Cheap Homes for Rent in Downtown Phoenix Neighborhood of Phoenix, AZ from $600 (124 Rentals)

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

property at 4401 N 12th St

$750 - $1,500

1 Bedroom Rentals

Available Now

4401 N 12th St

PhoenixAZ85014

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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.

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property at 1201 E Moreland St

$1,000 - $2,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,000 - $2,300
Total Monthly Price
$1,000 - $2,300

Studio To 2 Bedroom Townhomes for Rent

Available Now

1201 E Moreland St

PhoenixAZ85006
property at 1333 E Thomas Rd

$1,000 - $1,500

1 To 2 Bedroom Rentals

Available Now

1333 E Thomas Rd

PhoenixAZ85014

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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property at 1241 N 48th St

$995 - $1,050

1 Bedroom Rentals

Available Now

1241 N 48th St

PhoenixAZ85008
property at 3302 N 7th St

$1,090

Total Monthly Price

Total Monthly Price

Base Rent
$1,090
Total Monthly Price
$1,090

1 Bedroom, 1 Bath Condo for Rent

Available Now

3302 N 7th St, Unit #330

3302 N 7th St
PhoenixAZ85014
property at 2803 E Monroe St

$1,095

2 Bedroom, 1 Bath Home for Rent

Available Now

2803 E Monroe St

PhoenixAZ85034

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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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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Showing Results 1-50, Page 1 of 3

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 2025 West Apartment Homes priced from $655. Vista Village on Van Buren has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
2025 West Apartment HomesS1Studio,1BA$655
Vista Village on Van BurenStudioStudio,1BA$699
Collins off Colter*S1 - Phase lStudio,1BA$703
Park LeeOne-Bedroom1BR,1BA$715
Victory Place I-IVStudioStudio,1BA$720
Crosstown Phoenixe10a - WestStudio,1BA$721
Sunset Sound Studio ApartmentsSTUStudio,1BA$749
Omnia on Thomas0x1 350sf ClassicStudio,1BA$749
Summit on ThomasS1Studio,1BA$750
Ava ParkA2 Income Qualified Homes1BR,1BA$750

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of June 07, 2026 the best value apartment in the Downtown Phoenix area is the $0.95 price per square foot Two Bedroom Villas Model at Villas at Papago in the in the South Phoenix neighborhood starting from $1,075. 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 Bedroom Villas2BR,1BA$0.95
Camelback GardensTwo Bedroom, Two Bath2BR,2BA$1.25
Legacy Crossing I & IILG2 2 Bedroom2BR,2BA$0.92
Copper Stone on 32nd2B2B - A2BR,2BA$1.21
TamarackB12BR,1BA$1.08
Arcadia Lofts1bd/1ba1BR,1BA$1.16
De Ville1 Bed, 1 bath1BR,1BA$1.21
Park LeeOne-Bedroom1BR,1BA$1.06
Bethany at MidtownOne Bedroom One Bathroom1BR,1BA$1.23
Radius Apartments1bd/1ba1BR,1BA$1.23

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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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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Best Local Schools in
Downtown Phoenix, Phoenix, AZ

School data provided by Great Schools

Frequently Asked Questions about Downtown Phoenix

What type of rentals are currently available in Downtown Phoenix?

There are currently 2173 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $595 to $19,995. There are also 491 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $695 to $50,000.

What is the current price range for Rental Homes in Downtown Phoenix?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Phoenix ranges from $695 to $50,000 with an average monthly rent of $10,464.

How much are larger Three and Four Bedroom Rentals in Downtown Phoenix?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Phoenix range from $730 to $19,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,295 to $14,995. Four Bedroom Single-Family rentals are also available starting from $1,300 and Four Bedroom Apartments start at $965.

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

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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Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

Written by: Andrew Jollett

I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.

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

A Phoenix Experts 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.

decorative image for New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options article

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.

Articles, How-To's, and Tips

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.