Cheap Apartments for Rent in Rancho Santa Margarita, CA from $1,500 (52 Rentals)

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Search the lowest-cost Apartments available for rent right now in Rancho Santa Margarita.

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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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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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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Adagio on the Green
Rent Specials
$2,712 - $4,049
Total Monthly Price

Total Monthly Price

Base Rent
$2,712 - $4,049
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Adagio on the Green

26600 Oso PkyMission Viejo, CA 92691
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 27533 Pasatiempo

$2,200

Total Monthly Price

Total Monthly Price

Base Rent
$2,200
Total Monthly Price
$2,200

Studio, 1 Bath Condo for Rent

Available Now

27533 Pasatiempo

Mission ViejoCA92692

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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eaves Mission Viejo
1 to 2 Bedroom Apartments

eaves Mission Viejo

24950 Via Florecer ViaMission Viejo, CA 92692
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Madrid
1 to 3 Bedroom Apartments

Madrid

28401 Los Alisos BlvdMission Viejo, CA 92692

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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Rancho Santa Margarita, CA Local Guide

Cheapest Neighborhoods for Apartments in Rancho Santa Margarita, CA

Pricing Updated: 04/30/2026

Current apartment rentals in the Rancho Santa Margarita, CA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Rancho Santa Margarita Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Rancho Santa Margarita Central$3,055$1,50065
Samlarc$3,055$1,50076
Las Flores$4,360$2,12570
Tijeras Creek Golf Club$4,360$1,50081

Cheapest Available Rancho Santa Margarita Apartments for Rent

 

The cheapest available apartment rental in Rancho Santa Margarita, CA is a 1 Bed unit found at Saddleback Ranch Apartments in the Mission Viejo Central neighborhood priced from $2,007. 55+ Community FountainGlen Rancho Santa Margarita in the Rancho Santa Margarita North neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $2,111. Here is today’s list of the most affordable Rancho Santa Margarita apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Saddleback Ranch Apartments1 Bed 1 Bath Up1BR,1BA$2,007
55+ Community FountainGlen Rancho Santa MargaritaSedonaStudio,1BA$2,111
Villas Aliento Apartment HomesPlan 4Studio,1BA$2,130
Heritage Square Senior Apartment HomesPlan 21BR,1BA$2,180
Heritage Park Senior Apartment HomesPlan B1BR,1BA$2,185
Villa La Paz Apartment HomesPlan D1BR,1BA$2,205
Emerald Court Apartment HomesPlan 21BR,1BA$2,205
Mosaic Apartment HomesPlan AStudio,1BA$2,245
Westridge Apartment HomesSu Casa1BR,1BA$2,250
SYCAMORE LANE APARTMENT HOMESAloeStudio,1BA$2,276

Best Value Apartments for Rent in Rancho Santa Margarita, CA

As of April 30, 2026 the best value apartment in the Rancho Santa Margarita area is the $3.02 price per square foot MOVE IN SPECIAL: One Week Off First Month's Ren... Model at River Oaks Apartments in the in the Mission Viejo North neighborhood starting from $2,895. The second greatest value Rancho Santa Margarita apartment is the Corsica Model at Siena Terrace starting at $2,699 with a $3.00 price per square foot in the Mission Viejo North neighborhood. Here is today’s list of the best values for Rancho Santa Margarita apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
River Oaks ApartmentsMOVE IN SPECIAL: One Week Off First Month's Ren...2BR,2BA$3.02
Siena TerraceCorsica2BR,2BA$3.00
The HighlandsPlan B12BR,2BA$3.45
154 Canyon Woods Apartments1 Bedroom / 1 Bath1BR,1BA$3.11
Ridgecrest ApartmentsPlan A1BR,1BA$3.33
Saddleback Ranch Apartments1 Bed 1 Bath Down1BR,1BA$2.80
Trabuco Woods Apartment Homes1 Bed 1 Bath1BR,1BA$3.25
Avila at Rancho Santa MargaritaA11BR,1BA$3.50
Sonterra at Foothill RanchJasmine1BR,1BA$3.51
Vista Del LagoCosta Renovated1BR,1BA$3.54

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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Rancho Santa Margarita, CA

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

Explore Rancho Santa Margarita, CA Rentals by Map

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See the most popular apartments and homes in Rancho Santa Margarita, CA

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Frequently Asked Questions about Cheap Rancho Santa Margarita Apartments

What is the Cheapest Studio apartment in Rancho Santa Margarita?

Currently the most affordable Cheap Studio Apartment in Rancho Santa Margarita is at 55+ Community FountainGlen Rancho Santa Margarita listed at $2,111.

How much is rent for a Cheap One Bedroom Rancho Santa Margarita Apartment?

The lowest price for a Cheap One Bedroom Rancho Santa Margarita Apartment is $1,996 at Saddleback Ranch Apartments.

What is the lowest price for a Cheap Two Bedroom Rancho Santa Margarita Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Rancho Santa Margarita is starting from $2,455 at Saddleback Ranch Apartments.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.