenix, AZ

Pricing Updated: 02/11/2026

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
The Heart of Glendale$1,687$70026
Capitol$1,772$89510
North Mountain$1,790$82813
Bethany Square Neighborhood$1,982$70021
Orchard Glen$2,035$70022
Sweetwater Estates$2,039$1,5758
Gerardo Park$2,047$69932
64th Drive Sunrise$2,055$89825
West Plaza Estates$2,072$92127
Ocotillo Disctrict$2,098$99520

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 ListingModel NameBed/BathPriced From
LUMINA ON 19th APARTMENTSS2Studio,1BA$623
Cielo ApartmentsStudioStudio,1BA$635
Legacy Crossing I & IILG2 3 Bedroom3BR,2BA$639
Tides on 51stStudioStudio,1BA$650
Collins off Colter*S1 - Phase lStudio,1BA$678
Centerline on Glendale Phase IIB12BR,1BA$694
Aspire West Phoenix2B01CStudio,1BA$695
Chateau Gardens Apartments0x1Studio,1BA$699
Madera at MetroStudioStudio,1BA$699
Eclipse ApartmentsStudioStudio,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
Nine20 TempeD1 PHPV4BR,4BA$0.73
3233 W Melvin St, Unit 23233 W Melvin St2BR,1BA$0.79
Legacy Crossing I & II3 bedroom3BR,2BA$0.97
Grandfamilies PlaceThree Bedroom x Two Bathroom3BR,2BA$1.07
Villas at PapagoTwo Bedroom1BR,1BA$0.88
62 W Culver StOne bed1BR,1BA$1.00
U Apartments @ Melrose2x1 B1 R2BR,1BA$1.04
Park LeeTwo-Bedroom2BR,1BA$1.01
Sahuaro West ApartmentsTwo Bedroom, One Bath B2BR,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.

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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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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

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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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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!

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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

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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).

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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.

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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.

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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

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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.

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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.

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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.