Cheap Homes for Rent in Downtown Phoenix Neighborhood of Phoenix, AZ from $600 (152 Rentals)

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

property at 5128 N 15th St

$677

Studio, 1 Bath Condo for Rent

Available Now

5128 N 15th St

PhoenixAZ85014
property at 810 E Colter St

$850 - $1,150

1 To 2 Bedroom Rentals

Available Now

810 E Colter St

PhoenixAZ85014

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 2032 W Adams St

$899 - $1,000

1 To 2 Bedroom Rentals

Available Now

2032 W Adams St

PhoenixAZ85009

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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property at 3101 N 32nd St

$949

Studio, 1 Bath Condo for Rent

Available Now

3101 N 32nd St

PhoenixAZ85018
property at 4231 N 13th Pl

$955

1 Bedroom, 1 Bath Condo for Rent

Available Now

4231 N 13th Pl

PhoenixAZ85014
property at 4231 N 13th Pl

$955

1 Bedroom, 1 Bath Condo for Rent

Available Now

4231 N 13th Pl

PhoenixAZ85014
property at 5128 N 15th St

$964

1 Bedroom, 1 Bath Condo for Rent

Available Now

5128 N 15th St

PhoenixAZ85014

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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property at 1645 E Thomas Rd

$989

1 Bedroom, 1 Bath Condo for Rent

Available Now

1645 E Thomas Rd

PhoenixAZ85016

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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property at 5312 E Taylor St

$1,149

1 Bedroom, 1 Bath Condo for Rent

Available Now

5312 E Taylor St

PhoenixAZ85008

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 Tanner Manor Apartments priced from $529. Legacy Crossing I & II has the second lowest priced unit, which is a 3 Beds apartment currently listed from $639. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Tanner Manor ApartmentsONE MONTH RENT-FREE + GROUND-LEVEL UNITS AVAILABLE1BR,1BA$529
Legacy Crossing I & IILG2 3 Bedroom3BR,2BA$639
Collins off Colter*S1 - Phase lStudio,1BA$677
Crosstown Phoenixe10a - WestStudio,1BA$684
Spectra MidtownS2CStudio,1BA$705
Park LeeOne-Bedroom1BR,1BA$715
McCarty on Monroe1 Bedroom (A)1BR,1BA$717
Sunset Sound Studio ApartmentsSTUStudio,1BA$720
Victory Place I-IVStudioStudio,1BA$720
The Venue on Camelback ApartmentsHoneyStudio,1BA$723

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of January 22, 2026 the best value apartment in the Downtown Phoenix area is the $0.97 price per square foot 3 bedroom Model at Legacy Crossing I & II in the in the South Phoenix neighborhood starting from $1,139. The second greatest value Downtown Phoenix apartment is the Two Bedroom Model at Villas at Papago starting at $1,050 with a $0.93 price per square foot in the South 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.
Legacy Crossing I & II3 bedroom3BR,2BA$0.97
Villas at PapagoTwo Bedroom1BR,1BA$0.93
62 W Culver StOne bed1BR,1BA$1.00
Collins Off Colter IIB3 - Phase ll2BR,1BA$1.20
U Apartments @ Melrose2x1 B1 R2BR,1BA$1.04
Camelback CourtyardTwo Bedroom/ one and a Half Bath2BR,1.5BA$1.14
Partenza on HighlandTwo Bedroom, One Bath2BR,1BA$1.14
Tanner Manor ApartmentsLIMITED-TIME SPECIAL: ONE MONTH RENT-FREE O.A.C...2BR,1BA$1.10
Cactus CanyonOne Bedroom-One Bath1BR,1BA$1.20
Park LeeOne-Bedroom1BR,1BA$1.06

Frequently Asked Questions about Downtown Phoenix

What type of rentals are currently available in Downtown Phoenix?

There are currently 2225 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $649 to $31,500. There are also 594 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $677 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 $677 to $50,000 with an average monthly rent of $9,370.

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 $675 to $19,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $900 to $30,000. Four Bedroom Single-Family rentals are also available starting from $850 and Four Bedroom Apartments start at $740.

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

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.