Cheap Apartments for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $500 (634 Rentals)

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

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Crosstown Phoenix
Rent Specials
$684 - $1,660
Total Monthly Price

Total Monthly Price

Base Rent
$684 - $1,660
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Crosstown Phoenix

1601 W Camelback RdPhoenix, AZ 85015
Student Housing
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  • 3D Tour

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Adara
Rent Specials
$756 - $3,082
Total Monthly Price

Total Monthly Price

Base Rent
$756 - $3,082
Total Monthly Price
Varies
Studio to 4 Bedroom Apartments Available Now

Adara

888 N 4th StPhoenix, AZ 85004
Student Housing
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  • Smoke Free
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Collins off Colter*
Rent Specials
$759 - $3,185
Total Monthly Price

Total Monthly Price

Base Rent
$759 - $3,185
Total Monthly Price
$759 - $3,185
Studio to 3 Bedroom Apartments Available Now

Collins off Colter*

5128 N 15th StPhoenix, AZ 85014
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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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Monterra
Rent Specials
$829 - $1,761
Total Monthly Price

Total Monthly Price

Base Rent
$829 - $1,761
Total Monthly Price
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Studio to 3 Bedroom Apartments Available Now

Monterra

1333 N 24th StPhoenix, AZ 85008
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property at 4401 N 12th St

$725 - $1,300

1 Bedroom Rentals

Available Now

4401 N 12th St

PhoenixAZ85014

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Monterey Village
Rent Specials
$872 - $1,619
Total Monthly Price

Total Monthly Price

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$872 - $1,619
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Studio to 2 Bedroom Apartments Available Now

Monterey Village

4707 E McDowell RdPhoenix, AZ 85008
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  • Low Income

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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 1 Bed unit found at Garfield Terrace priced from $507. Highland Palms has the second lowest priced unit, which is a 1 Bed apartment currently listed from $595. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Garfield TerraceGarfield Terrace One Bedroom1BR,1BA$507
Highland Palms1 Beds, 1 Baths1BR,1BA$595
Legacy Crossing I & II3 bedroom3BR,2BA$639
2025 West Apartment HomesS1Studio,1BA$655
Crosstown Phoenixe10a - WestStudio,1BA$684
Park LeeOne-Bedroom1BR,1BA$715
Victory Place I-IVStudioStudio,1BA$720
Ava ParkA1 Income Qualified Homes1BR,1BA$725
Park TerraceStudioStudio,1BA$749
Sunset Sound Studio ApartmentsSTUStudio,1BA$749

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of August 05, 2026 the best value apartment in the Downtown Phoenix area is the $1.16 price per square foot D1 - Phase ll Model at Collins Off Colter II in the in the Central Phoenix neighborhood starting from $1,799. The second greatest value Downtown Phoenix apartment is the 3 Beds, 2 Baths Model at Sandalwood Apartments starting at $1,595 with a $1.13 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.
Collins Off Colter IID1 - Phase ll3BR,2BA$1.16
Sandalwood Apartments3 Beds, 2 Baths3BR,2BA$1.13
Topaz PointeTopaz Pointe 3 Bedroom3BR,2BA$1.00
Villas at PapagoTwo Bedroom Villas2BR,1BA$1.00
Copper Stone on 32nd2B2B - A2BR,2BA$1.21
McCarty on Monroe1 Bedroom (C)1BR,1BA$0.99
Palisade Park Aparments2x2 Platinum2BR,2BA$1.13
Arcadia Lofts1bd/1ba1BR,1BA$1.12
Park LeeOne-Bedroom1BR,1BA$1.06
Highland Palms1 Beds, 1 Baths1BR,1BA$0.92

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

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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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Downtown Phoenix, Phoenix, AZ

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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 the Cheapest Studio apartment in Downtown Phoenix?

Currently the most affordable Cheap Studio Apartment in Downtown Phoenix is at 2025 West Apartment Homes listed at $655.

How much is rent for a Cheap One Bedroom Downtown Phoenix Apartment?

The lowest price for a Cheap One Bedroom Downtown Phoenix Apartment is $507 at Garfield Terrace.

What is the lowest price for a Cheap Two Bedroom Downtown Phoenix Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Phoenix is starting from $799 at 2510 E Pueblo Ave.

What is the most affordable Downtown Phoenix Three Bedroom Apartment?

The best deal on a cheap Downtown Phoenix Three Bedroom Apartment rental is at Legacy Crossing I & II and starts from $639.

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.

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