Cheap Homes for Rent in Phoenix, AZ from $700 (985 Rentals)

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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 15046 W Sells Dr

15046 W Sells Dr

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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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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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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Phoenix, AZ Local Guide

Cheapest Neighborhoods for Apartments in Phoenix, AZ

Pricing Updated: 06/14/2025

Current apartment rentals in the Phoenix, AZ area range in price from $550 to $60,000 with an overall median price of $7,245. The three Phoenix neighborhoods with the lowest median rent pricing are Villa Mesa at $1,295, North Mountain at $1,295, and Bethany Square Neighborhood at $1,200. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Phoenix Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Villa Mesa$1,650$1,2958
North Mountain$1,852$1,2956
Bethany Square Neighborhood$1,872$1,2009
Encanto$1,872$1,39912
West Plaza Estates$1,900$1,20015
Freedom Run Encanto$1,945$1,39913
Maryland Manor$1,972$1,40017
The Preserve at Cibola Vista$1,995$1,12510
64th Drive Sunrise$2,000$95010
Fiesta Villages$2,000$1,59512

Cheapest Available Phoenix Apartments for Rent

 

The cheapest available apartment rental in Phoenix, AZ is a Studio unit found at Coral Gardens in the South Phoenix neighborhood priced from $420. Legacy Crossing I & II in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $577. Here is today’s list of the most affordable Phoenix apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Coral GardensStudioStudio,1BA$420
Legacy Crossing I & II1 bedroom1BR,1BA$577
Madera at MetroStudioStudio,1BA$649
Tides on 51st0BD, 1BTHStudio,1BA$663
Aspire West PhoenixStudioStudio,1BA$666
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$670
Roosevelt PointD24BR,4BA$699
Biltmore on the Lakest1cStudio,1BA$699
Towers on 19thThe SunriseStudio,1BA$700
La Buena Vida1 Bed, 1 bath1BR,1BA$705

Best Value Apartments for Rent in Phoenix, AZ

As of June 14, 2025 the best value apartment in the Phoenix area is the $0.93 price per square foot one bed room Model at Craig Byrd in the in the Hesper Knoll at Palm Valley neighborhood starting from $1,300. The second greatest value Phoenix apartment is the Two Bedroom 1.5 Bath Model at Camelback Gardens starting at $1,350 with a $1.10 price per square foot in the Downtown Phoenix neighborhood. Here is today’s list of the best values for Phoenix apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Craig Byrdone bed room1BR,1BA$0.93
Camelback GardensTwo Bedroom 1.5 Bath2BR,1.5BA$1.10
Legacy Crossing I & IILG2 2 Bedroom2BR,2BA$0.92
Park Villas2x1.52BR,1.5BA$1.13
The Cove2 Bedroom x 1 Bath2BR,1BA$1.04
Paradise Palms I1 Bedroom1BR,1BA$1.06
McCarty on Monroe1 Bedroom (A)1BR,1BA$1.04
La Buena Vida1 Bed, 1 bath1BR,1BA$1.04
Park LeeOne-Bedroom1BR,1BA$1.06
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$1.04

Quick Rent Budget Calculator

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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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Frequently Asked Questions about Phoenix

What type of rentals are currently available in Phoenix?

There are currently 5740 Apartments for Rent in Phoenix, AZ with pricing that ranges from $420 to $27,300. There are also 4738 Single Family Homes for rent, Condos, and Townhome rentals currently available in Phoenix ranging from $700 to $60,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Phoenix ranges from $700 to $60,000 with an average monthly rent of $7,180.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Phoenix range from $750 to $22,186, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $27,000. Four Bedroom Single-Family rentals are also available starting from $760 and Four Bedroom Apartments start at $699.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.