Cheap Apartments for Rent in Tempe, AZ from $600 (403 Rentals)

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

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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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The Art of the Rental Viewing: What to look for during a property tour

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Tempe, AZ Local Guide

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Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 06/13/2025

Current apartment rentals in the Tempe, AZ area range in price from $675 to $14,081 with an overall median price of $3,313. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $898, Alameda at $675, and Tally Ho Farms Raintree at $1,151. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Guadalupe$1,985$898157
Alameda$2,282$6751337
Tally Ho Farms Raintree$2,305$1,151163
Apache$2,438$700569
The Lakes$3,847$929213
South Tempe$4,390$898383
West Chandler$5,945$1,151308

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Valencia Park in the South Phoenix neighborhood priced from $745. The Molino Apartments in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Valencia ParkSonomaStudio,1BA$745
The Molino ApartmentsStudio 315sqftStudio,1BA$799
The Link ApartmentsStudio - ClassicStudio,1BA$850
Aster on UniversityS1 CStudio,1BA$865
TerrasolA11BR,1BA$879
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896
The Mod at MillsS1Studio,1BA$898
University Pointe ApartmentsStudioStudio,1BA$899
Monterey VillageS1 | StudioStudio,1BA$899
Axio Apartments1x11BR,1BA$900

Best Value Apartments for Rent in Tempe, AZ

As of June 13, 2025 the best value apartment in the Tempe area is the $1.44 price per square foot 3 Bedroom 2 Bath Unit Model at The Howe Apartments in the in the South Phoenix neighborhood starting from $1,899. The second greatest value Tempe apartment is the 2x1.51120 Sophisticated Model at Avana Chandler starting at $1,514 with a $1.35 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Howe Apartments3 Bedroom 2 Bath Unit3BR,2BA$1.44
Avana Chandler2x1.51120 Sophisticated2BR,1.5BA$1.35
Avenue 8B12BR,2BA$1.29
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.38
Monterey Apartments2x22BR,2BA$1.39
Papago Crossing2x2 Reno2BR,2BA$1.43
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Nine20 TempeB12BR,2BA$1.39
MadEry ApartmentsSaguaro2BR,1BA$1.41
TerrasolA11BR,1BA$1.42

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Tempe Overview

Tempe, Arizona is in the heart of the Phoenix metro valley and has been experiencing exciting growth in recent years. Abundant sunshine, outdoor activities, a lively restaurant and entertainment scene, burgeoning tech economy, proximity to Arizona State University and moderate cost of living all make Tempe a desirable place to live.

Why live in Tempe, AZ?

Tempe is a vibrant city that is home to one of the largest U.S. universities and offers something for everyone - from sports fans to outdoor enthusiasts to foodies and life-long learners. The city embodies a resilient and progressive spirit and is quickly attracting new residents, businesses and amenities. Choosing to live in a Tempe apartment also has the added benefit of being located close to the cities of Phoenix, Scottsdale and Mesa.

Pet Friendly Lifestyle
Tempe, AZ

Ranked #4

Among cities in Arizona for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Tempe, AZ

School data provided by Great Schools

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

Explore Tempe, AZ Rentals by Map

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See the most popular apartments and homes in Tempe, AZ

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Getting Around Tempe, AZ

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

74 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

46 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Tempe Apartments

What is a cheap apartment in Tempe?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Tempe is under $900.

What is the price of a cheap apartment in Tempe?

The cheapest apartment in Tempe is Valencia Park which is listed at $840, while the average apartment in Tempe costs $3,313.

What types of apartments are the cheapest in Tempe?

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 319 regular apartments in Tempe 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 Tempe?

Cheap apartments in Tempe have an average cost of $313 which is $3,000 cheaper than the average rent for all rentals in Tempe.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.