1050 Foothill Blvd
San Luis ObispoCA93405
Cheap Apartments for Rent in San Luis Obispo, CA from $899 (43 Rentals)
Search the lowest-cost Apartments available for rent right now in San Luis Obispo.
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$1,099 - $3,720Studio to 1 Bedroom Apartments Available Now
Artisan Apartments
564 Higuera StSan Luis Obispo, CA 93401
1San Luis Obispo
San Luis ObispoCA93405
969 Pismo St
San Luis ObispoCA93401
3051 Augusta St
San Luis ObispoCA93401
1406 Morro St
San Luis ObispoCA93401
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$1,500Studio Apartments Available Now
Wineman
849 Higuera StSan Luis Obispo, CA 93401
1113-697 Broad St
San Luis ObispoCA93401
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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$1,8001 Bedroom Apartment Available Sep 10
695 Pismo Street, Unit Pismo
695 Pismo StreetSan Luis Obispo, CA 93401
369 Sandercock St
San Luis ObispoCA93401
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$1,900Studio Apartments Available Sep 25
Peach Street
660 Peach StSan Luis Obispo, CA 93401
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$2,000
Total Monthly Price
Base Rent$2,000
Total Monthly Price$2,000
2725 Augusta St, Unit 2725A August Street
2725 Augusta StSan Luis Obispo, CA 93401
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$2,050 - $2,9001 to 3 Bedroom Apartments Available Now
Irish Hills Hamlet Apartments
11343 Los Osos Valley RdSan Luis Obispo, CA 93405
411 Foothill Blvd
San Luis ObispoCA93405
1109 Pismo St
San Luis ObispoCA93401
607 High St
San Luis ObispoCA93401
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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$2,350 - $2,825Studio Apartments Available Now
The Junction (2120 Santa Barbara Ave)
2120 Santa Barbara AveSan Luis Obispo, CA 93401
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$2,375
Total Monthly Price
Base Rent$2,375
Total Monthly Price$2,375
392 Santa Maria Ave, Unit A
392 Santa Maria AveSan Luis Obispo, CA 93405
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$2,425 - $3,8251 to 2 Bedroom Apartments Available Now
de Tolosa Ranch Apartments
1704 Tonini DrSan Luis Obispo, CA 93405
506 High St
San Luis ObispoCA93401
726 Johnson Ave
San Luis ObispoCA93401
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$2,500
Total Monthly Price
Base Rent$2,500
Total Monthly Price$2,500
645 Palm St, Unit 1
645 Palm StSan Luis Obispo, CA 93401
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1 to 2 Bedroom Apartments
Murray Street Station Apartments
1262 Murray StSan Luis Obispo, CA 93405
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1 Bedroom Apartments
Sheri Apartments
721 Johnson AveSan Luis Obispo, CA 93401
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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1 to 2 Bedroom Apartments
Fairview Apartments
1630 Fairview StSan Luis Obispo, CA 93401
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1 to 3 Bedroom Apartments
The Village at Broad Street
2240 Emily StSan Luis Obispo, CA 93401
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1 to 2 Bedroom Apartments
Bullock Garden Apartments
3350 Bullock LnSan Luis Obispo, CA 93401
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1 to 3 Bedroom Apartments
555 Westmont
555 Westmont AveSan Luis Obispo, CA 93405
124 Fontana Ave
San Luis ObispoCA93401
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1 to 2 Bedroom Apartments
University Chorro Commons
263 N ChorroSan Luis Obispo, CA 93405
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Studio to 3 Bedroom Apartments
Roundhouse Place
2220-2224 Emily StSan Luis Obispo, CA 93401
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Studio to 1 Bedroom Apartments
Harvest Lofts
845 Madonna RdSan Luis Obispo, CA 93405
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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1 to 3 Bedroom Apartments
1290 Murray Avenue
1290 Murray AveSan Luis Obispo, CA 93405
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1 to 2 Bedroom Apartments
Garfield Arms Apartments
738 Grand AveSan Luis Obispo, CA 93401
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Studio to 1 Bedroom Apartments
1249 Palm St
1249 Palm StSan Luis Obispo, CA 93401
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1 to 2 Bedroom Apartments
0053 2935 Augusta #1-8
2935 Augusta StSan Luis Obispo, CA 93401
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1 to 2 Bedroom Apartments
2038 Chorro St
2038 Chorro StSan Luis Obispo, CA 93401
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2 Bedroom Apartments
742 Boysen Ave
742 Boysen AveSan Luis Obispo, CA 93405
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1 to 2 Bedroom Apartments
College Gardens Apartments
284 N Chorro StSan Luis Obispo, CA 93405
1051 1/2 Buchon St
San Luis ObispoCA93401
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.
