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Cheap Apartments for Rent in San Luis Obispo, CA from $1,200 (16 Rentals)
Search the lowest-cost Apartments available for rent right now in San Luis Obispo.
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905 Madonna Rd
San Luis ObispoCA93405
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$1,772 - $2,019Studio Apartments Contact Us For Availability
Mustang Village
1 Mustang DrSan Luis Obispo, CA 93405
977-979 Pismo 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.
1406 Morro St
San Luis ObispoCA93401
66 Chorro St
San Luis ObispoCA93405
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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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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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Showing Results 1-16, Page 1 of 1
San Luis Obispo, CA Local Guide
Los Osos Valley Sunset by Jesse Palmer is licensed under CC BY 2.0
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 | $2,101 | $1,250 | $2,725 |
| Cheap San Luis Obispo 1 Bedroom Apartments | $2,186 | $1,675 | $3,330 |
| Cheap San Luis Obispo 2 Bedroom Apartments | $3,227 | $2,300 | $6,310 |
| Cheap San Luis Obispo 3 Bedroom Apartments | $4,431 | $3,500 | $6,295 |
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
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Cheapest Neighborhoods for Apartments in San Luis Obispo, CA
Pricing Updated: 11/01/2025Current apartment rentals in the San Luis Obispo, 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 San Luis Obispo Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| 3592 Broad | $3,480 | $1,995 | 6 |
| Laguna Lake | $3,500 | $1,250 | 28 |
| Valle Vista | $6,295 | $1,250 | 23 |
Cheapest Available San Luis Obispo Apartments for Rent
The cheapest available apartment rental in San Luis Obispo, CA is a Studio unit found at Wineman in the Valle Vista neighborhood priced from $1,250. Peach Street in the Valle Vista neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,850. Here is today’s list of the most affordable San Luis Obispo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Wineman | Third Floor | Studio,1BA | $1,250 |
| Peach Street | STUDIO | Studio,1BA | $1,850 |
| Avila Senior Living at Downtown SLO | Avila Studio | 1BR,1BA | $1,975 |
| Harvest Lofts | Studio | Studio,1BA | $2,050 |
| Irish Hills Hamlet Apartments | 1BR/1.0BA | 1BR,1BA | $2,050 |
Best Value Apartments for Rent in San Luis Obispo, CA
As of November 01, 2025 the best value apartment in the San Luis Obispo area is the $2.86 price per square foot 3BR/2.0BA Model at Irish Hills Hamlet Apartments in the in the Laguna Lake neighborhood starting from $3,500. The second greatest value San Luis Obispo apartment is the 2BR/2.5BA Model at de Tolosa Ranch Apartments starting at $3,175 with a $2.79 price per square foot in the Laguna Lake 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. |
|---|---|---|---|
| Irish Hills Hamlet Apartments | 3BR/2.0BA | 3BR,2BA | $2.86 |
| de Tolosa Ranch Apartments | 2BR/2.5BA | 2BR,2.5BA | $2.79 |
| Vintage at SLO | The Edna | 2BR,2.5BA | $3.30 |
| 1271 Murray Ave, Unit #C | 1271 Murray Ave | 2BR,1BA | $2.78 |
| Twin Creeks Apartments | 2BR/1.5BA | 2BR,1.5BA | $3.87 |
| Roundhouse Place | The 576 Studio | Studio ,1BA | $3.64 |
| Connect SLO | The Studio | Studio ,1BA | $4.50 |
| Artisan Apartments | Studio | Studio ,1BA | $5.30 |
| Peach Street | STUDIO | Studio ,1BA | $4.28 |
| Wineman | Third Floor | Studio ,1BA | $5.84 |
Apartment Common Area Rules: What Renters Need to Know
From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.
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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.
Read ArticleThe 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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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
San Luis Obispo High
San Luis Coastal Unified School District
Public School - Grades 9-12 (1644)
10 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
Getting Around San Luis Obispo, CA
Walk Score®
67 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
77 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
27 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap San Luis Obispo Apartments
What is the Cheapest Studio apartment in San Luis Obispo?
Currently the most affordable Cheap Studio Apartment in San Luis Obispo is at Wineman listed at $1,250.
How much is rent for a Cheap One Bedroom San Luis Obispo Apartment?
The lowest price for a Cheap One Bedroom San Luis Obispo Apartment is $1,975 at Avila Senior Living at Downtown SLO.
What is the lowest price for a Cheap Two Bedroom San Luis Obispo Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in San Luis Obispo is starting from $2,200 at 421 Dana St.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.