Cheap Apartments for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $500 (593 Rentals)

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

property at 2032 W Adams St

2032 W Adams St

PhoenixAZ85009

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.

Read Article
property at 2301 N 28th St

2301 N 28th St

PhoenixAZ85008
property at 1645 E Thomas Rd

1645 E Thomas Rd

PhoenixAZ85016

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 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.

Read Article

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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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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Showing Results 1-50, Page 1 of 12

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 1 Bed unit found at Legacy Crossing I & II priced from $647. 2025 West Apartment Homes has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Legacy Crossing I & II1 bedroom1BR,1BA$647
2025 West Apartment HomesS1Studio,1BA$700
Elevate at ThomasStudioStudio,1BA$700
La Buena Vida1 Bed, 1 bath1BR,1BA$705
Park LeeOne-Bedroom1BR,1BA$715
McCarty on Monroe1 Bedroom (A)1BR,1BA$717
Victory Place I-IVStudioStudio,1BA$720
Sunset Sound Studio ApartmentsSTUStudio,1BA$720
Valencia ParkSonomaStudio,1BA$725
Crosstown Phoenixe10a - EastStudio,1BA$740

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of September 07, 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
AvalonTwo Bed Two Bath2BR,2BA$1.35
Copper Stone on 32nd2B2B - A2BR,2BA$1.21
Cactus CanyonOne Bedroom-One Bath1BR,1BA$1.33
Osborn Place1 Bed - 1 Bath B1BR,1BA$1.07
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

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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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 $740.

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 $2,269.

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 547 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 $348 which is $1,921 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).

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.