Cheap Apartments for Rent near Prospect, OR from $800 (47 Rentals)

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Search the lowest-cost Apartments available for rent right now in Prospect.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 613 St Thomas Ln

$1,550 - $2,595

1 To 3 Bedroom Rentals

Available Aug 1

613 St Thomas Ln

Eagle PointOR97524

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 1981 Sky Park Dr

$1,600 - $2,175

2 To 4 Bedroom Rentals

Available Now

1981 Sky Park Dr

MedfordOR97504
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Camino Colibri
Studio to 3 Bedroom Apartments

Camino Colibri

915 Broad StMedford, OR 97501
  • Utilities Included
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70-110 S Haskell St
1 to 2 Bedroom Apartments

70-110 S Haskell St

70-110 S Haskell StCentral Point, OR 97502
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Morningside Apartments
1 to 2 Bedroom Apartments

Morningside Apartments

2001 Table Rock RdMedford, OR 97501
  • Utilities Included
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Genesis Apartments
Studio to 2 Bedroom Apartments

Genesis Apartments

121 S Holly StMedford, OR 97501

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Oakridge
1 to 3 Bedroom Apartments

Oakridge

2511 NW Edenbower RdRoseburg, OR 97471
  • Utilities Included
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Talent Parkside
2 Bedroom Apartments

Talent Parkside

220 W Rapp RdTalent, OR 97540
  • Utilities Included

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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Showing Results 1-47, Page 1 of 1

Prospect, OR Local Guide

Cheapest Available Prospect Apartments for Rent and Nearby

 

The cheapest available apartment rental in Prospect, OR is a Studio unit found at Valley Pines priced from $1,004. The Jackson in the Downtown Medford neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,095. Here is today’s list of the most affordable Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Valley PinesStudioStudio,1BA$1,004
The JacksonE BuildingStudio,1BA$1,095
Orchard Glen Estates2 Bedroom 1.5 Bath Apartment2BR,1BA$1,275
New Medford Apartments1x1 H-081BR,1BA$1,285
Charles Point2 Bedroom 1 Bath Apartment2BR,1BA$1,350
Saddle Butte Duplexes1012BR,1BA$1,375
Smith Crossing Apartments2 Bedroom 1.5 Bath Apartment2BR,1BA$1,425
Preble Way ApartmentsPreble Apartments2BR,2BA$1,450
Oakridge2x1 Second Floor and Top Floor2BR,1BA$1,500
Anjou Club Apartment Homes2x12BR,1BA$1,570

Best Value Apartments for Rent in Prospect, OR and Nearby

As of July 23, 2026 the best value apartment in the Prospect area is the $1.29 price per square foot 1809 Model at 1809 Williams Hwy in the starting from $1,950. The second greatest value Prospect apartment is the 3 Bed 2.5 Bath Model at Oak Grove Estates starting at $1,895 with a $1.26 price per square foot . Here is today’s list of the best values for Prospect apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1809 Williams Hwy18094BR,2BA$1.29
Oak Grove Estates3 Bed 2.5 Bath3BR,2.5BA$1.26
Ridgewood3X2A3BR,2BA$1.48
Saddle Butte Duplexes1012BR,1.5BA$1.20
Oakridge2x1 Second Floor and Top Floor2BR,1BA$1.65
Preble Way ApartmentsPreble Apartments2BR,2BA$1.70
Orchard Glen Estates2 Bedroom 1.5 Bath Apartment2BR,1.5BA$1.58
Charles Point2 Bedroom 1.5 Bath Apartment2BR,1.5BA$1.73
Smith Crossing Apartments2 Bedroom 1.5 Bath Apartment2BR,1.5BA$1.77
The JacksonE BuildingStudio ,1BA$1.37

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Prospect, OR Rentals by Map

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See the most popular apartments and homes in Prospect, OR

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Frequently Asked Questions about Cheap Prospect Apartments

What is the Cheapest Studio apartment in Prospect?

Currently the most affordable Cheap Studio Apartment in Prospect is at Valley Pines listed at $1,004.

How much is rent for a Cheap One Bedroom Prospect Apartment?

The lowest price for a Cheap One Bedroom Prospect Apartment is $1,070 at Valley Pines.

What is the lowest price for a Cheap Two Bedroom Prospect Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Prospect is starting from $1,275 at Orchard Glen Estates.

What is the most affordable Prospect Three Bedroom Apartment?

The best deal on a cheap Prospect Three Bedroom Apartment rental is at Charles Point and starts from $1,595.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.