Cheap Apartments for Rent in Santa Margarita, CA from $600 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in 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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La Vista
$1,939 - $7,984
Total Monthly Price

Total Monthly Price

Base Rent
$1,939 - $7,984
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

La Vista

740 S Western AveSanta Maria, CA 93458
Affordability
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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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424 East Mill Street
1 to 4 Bedroom Apartments

424 East Mill Street

418-424 E Mill StSanta Maria, CA 93454
Student Housing

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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River Walk Terrace
1 to 2 Bedroom Apartments

River Walk Terrace

120 Niblick RdPaso Robles, CA 93446
Senior Living
  • Utilities Included
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Gateway Apartments
Studio to 2 Bedroom Apartments

Gateway Apartments

101 N BroadwaySanta Maria, CA 93454
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University Chorro Commons
1 to 2 Bedroom Apartments

University Chorro Commons

263 N ChorroSan Luis Obispo, CA 93405
Student Housing
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Roundhouse Place
Studio to 3 Bedroom Apartments

Roundhouse Place

2220-2224 Emily StSan Luis Obispo, CA 93401

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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Harvest Lofts
Studio to 1 Bedroom Apartments

Harvest Lofts

845 Madonna RdSan Luis Obispo, CA 93405
  • Utilities Included
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2710 Spyglass Dr
1 Bedroom Apartments

2710 Spyglass Dr

2710 Spyglass DrShell Beach, CA 93449
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Las Lomas Village
1 to 3 Bedroom Apartments

Las Lomas Village

9245 Ciruela WayAtascadero, CA 93422
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Reserve at Vinedo
1 to 3 Bedroom Apartments

Reserve at Vinedo

1573 Parkview LnPaso Robles, CA 93446

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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Showing Results 1-40, Page 1 of 1

Santa Margarita, CA Local Guide

Cheapest Available Santa Margarita Apartments for Rent and Nearby

 

The cheapest available apartment rental in Santa Margarita, CA is a Studio unit found at Wineman in the Valle Vista neighborhood priced from $1,250. Villa del Sol Senior Apts 55+ in the Harvest Glen neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,350. Here is today’s list of the most affordable Santa Margarita apartments for rent:

Apartment ListingModel NameBed/BathPriced From
WinemanThird FloorStudio,1BA$1,250
Villa del Sol Senior Apts 55+Plan 9Studio,1BA$1,350
Mustang I Townhome4x1 Flat4BR,1BA$1,380
Villa Paseo PalmsStudioStudio,1BA$1,396
Casa Del Mar Condominiums1bed1bath1BR,1BA$1,450
Sierra Sands1 Bedroom 1 Bath1BR,1BA$1,820
La VistaStudioStudio,1BA$1,939
Avila Apartments in Downtown SLOAvila StudioStudio,1BA$1,975
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
Hancock Terrace1x1 Deco1BR,1BA$1,999

Best Value Apartments for Rent in Santa Margarita, CA and Nearby

As of April 12, 2026 the best value apartment in the Santa Margarita area is the $2.47 price per square foot 3/2 Flat Model at La Plaza Villas in the in the Arroyo Grande Nipomo neighborhood starting from $2,595. The second greatest value Santa Margarita apartment is the 2 Bedroom 2 Bath Model at Villa Del Rio starting at $2,895 with a $2.97 price per square foot in the The Summit neighborhood. Here is today’s list of the best values for Santa Margarita apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
La Plaza Villas3/2 Flat3BR,2BA$2.47
Villa Del Rio2 Bedroom 2 Bath2BR,2BA$2.97
ReNew AtascaderoTwo Bedroom Apartment2BR,2BA$2.93
Sierra Sands2 Bedroom 1 Bath2BR,1BA$2.31
The Oaks at Jornada2bdx2bth Renovated, upstairs, electric2BR,2BA$2.74
Bordeaux House Apartments212BR,1BA$2.44
Dry Creek Apartments2x12BR,1BA$2.53
Casa Del Mar Condominiums2bed2bath2BR,2BA$2.35
Arrive Paso RoblesThe Isabella1BR,1BA$2.92
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2.93

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

Explore Santa Margarita, CA Rentals by Map

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

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Frequently Asked Questions about Cheap Santa Margarita Apartments

What is the Cheapest Studio apartment in Santa Margarita?

Currently the most affordable Cheap Studio Apartment in Santa Margarita is at Wineman listed at $1,250.

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

The lowest price for a Cheap One Bedroom Santa Margarita Apartment is $1,450 at Casa Del Mar Condominiums.

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

Today's best deal for a Cheap Two Bedroom Apartment in Santa Margarita is starting from $1,729 at Villa Paseo Palms.

What is the most affordable Santa Margarita Three Bedroom Apartment?

The best deal on a cheap Santa Margarita Three Bedroom Apartment rental is at La Plaza Villas and starts from $2,250.

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

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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.