1San Luis Obispo
San Luis ObispoCA93405
Cheap Homes for Rent in San Luis Obispo, CA from $1,200 (5 Rentals)
Search the lowest-cost Homes available for rent right now in San Luis Obispo.
3051 Augusta 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.
124 Fontana Ave
San Luis ObispoCA93401
1051 1/2 Buchon 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.
392 Santa Maria Ave
San Luis ObispoCA93405
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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 | $3,012 | $2,200 | $4,500 |
| San Luis Obispo 3 Bedroom Homes for Rent | $4,001 | $2,995 | $5,250 |
| San Luis Obispo 4 Bedroom Homes for Rent | $4,635 | $3,500 | $5,650 |
| San Luis Obispo 5 Bedroom Homes for Rent | $4,990 | $3,950 | $6,200 |
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
- San Luis Obispo Neighborhoods
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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 |
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.
Read Article
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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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!
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Frequently Asked Questions about San Luis Obispo
What type of rentals are currently available in San Luis Obispo?
There are currently 199 Apartments for Rent in San Luis Obispo, CA with pricing that ranges from $899 to $6,000. There are also 56 Single Family Homes for rent, Condos, and Townhome rentals currently available in San Luis Obispo ranging from $1,200 to $6,200.
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 $6,200 with an average monthly rent of $3,719.
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 $2,900 to $3,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,995 to $5,250. Four Bedroom Single-Family rentals are also available starting from $3,500 and Four Bedroom Apartments start at $1,490.
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.