Cheap Apartments for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $400 (495 Rentals)

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

property at 2301 N 28th St

2301 N 28th St

PhoenixAZ85008
property at 3025 N 32nd St

3025 N 32nd St

PhoenixAZ85018
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Downtown Phoenix, Phoenix, AZ Local Guide

Cheapest Available Downtown Phoenix Apartments for Rent

 

The cheapest available apartment rental in the Downtown Phoenix area of Phoenix, AZ is a Studio unit found at Coral Gardens priced from $420. Crosstown Phoenix has the second lowest priced unit, which is a Studio apartment currently listed from $613. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Coral GardensStudioStudio,1BA$420
Crosstown Phoenixe10a - EastStudio,1BA$613
Legacy Crossing I & II1 bedroom1BR,1BA$647
Omnia on Thomas0x1 370sf ClassicStudio,1BA$675
Elevate at ThomasStudioStudio,1BA$700
La Buena Vida1 Bed, 1 bath1BR,1BA$705
Park LeeOne-Bedroom1BR,1BA$715
SeventhStudio - ClassicStudio,1BA$717
McCarty on Monroe1 Bedroom (A)1BR,1BA$717
Victory Place I-IVStudioStudio,1BA$720

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of July 24, 2025 the best value apartment in the Downtown Phoenix area is the $1.08 price per square foot Two Bedroom Model at Villas at Papago in the in the South Phoenix neighborhood starting from $1,225. The second greatest value Downtown Phoenix apartment is the Two Bedroom, Two Bath Model at Camelback Gardens starting at $1,399 with a $1.25 price per square foot in the Downtown Phoenix neighborhood. Here is today’s list of the best values for Downtown Phoenix apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Villas at PapagoTwo Bedroom2BR,1BA$1.08
Camelback GardensTwo Bedroom, Two Bath2BR,2BA$1.25
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.33
Large 2 bedroom units central Phoenix2x1 B1 C2BR,1BA$1.32
Portola at PapagoB12BR,1BA$1.31
Bethany at MidtownTwo Bedroom One Bathroom2BR,1BA$1.33
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

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Phoenix, Phoenix, AZ

Ranked #4

Among cities in Arizona for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Phoenix, Phoenix, AZ

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Phoenix. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, pet-friendly features, family-friendliness, proximity to transit, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Phoenix Apartments

What is a cheap apartment in Downtown Phoenix?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Phoenix is under $720.

What is the price of a cheap apartment in Downtown Phoenix?

The cheapest apartment in Downtown Phoenix is Legacy Crossing I & II which is listed at $647, while the average apartment in Downtown Phoenix costs $2,475.

What types of apartments are the cheapest in Downtown 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 474 regular apartments in Downtown 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 Downtown Phoenix?

Cheap apartments in Downtown Phoenix have an average cost of $357 which is $2,118 cheaper than the average rent for all rentals in Downtown 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.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

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.