Cheap Apartments for Rent in the Downtown Tempe Neighborhood of Tempe, AZ from $300 (221 Rentals)

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

property at 1409 S Mill Ave

$599

Total Monthly Price

Total Monthly Price

Base Rent
$599
Total Monthly Price
$599

Studio, 1 Bath Condo for Rent

Available Apr 5

1409 S Mill Ave, Unit 2

1409 S Mill Ave
TempeAZ85281
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El Diablo Apartments
Rent Specials
$885 - $1,295
Total Monthly Price

Total Monthly Price

Base Rent
$825 - $1,235
Required Monthly Fees
$60
Total Monthly Price
$885 - $1,295
1 to 2 Bedroom Apartments Available Now

El Diablo Apartments

1201 S McCLintock DrTempe, AZ 85281
Student Housing
  • Verified
  • Customer Reviewed
  • Utilities Included

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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MadEry Apartments
Rent Specials
$999 - $1,361
Total Monthly Price

Total Monthly Price

Base Rent
$794 - $1,156
Required Monthly Fees
$205
Total Monthly Price
$999 - $1,361
1 to 2 Bedroom Apartments Available Now

MadEry Apartments

1865 E Broadway RdTempe, AZ 85282
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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Parq on 5th
$1,021 - $1,553
Total Monthly Price

Total Monthly Price

Base Rent
$940 - $1,472
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Parq on 5th

805 W Brown StTempe, AZ 85281
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 528 W Howe St

$1,025

Total Monthly Price

Total Monthly Price

Base Rent
$1,025
Total Monthly Price
$1,025

1 Bedroom, 1 Bath Townhome for Rent

Available Now

528 W Howe St

TempeAZ85281

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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Eastridge Apartments
Rent Specials
$1,050 - $1,885
Total Monthly Price

Total Monthly Price

Base Rent
$1,020 - $1,855
Required Monthly Fees
$30
Total Monthly Price
$1,050 - $1,885
Studio to 2 Bedroom Apartments Available Now

Eastridge Apartments

1522 E Southern AveTempe, AZ 85282
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 330 S Beck Ave

$1,050 - $1,350

1 To 2 Bedroom Rentals

Available Now

330 S Beck Ave

TempeAZ85281
property at 700 W University Dr

$1,075 - $1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,075 - $1,100
Total Monthly Price
$1,075 - $1,100

1 To 2 Bedroom Condos for Rent

Available Now

700 W University Dr

TempeAZ85281
property at 906 S Farmer Ave

$1,075

Total Monthly Price

Total Monthly Price

Base Rent
$1,075
Total Monthly Price
$1,075

2 Bedroom, 1 Bath Home for Rent

Available Now

906 S Farmer Ave, Unit C

906 S Farmer Ave
TempeAZ85281

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Showing Results 1-50, Page 1 of 5

Downtown Tempe, Tempe, AZ Local Guide

Cheapest Available Downtown Tempe Apartments for Rent

 

The cheapest available apartment rental in the Downtown Tempe area of Phoenix, AZ is a 1 Bed unit found at The Atrium priced from $850. Villas on 4th has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
The Atrium1x11BR,1BA$850
Villas on 4thStudioStudio,1BA$875
El Diablo Apartments1BR/1.0BA1BR,1BA$885
Willowbrook Apartments1261BR,1BA$895
Grandes CortesStudioStudio,1BA$899
MargoStudioStudio,1BA$929
SoL4BR/4BA - Silver4BR,4BA$940
The Place of TempeStudioStudio,1BA$950
Sago GardensTownhome2BR,1BA$950

Best Value Apartments for Rent in Downtown Tempe, AZ

As of April 02, 2026 the best value apartment in the Downtown 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 Downtown Tempe apartment is the D1 PHPV Model at Nine20 Tempe starting at $1,009 with a $0.69 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Downtown 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
Nine20 TempeD1 PHPV4BR,4BA$0.69
Tempe Horizons2 Bed/2 Bath2BR,2BA$1.36
AgaveAcacia 22BR,2BA$1.31
Butterfield ParkTwo Bedroom Two Bathroom2BR,2BA$1.21
Luna Bear 5th StreetB12BR,2BA$1.37
Corsican2 Bed - 1 Bath2BR,1BA$1.26
Sago GardensSingle Story2BR,1BA$1.21
Emerson Park2 Bed 1 Bath2BR,1BA$1.37
Willowbrook Apartments1261BR,1BA$1.38

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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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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Best Local Schools in
Downtown Tempe, Tempe, AZ

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Tempe. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for the best outdoor access, luxury amenities, features that make it easier to raise kids, raising pets, transit options, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Tempe Apartments

What is the Cheapest Studio apartment in Downtown Tempe?

Currently the most affordable Cheap Studio Apartment in Downtown Tempe is at Villas on 4th listed at $875.

How much is rent for a Cheap One Bedroom Downtown Tempe Apartment?

The lowest price for a Cheap One Bedroom Downtown Tempe Apartment is $850 at The Atrium.

What is the lowest price for a Cheap Two Bedroom Downtown Tempe Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Tempe is starting from $950 at Sago Gardens.

What is the most affordable Downtown Tempe Three Bedroom Apartment?

The best deal on a cheap Downtown Tempe Three Bedroom Apartment rental is at SoL and starts from $1,100.

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.

Helpful Local Expert Guides

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.