Cheap Apartments for Rent near Santa Margarita, CA from $1,030 (38 Rentals)

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Search the lowest-cost Apartments available for rent right now in Santa Margarita.

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La Vista
$1,632 - $5,808
Total Monthly Price

Total Monthly Price

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$1,632 - $5,808
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Studio to 3 Bedroom Apartments Available Now

La Vista

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

424 East Mill Street

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

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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University Chorro Commons
1 to 2 Bedroom Apartments

University Chorro Commons

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

Roundhouse Place

2220-2224 Emily StSan Luis Obispo, CA 93401
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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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Las Lomas Village
1 to 3 Bedroom Apartments

Las Lomas Village

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

Reserve at Vinedo

1573 Parkview LnPaso Robles, CA 93446
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742 Boysen Ave
2 Bedroom Apartments

742 Boysen Ave

742 Boysen AveSan 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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421 Dana St
1 to 2 Bedroom Apartments

421 Dana St

421 Dana StSan Luis Obispo, CA 93401
Showing Results 1-38, 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 1 Bed unit found at Villa del Sol Senior Apts 55+ in the Santa Maria neighborhood priced from $1,250. River Walk Terrace in the Paso Robles neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,501. Here is today’s list of the most affordable Santa Margarita apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa del Sol Senior Apts 55+Plan 61BR,1BA$1,250
River Walk TerraceOne Bedroom 60% AMI1BR,1BA$1,501
Villa Paseo PalmsOne Bedroom1BR,1BA$1,556
La VistaStudioStudio,1BA$1,632
Hancock Terrace0x1 SpeakStudio,1BA$1,799
Cassia ApartmentsOne Bed B1BR,1BA$1,852
Dry Creek Apartments2x12BR,1BA$1,900
Laguna Terrace ApartmentsTwo/One2BR,1BA$1,950
Alturas Paso Robles Apartment Homes1/1A1BR,1BA$1,995
240 Spring StreetDowntown Paso Robles 2 Bedroom 1 Bathroom with ...2BR,1BA$2,050

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

As of August 28, 2026 the best value apartment in the Santa Margarita area is the $1.47 price per square foot 4BR/2BA - Foothill Model at Palomar at SLO in the in the San Luis Obispo neighborhood starting from $1,695. The second greatest value Santa Margarita apartment is the The Grace Model at Arrive Paso Robles starting at $2,675 with a $2.47 price per square foot in the Paso Robles 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.
Palomar at SLO4BR/2BA - Foothill4BR,2BA$1.47
Arrive Paso RoblesThe Grace2BR,2BA$2.47
Blue OakThe Pinot Gris2BR,2BA$2.63
Chorro at SLO4BR/2BA - Morro4BR,2BA$1.58
La Plaza Villas3/1 Flat3BR,1BA$2.41
Laguna Terrace ApartmentsTwo/One2BR,1BA$2.27
Dry Creek Apartments2x12BR,1BA$2.24
240 Spring StreetDowntown Paso Robles 2 Bedroom 1 Bathroom with ...2BR,1BA$2.73
River Walk TerraceOne Bedroom 60% AMI1BR,1BA$2.39
Villa Paseo PalmsOne Bedroom1BR,1BA$2.69

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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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!

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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 Villa del Sol Senior Apts 55+ listed at $1,350.

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

The lowest price for a Cheap One Bedroom Santa Margarita Apartment is $1,250 at Villa del Sol Senior Apts 55+.

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 $1,681 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 $2,295.

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

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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.

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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.

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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.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.