Cheap Apartments for Rent in the Story Neighborhood of Phoenix, AZ from $500 (167 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Story area of Phoenix.

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property at 3848 N 3rd Ave

$999 - $1,895

1 To 2 Bedroom Rentals

Available Now

3848 N 3rd Ave

PhoenixAZ85013

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 821 N 3rd St

$1,099

Studio Rentals

Available Now

821 N 3rd St

PhoenixAZ85004

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

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Story, Phoenix, AZ Local Guide

Cheapest Available Story Apartments for Rent

 

The cheapest available apartment rental in the Story area of Phoenix, AZ is a Studio unit found at Adara priced from $689. Spectra Midtown has the second lowest priced unit, which is a Studio apartment currently listed from $705. Here are the most affordable Story apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
AdaraCo-living 4BStudio,1BA$689
Spectra MidtownS2CStudio,1BA$705
McCarty on Monroe1 Bedroom (A)1BR,1BA$717
Reflections On PortlandOne Bedroom1BR,1BA$749
2025 West Apartment HomesS1Studio,1BA$760
Ava ParkA11BR,1BA$771
Resort on 27th1+1 3rd1BR,1BA$799
16th Ave ApartmentsStudio/1 BathStudio,1BA$895
U Apartments @ Melrose2x1 B2 R2BR,1BA$899
X PhoenixCOLIVING Suites in 4 BR/4BAStudio,1BA$899

Best Value Apartments for Rent in Story, AZ

As of February 03, 2026 the best value apartment in the Story area is the $1.51 price per square foot 3A Model at The Heritage Apartment Homes in the in the Encanto neighborhood starting from $1,845. The second greatest value Story apartment is the 543 W Coronado Rd Model at 543 W Coronado Rd, Unit 4 starting at $1,900 with a $1.60 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Story apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Heritage Apartment Homes3A3BR,2BA$1.51
543 W Coronado Rd, Unit 4543 W Coronado Rd2BR,1BA$1.60
62 W Culver StOne bed1BR,1BA$1.00
U Apartments @ Melrose2x1 B1 R2BR,1BA$1.04
McCarty on Monroe1 Bedroom (B)1BR,1BA$1.37
Aura at Midtown1x1 780sf Reno1BR,1BA$1.64
Urbana at 11thTwo Bed One Bath2BR,1BA$1.53
425 N 20th Ave, Unit 425425 N 20th Ave1BR,1BA$1.60
Devonshire Apartments1x11BR,1BA$1.60
Ava ParkA11BR,1BA$1.61

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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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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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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Best Local Schools in
Story, Phoenix, AZ

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Phoenix. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and the best outdoor access, transit availability, pet-friendly communities, places that make kids happy, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Story Apartments

What is a cheap apartment in Story?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Story is under $899.

What is the price of a cheap apartment in Story?

The cheapest apartment in Story is McCarty on Monroe which is listed at $717, while the average apartment in Story costs $2,549.

What types of apartments are the cheapest in Story?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 1,612 regular apartments in Story that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Story?

Cheap apartments in Story have an average cost of $1,436 which is $1,113 cheaper than the average rent for all rentals in Story.

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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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.

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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.

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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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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

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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.