1San CA-1
San Luis ObispoCA93401
Cheap Homes for Rent in San Luis Obispo, CA from $1,200 (16 Rentals)
Search the lowest-cost Homes available for rent right now in San Luis Obispo.
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$1,6001 Bedroom Apartments Available Jul 11
377 Sage St, Unit Room 1
377 Sage StSan Luis Obispo, CA 93401
59 Chorro St, Unit Main
59 Chorro St
San Luis ObispoCA93405
805 Boysen Ave
San Luis ObispoCA93405
1176 Seaward St
San Luis ObispoCA93405
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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$2,6002 Bedroom Apartments Available Jul 6
980 Islay St, Unit 980
980 Islay StSan Luis Obispo, CA 93401
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$2,7002 Bedroom Apartments Available Jun 8
1533 El Tigre Ct, Unit B
1533 El Tigre CtSan Luis Obispo, CA 93405
750 Chorro St
San Luis ObispoCA93401
815 Madonna Rd
San Luis ObispoCA93405
3335 Broad St, Unit 18
3335 Broad 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.
2250 King Ct
San Luis ObispoCA93401
55 Stenner St
San Luis ObispoCA93405
424 South St
San Luis ObispoCA93401
85 Stenner St
San Luis ObispoCA93405
838 Tarragon Ln
San Luis ObispoCA93401
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.
3290 Rockview Pl, Unit 6
3290 Rockview Pl
San Luis ObispoCA93401
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San Luis Obispo, CA Local Guide
How much does it cost to rent a home in San Luis Obispo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| San Luis Obispo 2 Bedroom Homes for Rent | $3,176 | $2,400 | $4,200 |
| San Luis Obispo 3 Bedroom Homes for Rent | $4,318 | $1,700 | $5,800 |
| San Luis Obispo 4 Bedroom Homes for Rent | $6,000 | $4,400 | $9,200 |
| San Luis Obispo 5 Bedroom Homes for Rent | $9,360 | $7,900 | $10,000+ |
| San Luis Obispo 6 Bedroom Homes for Rent | $7,500 | $7,500 | $7,500 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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San Luis Obispo, CA Local Guide
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Cheapest Neighborhoods for Apartments in San Luis Obispo, CA
Pricing Updated: 06/06/2026Current 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 | $5,600 | $2,900 | 2 |
| Laguna Lake | $7,500 | $1,700 | 6 |
| Valle Vista | $8,950 | $1,200 | 5 |
Cheapest Available San Luis Obispo Apartments for Rent
The cheapest available apartment rental in San Luis Obispo, CA is a Studio unit found at Avila Apartments in Downtown SLO in the Valle Vista neighborhood priced from $1,975. Irish Hills Hamlet Apartments in the Laguna Lake neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,050. Here is today’s list of the most affordable San Luis Obispo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Avila Apartments in Downtown SLO | Avila Studio | Studio,1BA | $1,975 |
| Irish Hills Hamlet Apartments | 1BR/1.0BA | 1BR,1BA | $2,050 |
| Vintage at SLO | Stag's Leap | 2BR,2BA | $3,345 |
Best Value Apartments for Rent in San Luis Obispo, CA
As of June 06, 2026 the best value apartment in the San Luis Obispo area is the $2.70 price per square foot 2BR/2.5BA Model at de Tolosa Ranch Apartments in the in the Laguna Lake neighborhood starting from $3,445. The second greatest value San Luis Obispo apartment is the 680 Morro St Model at 680 Morro St starting at $3,500 with a $2.92 price per square foot in the Valle Vista 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. |
|---|---|---|---|
| de Tolosa Ranch Apartments | 2BR/2.5BA | 2BR,2.5BA | $2.70 |
| 680 Morro St | 680 Morro St | 2BR,1.5BA | $2.92 |
| Vintage at SLO | Stag's Leap | 2BR,2BA | $3.30 |
| Irish Hills Hamlet Apartments | 2BR/1.0BA | 2BR,1BA | $2.76 |
| Roundhouse Place | The 481 Studio | Studio ,1BA | $4.31 |
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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Best Local Schools in San Luis Obispo, CA
San Luis Obispo High
San Luis Coastal Unified School District
Public School - Grades 9-12 (1678)
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
Frequently Asked Questions about San Luis Obispo
What type of rentals are currently available in San Luis Obispo?
There are currently 198 Apartments for Rent in San Luis Obispo, CA with pricing that ranges from $950 to $8,300. There are also 62 Single Family Homes for rent, Condos, and Townhome rentals currently available in San Luis Obispo ranging from $1,200 to $12,500.
What is the current price range for Rental Homes in San Luis Obispo?
Today's rental pricing for Homes for Rent, Condos and Townhomes in San Luis Obispo ranges from $1,200 to $12,500 with an average monthly rent of $5,359.
How much are larger Three and Four Bedroom Rentals in San Luis Obispo?
For those who are looking for larger living arrangements, Three Bedroom Apartments in San Luis Obispo range from $3,200 to $4,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,700 to $5,800. Four Bedroom Single-Family rentals are also available starting from $4,400 and Four Bedroom Apartments start at $1,380.
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
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
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.