392 Santa Maria Ave
San Luis ObispoCA93405
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1 to 2 Bedroom Apartments
421 Dana St
421 Dana StSan Luis Obispo, CA 93401
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1 to 2 Bedroom Apartments
2800 Broad St
2800 Broad StSan Luis Obispo, CA 93401
Showing Results 1-43, Page 1 of 1
San Luis Obispo, CA Local Guide
How much does it cost to rent an apartment in San Luis Obispo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap San Luis Obispo Studio Apartments | $2,322 | $1,099 | $2,855 |
| Cheap San Luis Obispo 1 Bedroom Apartments | $2,665 | $899 | $3,720 |
| Cheap San Luis Obispo 2 Bedroom Apartments | $2,682 | $1,150 | $3,825 |
| Cheap San Luis Obispo 3 Bedroom Apartments | $3,568 | $2,900 | $3,950 |
| Cheap San Luis Obispo 4 Bedroom Apartments | $2,993 | $1,490 | $6,000 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in San Luis Obispo
See all Apartments in San Luis ObispoExplore San Luis Obispo
San Luis Obispo, CA Local Guide
Written By:
Staff Writer Local Guide Expert
- San Luis Obispo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Neighborhoods for Apartments in San Luis Obispo, CA
Pricing Updated: 09/07/2026Current apartment rentals in the San Luis Obispo, CA area range in price from $899 to $5,400 with an overall median price of $2,722. Here is today’s list neighborhoods with the lowest median pricing for San Luis Obispo Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Valle Vista | $2,672 | $899 | 43 |
| Laguna Lake | $2,750 | $1,099 | 33 |
| 3592 Broad | $3,320 | $2,000 | 2 |
Cheapest Available San Luis Obispo Apartments for Rent
The cheapest available apartment rental in San Luis Obispo, CA is a 1 Bed unit found at Irish Hills Hamlet Apartments in the San Luis Obispo neighborhood priced from $2,050. Mustang I Townhome in the San Luis Obispo neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $2,102. Here is today’s list of the most affordable San Luis Obispo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Irish Hills Hamlet Apartments | 1BR/1.0BA | 1BR,1BA | $2,050 |
| Mustang I Townhome | Studio Creekside Renovated | Studio,1BA | $2,102 |
| 0053 2935 Augusta #1-8 | 2935 Augusta Street | 2BR,1BA | $2,200 |
| College Gardens Apartments | College Gardens Apartments - Two bed apartment ... | 2BR,1BA | $2,300 |
| 2038 Chorro St | 2BR/1.0BA | 2BR,1BA | $2,300 |
| de Tolosa Ranch Apartments | 1BR/1.0BA | 1BR,1BA | $2,425 |
| The Junction (2120 Santa Barbara Ave) | Sawtooth | Studio,1BA | $2,625 |
Best Value Apartments for Rent in San Luis Obispo, CA
As of September 07, 2026 the best value apartment in the San Luis Obispo area is the $2.93 price per square foot 3BR/3.0BA Model at Twin Creeks in the in the San Luis Obispo neighborhood starting from $3,850. The second greatest value San Luis Obispo apartment is the 680 Morro St Model at 680 Morro St, Unit B starting at $3,500 with a $2.92 price per square foot in the San Luis Obispo neighborhood. Here is today’s list of the best values for San Luis Obispo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Twin Creeks | 3BR/3.0BA | 3BR,3BA | $2.93 |
| 680 Morro St, Unit B | 680 Morro St | 2BR,1.5BA | $2.92 |
| Palomar at SLO | 4BR/2BA - Foothill | 4BR,2BA | $1.47 |
| Chorro at SLO | 4BR/2BA - Morro | 4BR,2BA | $1.58 |
| 1271 Murray Ave, Unit #B | 1271 Murray Ave | 2BR,2BA | $2.80 |
| 607 Grand Apartments | 607 Grand Apts. - CalPoly Grand Ave. Entrance | 2BR,1BA | $2.69 |
| Irish Hills Hamlet Apartments | 2BR/1.0BA | 2BR,1BA | $2.82 |
| de Tolosa Ranch Apartments | 1BR/1.0BA | 1BR,1BA | $3.21 |
| 645 Palm St, Unit 1 | 645 Palm St | 2BR,1BA | $3.33 |
| 392 Santa Maria Ave, Unit A | 392 Santa Maria Ave | 1BR,1BA | $5.28 |
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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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.
Read ArticleReal 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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San Luis Obispo Overview
A college town that lies midway between San Francisco and Los Angeles, San Luis Obispo is the perfect place to settle down. With its temperate climate, natural spaces and wine-country charm, the city pairs cultural enrichment with all-out fun. Plenty of options in great San Luis Obispo apartments make settling here easy.
Why live in San Luis Obispo, CA?
" San Luis Obispo is a special place to live, and the recognition the town receives confirms it. It is regularly listed among the most romantic towns in the United States. In addition, it is considered one of the best college cities and one of the best places to visit. It is also named as one of the healthiest and friendliest towns. San Luis Obispo residents always have something to do and a beautiful, organic environment in which to do it. They can visit nearby wineries, hike or bike through beautiful, unspoiled spaces, relax on an uncrowded beach or visit a local art center or museum. "
Best Local Schools in San Luis Obispo, CA
Teach Elementary School
San Luis Coastal Unified School District
Public School - Grades K-5 (193)
9 out of 10
San Luis Obispo High
San Luis Coastal Unified School District
Public School - Grades 9-12 (1678)
10 out of 10
Laguna Middle School
San Luis Coastal Unified School District
Public School - Grades 6-8 (780)
9 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore San Luis Obispo, CA Rentals by Map
See the most popular apartments and homes in San Luis Obispo, CA
Frequently Asked Questions about Cheap San Luis Obispo Apartments
What is a cheap apartment in San Luis Obispo?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in San Luis Obispo is under $2,625.
What is the price of a cheap apartment in San Luis Obispo?
The cheapest apartment in San Luis Obispo is Irish Hills Hamlet Apartments which is listed at $2,050, while the average apartment in San Luis Obispo costs $2,722.
What types of apartments are the cheapest in San Luis Obispo?
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 15 regular apartments in San Luis Obispo 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 San Luis Obispo?
Cheap apartments in San Luis Obispo have an average cost of $817 which is $1,905 cheaper than the average rent for all rentals in San Luis Obispo.
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
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.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.