Cheap Apartments for Rent in Phoenix, AZ from $400 (1,775 Rentals)

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

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property at 2032 W Adams St

2032 W Adams St

PhoenixAZ85009

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Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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Phoenix, AZ Local Guide

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Written By:
Trey Huguley
Director, Product Marketing

Cheapest Neighborhoods for Apartments in Phoenix, AZ

Pricing Updated: 06/22/2025

Current apartment rentals in the Phoenix, AZ area range in price from $420 to $27,300 with an overall median price of $4,629. The three Phoenix neighborhoods with the lowest median rent pricing are Arabian Park at $1,131, Cave Creek at $1,180, and Industrial Districts at $720. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Phoenix Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Arabian Park$1,609$1,13144
Cave Creek$1,617$1,18015
Industrial Districts$1,666$72013
University Heights$1,705$715661
Grand$1,728$75034
Rothway Acre City Pacific Place$1,741$420113
East Side Phoenix$1,750$42077
Broadmor$1,756$675263
Hudson Manor$1,756$715621
Jen Tilly Terrace$1,756$715560

Cheapest Available Phoenix Apartments for Rent

 

The cheapest available apartment rental in Phoenix, AZ is a Studio unit found at Coral Gardens in the South Phoenix neighborhood priced from $420. Legacy Crossing I & II in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $647. Here is today’s list of the most affordable Phoenix apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Coral GardensStudioStudio,1BA$420
Legacy Crossing I & II1 bedroom1BR,1BA$647
Tides on 51st0BD, 1BTHStudio,1BA$663
Aspire West PhoenixStudioStudio,1BA$666
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$670
Crosstown Phoenixe10a - WestStudio,1BA$693
Biltmore on the Lakest1cStudio,1BA$699
AdaraD24BR,4BA$699
Towers on 19thThe SunriseStudio,1BA$700
La Buena Vida1 Bed, 1 bath1BR,1BA$705

Best Value Apartments for Rent in Phoenix, AZ

As of June 22, 2025 the best value apartment in the Phoenix area is the $1.00 price per square foot Main House + 2br Casita Model at 5418 E Yolantha St in the in the North Scottsdale neighborhood starting from $3,000. The second greatest value Phoenix apartment is the one bed room Model at Craig Byrd starting at $1,000 with a $0.71 price per square foot in the Hesper Knoll at Palm Valley 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.
5418 E Yolantha StMain House + 2br Casita5BR,3.5BA$1.00
Craig Byrdone bed room1BR,1BA$0.71
Villas at PapagoTwo Bedroom2BR,1BA$1.08
The Cove2 Bedroom x 1 Bath2BR,1BA$1.04
Paradise Palms I1 Bedroom1BR,1BA$1.06
Legacy Crossing I & II1 bedroom1BR,1BA$0.93
McCarty on Monroe1 Bedroom (A)1BR,1BA$1.04
La Buena Vida1 Bed, 1 bath1BR,1BA$1.04
Park LeeOne-Bedroom1BR,1BA$1.06
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$1.04

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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.

Pet Friendly Lifestyle
Phoenix, AZ

Ranked #1

Among cities in Arizona for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Phoenix, AZ Rentals by Map

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See the most popular apartments and homes in Phoenix, AZ

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Getting Around Phoenix, AZ

Walk Score®

52 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

59 / 100

Bikeable

Some bike infrastructure

Transit Score®

40 / 100

Some Transit

A few nearby public transportation options

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 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 $705.

What is the price of a cheap apartment in Phoenix?

The cheapest apartment in Phoenix is Legacy Crossing I & II which is listed at $647, while the average apartment in Phoenix costs $4,629.

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 10,703 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 $351 which is $4,278 cheaper than the average rent for all rentals in Phoenix.

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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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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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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.