Cheap Homes for Rent in Downtown Phoenix Neighborhood of Phoenix, AZ from $600 (164 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

5128 N 15th 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.

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property at 5128 N 15th St

5128 N 15th St

PhoenixAZ85014

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 2032 W Adams St

2032 W Adams St

PhoenixAZ85009
property at 4231 N 13th Pl

4231 N 13th Pl

PhoenixAZ85014
property at 4231 N 13th Pl

4231 N 13th Pl

PhoenixAZ85014
property at 1645 E Thomas Rd

1645 E Thomas Rd

PhoenixAZ85016
property at 3101 N 32nd St

3101 N 32nd St

PhoenixAZ85018

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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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 528 W Culver St

528 W Culver St

PhoenixAZ85003

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 4

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 The Venue on Camelback Apartments priced from $591. Crosstown Phoenix has the second lowest priced unit, which is a Studio apartment currently listed from $638. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
The Venue on Camelback ApartmentsHoneyStudio,1BA$591
Crosstown Phoenixe10a - EastStudio,1BA$638
Legacy Crossing I & IILG2 3 Bedroom3BR,2BA$639
Vista Village on Van BurenStudioStudio,1BA$649
Palm SquareStudioStudio,1BA$699
Elevate at ThomasStudioStudio,1BA$700
Spectra MidtownS2CStudio,1BA$705
Park LeeOne-Bedroom1BR,1BA$715
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 December 05, 2025 the best value apartment in the Downtown Phoenix area is the $0.90 price per square foot 3 Bedroom 2.5 Bath Model at Monterosa Villas in the in the Downtown Phoenix neighborhood starting from $2,100. The second greatest value Downtown Phoenix apartment is the C2 - Phase ll Model at Collins Off Colter II starting at $1,400 with a $1.10 price per square foot in the Central 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.
Monterosa Villas3 Bedroom 2.5 Bath3BR,2.5BA$0.90
Collins Off Colter IIC2 - Phase ll2BR,2BA$1.10
Legacy Crossing I & II3 bedroom3BR,2BA$0.97
Villas at PapagoTwo Bedroom1BR,1BA$0.93
Portola BiltmoreThe Loft2BR,2BA$1.18
62 W Culver StOne bed1BR,1BA$1.00
U Apartments @ Melrose2x1 B1 R2BR,1BA$1.04
Cactus CanyonOne Bedroom-One Bath1BR,1BA$1.13
McCarty on Monroe1 Bedroom (A)1BR,1BA$1.04
Park LeeOne-Bedroom1BR,1BA$1.06

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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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.

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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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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

Frequently Asked Questions about Downtown Phoenix

What type of rentals are currently available in Downtown Phoenix?

There are currently 2202 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $591 to $19,995. There are also 645 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $699 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 $699 to $50,000 with an average monthly rent of $7,968.

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 $1,380 to $30,000. Four Bedroom Single-Family rentals are also available starting from $1,100 and Four Bedroom Apartments start at $740.

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.

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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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!