Cheap Apartments for Rent in the Downtown Santa Monica Neighborhood of Santa Monica, CA from $500 (92 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Santa Monica area of Santa Monica.

property at 2002 4th St

$1,600

Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600

1 Bedroom, 1 Bath Condo for Rent

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2002 4th St, Unit 000, Unit 000

2002 4th St
Santa MonicaCA90405
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1534 11th St
$2,138 - $3,450
Total Monthly Price

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$2,138 - $3,450
Total Monthly Price
$2,138 - $3,450
Studio to 2 Bedroom Apartment Available Now

1534 11th St

1534 11th StSanta Monica, CA 90401
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Junction Santa Monica
Rent Specials
$2,406 - $4,382
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$2,406 - $4,382
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Studio to 3 Bedroom Apartments Available Now

Junction Santa Monica

1641 Lincoln BlvdSanta Monica, CA 90404
Affordability
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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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Gibson Santa Monica
Rent Specials
$2,472 - $5,725
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$2,472 - $5,725
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Studio to 2 Bedroom Apartments Available Now

Gibson Santa Monica

1317 7Th StSanta Monica, CA 90401
Eco-Friendly
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Living at Santa Monica
Rent Specials
$2,512 - $4,689
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$2,512 - $4,689
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Studio to 2 Bedroom Apartments Available Now

Living at Santa Monica

1519 6th StSanta Monica, CA 90401
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Catherine Santa Monica
Rent Specials
$2,846 - $7,147
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$2,846 - $7,147
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Studio to 3 Bedroom Apartments Available Now

Catherine Santa Monica

1625 Lincoln BlvdSanta Monica, CA 90404
Pet Friendly
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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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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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501 Broadway
Studio to 3 Bedroom Apartments

501 Broadway

501 BroadwaySanta Monica, CA 90401
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Belmar Apartments
Studio to 3 Bedroom Apartments

Belmar Apartments

1725 Ocean AveSanta Monica, CA 90401
  • Utilities Included
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1015 2nd Street
Studio to 2 Bedroom Apartments

1015 2nd Street

1015 2nd StSanta Monica, CA 90403
Student Housing
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1218 6th St
Studio Apartments

1218 6th St

1218 6th StSanta Monica, CA 90401
  • Utilities Included
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Lincoln SM
Studio to 2 Bedroom Apartments

Lincoln SM

829-829 Broadway StSanta Monica, CA 90401
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Ocean Park Apartments
Studio to 2 Bedroom Apartments

Ocean Park Apartments

2427 W 4th StSanta Monica, CA 90405
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1528 12th St
1 Bedroom Apartments

1528 12th St

1528 12th StSanta Monica, CA 90401
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VRS Portofino LLC
Studio to 2 Bedroom Apartments

VRS Portofino LLC

1450 5th StSanta Monica, CA 90401
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1843 7th St
1 Bedroom Apartments

1843 7th St

1843 7th StSanta Monica, CA 90401

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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1437-1443 9th St
1 to 2 Bedroom Apartments

1437-1443 9th St

1437-1443 9th StSanta Monica, CA 90401
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1661 Appian Way
Studio Apartments

1661 Appian Way

1661 Appian WaySanta Monica, CA 90401
Corporate Housing
  • Utilities Included
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PR SM Biella LLC
Studio to 2 Bedroom Apartments

PR SM Biella LLC

1411 7th StSanta Monica, CA 90401
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303 California Ave
Studio to 2 Bedroom Apartments

303 California Ave

303 California AveSanta Monica, CA 90403
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1455 9th Street
1 Bedroom Apartments

1455 9th Street

1455 9th StSanta Monica, CA 90401
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Bay on 6th
Studio to 2 Bedroom Apartments

Bay on 6th

1920 6th AveSanta Monica, CA 90405
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4TH2015
1 to 3 Bedroom Apartments

4TH2015

2015-2019 4th StSanta Monica, CA 90405
  • Utilities Included
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1231 5th St
Studio to 1 Bedroom Apartments

1231 5th St

1231 5th StSanta Monica, CA 90401
  • Utilities Included
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1537 7th
Studio to 3 Bedroom Apartments

1537 7th

1537 7th StSanta Monica, CA 90401

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 1-50, Page 1 of 2

Downtown Santa Monica, Santa Monica, CA Local Guide

Cheapest Available Downtown Santa Monica Apartments for Rent

 

The cheapest available apartment rental in the Downtown Santa Monica area of Los Angeles, CA is a Studio unit found at 1117 3rd St priced from $1,591. 1015 2nd Street has the second lowest priced unit, which is a Studio apartment currently listed from $1,598. Here are the most affordable Downtown Santa Monica apartments for rent in Los Angeles, CA:

Apartment ListingModel NameBed/BathPriced From
1117 3rd StRestricrted Income StudioStudio,1BA$1,591
1015 2nd Street0BR/1.0BAStudio,1BA$1,598
123 California Ave0BR/1.0BAStudio,1BA$1,748
1517 11th StStudioStudio,1BA$1,800
Criterion PromenadeStudio AStudio,1BA$2,095
Bay on 6thStudioStudio,1BA$2,299
Lugano Apartments PR III LLCLugano StudioStudio,1BA$2,371
325 Bay St.1211BR,1BA$2,375
Junction Santa MonicaStudio SD/SEStudio,1BA$2,406

Best Value Apartments for Rent in Downtown Santa Monica, CA

As of April 21, 2026 the best value apartment in the Downtown Santa Monica area is the $4.18 price per square foot C Model at 1828 10th St in the in the Pico neighborhood starting from $4,595. The second greatest value Downtown Santa Monica apartment is the 2BR/2.0BA Model at 123 California Ave starting at $3,598 with a $3.51 price per square foot in the Wilshire neighborhood. Here is today’s list of the best values for Downtown Santa Monica apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1828 10th StC3BR,2BA$4.18
123 California Ave2BR/2.0BA2BR,2BA$3.51
512 Bay St, Unit 3512 Bay St2BR,1BA$4.06
Santa Monica Mariner Village1 Bed 1 Bath1BR,1BA$3.98
1930 Ocean Ave203 Ocean View1BR,1BA$4.40
Pacific Luxury Investments, LLCR2BR,1BA$3.99
1823 7th StModel2BR,1BA$4.14
1438 10th St#3 (lower unit)1BR,1BA$4.00
325 Bay St.1211BR,1BA$4.36
1534 11th St1534 11th StStudio ,1BA$4.28

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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Quick Rent Budget Calculator

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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Pet Friendly Lifestyle
Downtown Santa Monica, Santa Monica, CA

Ranked #4

Among cities in California for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Santa Monica Apartments

What is a cheap apartment in Downtown Santa Monica?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Santa Monica is under $2,406.

What is the price of a cheap apartment in Downtown Santa Monica?

The cheapest apartment in Downtown Santa Monica is 1517 11th St which is listed at $2,250, while the average apartment in Downtown Santa Monica costs $5,269.

What types of apartments are the cheapest in Downtown Santa Monica?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 18 regular apartments in Downtown Santa Monica that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Santa Monica?

Cheap apartments in Downtown Santa Monica have an average cost of $2,015 which is $3,254 cheaper than the average rent for all rentals in Downtown Santa Monica.

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.

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