Cheap New Apartments for Rent in Phoenix, AZ from $609 (355 Rentals)

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

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sora
$885 - $1,628

Total Monthly Price

Base Rent$885 - $1,628
Total Monthly PriceVaries
Built in 2021Studio to 3 Bedroom Apartments Available Soon

sora

355 N Central AvePhoenix, AZ 85004
Student Housing
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  • Customer Reviewed
  • 3D Tour

From Scottsdale to Peoria: Your Renter’s Guide to Phoenix's Best Cities

Looking to rent in the Phoenix area, but outside of the core? This guide covers top cities in the metroplex like Gilbert and Chandler, highlighting key differences in cost of living, commute, and community feel.

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Madison Grove
Rent Specials
$999 - $1,450

Total Monthly Price

Base Rent$999 - $1,450
Total Monthly Price$999 - $1,450
Built in 2016Studio to 2 Bedroom Apartments Available Now

Madison Grove

7045 N 7th StPhoenix, AZ 85020
Affordability
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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Explore the rise of commercial-to-residential conversions. Learn how repurposing vacant office space helps solve the affordable housing shortage.

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Derby
Rent Specials
$1,189 - $3,562

Total Monthly Price

Base Rent$1,189 - $3,562
Total Monthly PriceVaries
Built in 2022Studio to 2 Bedroom Apartments Available Now

Derby

800 N 2nd StPhoenix, AZ 85004
Student Housing
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  • Customer Reviewed
  • 3D Tour
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Mason Oliver
Rent Specials
$1,196 - $3,128

Total Monthly Price

Base Rent$1,196 - $3,128
Total Monthly PriceVaries
Built in 2016Studio to 3 Bedroom Apartments Available Now

Mason Oliver

11 S 12th StPhoenix, AZ 85034
Corporate Housing
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  • Smoke Free

Your Essential Local Experts Phoenix Relocation Guide: Housing, Utilities, and Local Tips

Your complete checklist for relocating to the Phoenix metro area. Easily navigate housing, set up electricity and gas with provider links, handle vehicle registration, and learn local regulations.

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The Stewart
Rent Specials
$1,238 - $4,347

Total Monthly Price

Base Rent$1,238 - $4,347
Total Monthly PriceVaries
Built in 2019Studio to 2 Bedroom Apartments Available Now

The Stewart

800 N Central AvePhoenix, AZ 85003
Student Housing
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  • Customer Reviewed
  • 3D Tour

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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Callia
Rent Specials
$1,299 - $3,612

Total Monthly Price

Base Rent$1,299 - $3,612
Total Monthly PriceVaries
Built in 2022Studio to 3 Bedroom Apartments Available Now

Callia

100 W Indian School RdPhoenix, AZ 85012
Student Housing
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  • Customer Reviewed
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FLATZ 602
Rent Specials
$1,319 - $1,494

Total Monthly Price

Base Rent$1,319 - $1,494
Total Monthly Price$1,319 - $1,494
Built in 2022Studio to 2 Bedroom Apartments Available Now

FLATZ 602

6025 W Thomas RdPhoenix, AZ 85033
Furnished
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Ragsdale
Rent Specials
$1,324 - $2,114

Total Monthly Price

Base Rent$1,324 - $2,114
Total Monthly PriceVaries
Built in 2026Studio to 2 Bedroom Apartments Available Now

Ragsdale

1150 E Washington StPhoenix, AZ 85034
Student Housing
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  • Customer Reviewed
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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Looking for the perfect new rental? Learn great ways to spot the perfect apartment for you, identify common red flags, and avoid rental issues and scams with these expert provided actionable tips.

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Phoenix, AZ Local Guide

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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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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 $682.

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 $1,622.

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 32,035 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 $601 which is $1,021 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

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From Scottsdale to Peoria: Your Renter’s Guide to Phoenix's Best Cities

Written by: Andrew Jollett

I’m Andrew, your ApartmentHomeLiving.com Local Expert for Phoenix.

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Your Essential Local Expert's Phoenix Relocation Guide: Housing, Utilities, and Local Tips

Written by: Andrew Jollett

Hi! I’m Andrew, and I’m your local Phoenix expert for ApartmentHomeliving.com. If you’re looking to move to the Phoenix area, I’m excited for you.

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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.

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

A Phoenix Expert's 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.

Articles, How-To's, and Tips

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.