Top Rated Cheap Apartments for Rent in Phoenix, AZ from $500 (286 Rentals)

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Top Rated Apartments in Phoenix.

Cheap Apartments in Phoenix.

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North Mountain Village
Rent Specials
$794 - $1,565
Total Monthly Price

Total Monthly Price

Base Rent
$794 - $1,565
Total Monthly Price
$794 - $1,565
Studio to 2 Bedroom Apartments Available Now

North Mountain Village

3333 W Thunderbird RdPhoenix, AZ 85053
Affordability
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Monterey Village
Rent Specials
$872 - $1,619
Total Monthly Price

Total Monthly Price

Base Rent
$872 - $1,619
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Monterey Village

4707 E McDowell RdPhoenix, AZ 85008
Affordability
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  • Low Income

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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Terrasol
Rent Specials
$902 - $2,231
Total Monthly Price

Total Monthly Price

Base Rent
$902 - $2,231
Total Monthly Price
$902 - $2,231
1 to 2 Bedroom Apartments Available Now

Terrasol

1010 N 48th StPhoenix, AZ 85008
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sora
Rent Specials
$958 - $1,701
Total Monthly Price

Total Monthly Price

Base Rent
$958 - $1,701
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

sora

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Urban Walk Apartments
Rent Specials
$1,044 - $1,394
Total Monthly Price

Total Monthly Price

Base Rent
$1,044 - $1,394
Total Monthly Price
$1,044 - $1,394
1 to 2 Bedroom Apartments Available Now

Urban Walk Apartments

3802 N 27th StPhoenix, AZ 85016
Corporate Housing
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Derby
Rent Specials
$1,095 - $4,124
Total Monthly Price

Total Monthly Price

Base Rent
$1,095 - $4,124
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Derby

800 N 2nd StPhoenix, AZ 85004
Student Housing
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Connect on Union
Rent Specials
$1,135 - $1,987
Total Monthly Price

Total Monthly Price

Base Rent
$1,135 - $1,987
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Connect on Union

2311 E Union Hills DrPhoenix, AZ 85024
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

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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FLATZ 602
Rent Specials
$1,169 - $1,719
Total Monthly Price

Total Monthly Price

Base Rent
$1,169 - $1,719
Total Monthly Price
$1,169 - $1,719
Studio to 2 Bedroom Apartments Available Sep 2

FLATZ 602

6025 W Thomas RdPhoenix, AZ 85033
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West Town Court
Rent Specials
$1,175 - $1,900
Total Monthly Price

Total Monthly Price

Base Rent
$1,175 - $1,900
Total Monthly Price
$1,175 - $1,900
1 to 3 Bedroom Apartments Available Now

West Town Court

8400 W Virginia AvePhoenix, AZ 85037
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Rosie
Rent Specials
$1,204 - $3,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,204 - $3,250
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Rosie

625 N 2nd 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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Palm Court Apartments
Rent Specials
$1,281 - $1,622
Total Monthly Price

Total Monthly Price

Base Rent
$1,281 - $1,622
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Palm Court Apartments

20401 N 19th AvePhoenix, AZ 85027
Affordability
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Rockledge Fairways
Rent Specials
$1,289 - $2,000
Total Monthly Price

Total Monthly Price

Base Rent
$1,289 - $2,000
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Rockledge Fairways

13220 S 48th StPhoenix, AZ 85044
Affordability
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Alanza Place
Rent Specials
$1,314 - $2,905
Total Monthly Price

Total Monthly Price

Base Rent
$1,314 - $2,905
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Alanza Place

1121 N 44th StPhoenix, AZ 85008
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.

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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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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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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 $699.

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 $1,625.

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 35,153 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 $603 which is $1,022 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

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

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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

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

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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.

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

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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.

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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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