Cheap Apartments for Rent in Tempe, AZ from $649 (431 Rentals)

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

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Butterfield Park
Rent Specials
$899 - $1,099

Total Monthly Price

Base Rent$899 - $1,099
Total Monthly Price$899 - $1,099
1 to 2 Bedroom Apartments Available Now

Butterfield Park

1215 S Dorsey LnTempe, AZ 85281
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From Scottsdale to Peoria: Your Renter’s Guide to Phoenix's Best Cities

Looking to rent in the Phoenix area, but outside of the core? This guide covers top cities in the metroplex like Gilbert and Chandler, highlighting key differences in cost of living, commute, and community feel.

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Scottsdale Gateway
Rent Specials
$947 - $2,194

Total Monthly Price

Base Rent$947 - $2,194
Total Monthly PriceVaries
Studio to 2 Bedroom Apartments Available Now

Scottsdale Gateway

2100 N Scottsdale RdTempe, AZ 85288
Corporate Housing
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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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Avana Tempe
Rent Specials
$1,009 - $4,709

Total Monthly Price

Base Rent$1,009 - $4,709
Total Monthly PriceVaries
Studio to 2 Bedroom Apartments Available Now

Avana Tempe

30 W Carter DrTempe, AZ 85282
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Your Essential Local Experts Phoenix Relocation Guide: Housing, Utilities, and Local Tips

Your complete checklist for relocating to the Phoenix metro area. Easily navigate housing, set up electricity and gas with provider links, handle vehicle registration, and learn local regulations.

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Parq on 5th
Rent Specials
$1,084 - $1,682

Total Monthly Price

Base Rent$1,084 - $1,682
Total Monthly PriceVaries
Studio to 2 Bedroom Apartments Available Now

Parq on 5th

805 W Brown StTempe, AZ 85281
Corporate Housing
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New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Find the Best Phoenix Neighborhoods to Rent and Essential Tips on Getting Around Town, the City's Unique History, Must-try Local Food, and the Outdoor Culture.

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Eastridge Apartments
Rent Specials
$1,140 - $1,740

Total Monthly Price

Base Rent$1,140 - $1,740
Total Monthly Price$1,140 - $1,740
Studio to 2 Bedroom Apartments Available Now

Eastridge Apartments

1522 E Southern AveTempe, AZ 85282
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Tempe, AZ Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 09/19/2026

Current apartment rentals in the Tempe, AZ area range in price from $650 to $19,744 with an overall median price of $1,473. The three Tempe neighborhoods with the lowest median rent pricing are Alameda at $1,399, Apache at $1,421, and South Tempe at $1,465. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Alameda$1,399$650972
Apache$1,421$650382
South Tempe$1,465$849369
Guadalupe$1,499$849523
The Lakes$1,529$869342
West Chandler$1,630$1,139240
Tally Ho Farms Raintree$1,702$1,194110

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 $730. Manhatton in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Valencia ParkSonomaStudio, 1BA$730
Manhatton1/11BR, 1BA$750
Aster on UniversityS1 UStudio, 1BA$779
4837 E Willetta St.1BR/1.0BA1BR, 1BA$799
The Mod at MillsS1Studio, 1BA$849
TerrasolA11BR, 1BA$849
Vista Village on Van Buren1x11BR, 1BA$868
Papago Vista Apartments1BR/1.0BA1BR, 1BA$895
Butterfield ParkOne Bedroom One Bathroom1BR, 1BA$899

Best Value Apartments for Rent in Tempe, AZ

As of September 19, 2026 the best value apartment in the Tempe area is the $0.43 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the Downtown Tempe neighborhood starting from $799. The second greatest value Tempe apartment is the 1225 S Maple Ave Model at 1225 S Maple Ave, Unit A in the Downtown Tempe neighborhood starting at $2,300 with a $1.28 price per square foot. 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$0.43
1225 S Maple Ave, Unit A1225 S Maple Ave2BR, 1BA$1.28
2402 E 5th St, Unit 16182402 E 5th St4BR, 3BA$0.43
2614 North 72nd Place2BR/2.0BA2BR, 2BA$1.25
Rise Valley HeightsB1 Bronze2BR, 2BA$1.26
Candela Park2 Bedroom - 2 Bath2BR, 2BA$1.20
SoL2BR/2BA - Golden Cove2BR, 2BA$1.18
Galaxy Estates2 Beds, 1 Baths2BR, 1BA$1.28
Scene 1 Condos2BR/1.0BA2BR, 1BA$1.16
4837 E Willetta St.1BR/1.0BA1BR, 1BA$1.23

A Phoenix Expert's Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Working at a top Phoenix employer? Get the inside scoop on renting apartments in nearby neighborhoods like Encanto, Coronado, Riverside, and South Mountain Village for a great life and easy commute.

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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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Navigating the Rental Market: Tips for First-Time Renters

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Expert's Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

A Local Experts Guide to The 10 Best Neighborhoods Near Universities and Colleges in the Phoenix metro area for affordable living. Find your perfect Phoenix apartment, condo, or rental home today at ApartmentHomeliving.com

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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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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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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.

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Tempe, AZ

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

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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 $899.

What is the price of a cheap apartment in Tempe?

The cheapest apartment in Tempe is Manhatton which is listed at $750, while the average apartment in Tempe costs $1,473.

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 985 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 $757 which is $716 cheaper than the average rent for all rentals in Tempe.

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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