Cheap Homes for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $700 (148 Rentals)

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

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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

Your Essential Local Experts Phoenix Relocation Guide: Housing, Utilities, and Local Tips

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property at 3302 N 7th St

$1,125

Total Monthly Price

Total Monthly Price

Base Rent
$1,125
Total Monthly Price
$1,125

1 Bedroom, 1 Bath Condo for Rent

Available Now

3302 N 7th St, Unit #330

3302 N 7th St
PhoenixAZ85014

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

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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 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$694
Palm SquareStudioStudio,1BA$699
Victory Place I-IVStudioStudio,1BA$720
Sunset Sound Studio ApartmentsSTUStudio,1BA$749
Park TerraceStudioStudio,1BA$749
Valencia ParkSonomaStudio,1BA$750

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of July 23, 2026 the best value apartment in the Downtown Phoenix area is the $1.13 price per square foot 3 Beds, 2 Baths Model at Sandalwood Apartments in the in the Downtown Phoenix neighborhood starting from $1,595. The second greatest value Downtown Phoenix apartment is the LG2 3 Bedroom Model at Legacy Crossing I & II starting at $979 with a $0.83 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.
Sandalwood Apartments3 Beds, 2 Baths3BR,2BA$1.13
Legacy Crossing I & IILG2 3 Bedroom3BR,2BA$0.83
Topaz PointeTopaz Pointe 3 Bedroom3BR,2BA$1.00
Villas at PapagoTwo Bedroom Villas2BR,1BA$1.00
McCarty on Monroe1 Bedroom (C)1BR,1BA$0.99
Park LeeTwo-Bedroom2BR,1BA$1.01
Palisade Park Aparments2x2 WD2BR,2BA$1.07
Arcadia Lofts1bd/1ba1BR,1BA$1.12
Garfield TerraceGarfield Terrace One Bedroom1BR,1BA$0.78
Highland Palms1 Beds, 1 Baths1BR,1BA$0.92

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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 2161 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $507 to $19,995. There are also 477 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $799 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 $799 to $50,000 with an average monthly rent of $10,540.

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 $1,350 to $14,995. Four Bedroom Single-Family rentals are also available starting from $1,795 and Four Bedroom Apartments start at $970.

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

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I’m Andrew, your ApartmentHomeLiving.com Local Expert for Phoenix.

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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.

Articles, How-To's, and Tips

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