Cheap Apartments for Rent in Tempe, AZ from $300 (323 Rentals)

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

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Tempe, AZ Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 09/12/2025

Current apartment rentals in the Tempe, AZ area range in price from $350 to $24,161 with an overall median price of $2,960. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $350, The Lakes at $947, and Tally Ho Farms Raintree at $1,181. 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$1,945$350119
The Lakes$2,005$947210
Tally Ho Farms Raintree$2,060$1,18180
Alameda$2,099$7251156
Apache$2,355$725625
South Tempe$2,762$898408
West Chandler$7,500$1,181299

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 $780. Santorini Villa Apartments in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed 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$780
Santorini Villa Apartments1 Bedroom1BR,1BA$799
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$799
Villetta Apartment HomesA21BR,1BA$828
Terra VidaSAStudio,1BA$880
MargoStudioStudio,1BA$899
WaterstoneStudio S1-450Studio,1BA$925
Papago VistaJunior One Bedroom1BR,1BA$925

Best Value Apartments for Rent in Tempe, AZ

As of September 12, 2025 the best value apartment in the Tempe area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Tempe apartment is the Two Bedroom Model at Villas at Papago starting at $1,225 with a $1.08 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.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
Villas at PapagoTwo Bedroom2BR,1BA$1.08
Avenue 8B12BR,2BA$1.22
Sago GardensTownhome2BR,1BA$1.37
New Horizons2 Bed 2 Bath2BR,2BA$1.36
University ParkTwo Bedroom Two Bathroom Ensuite2BR,2BA$1.25
Sofia ApartmentsThe Bronte (2x1)2BR,1BA$1.34
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.17
Villatree ApartmentsOne Bedroom One Bath1BR,1BA$1.35
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.25

Quick Rent Budget Calculator

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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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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 #2

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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Tempe, AZ Apartments Map
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Tempe, AZ Rental Homes Map

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 $925.

What is the price of a cheap apartment in Tempe?

The cheapest apartment in Tempe is Santorini Villa Apartments which is listed at $799, while the average apartment in Tempe costs $2,960.

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 314 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 $374 which is $2,586 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.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.