Cheap Apartments for Rent in the Downtown Tempe Neighborhood of Tempe, AZ from $600 (203 Rentals)

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

property at 1207 E Loyola Dr

$775 - $900

Total Monthly Price

Total Monthly Price

Base Rent
$775 - $900
Total Monthly Price
$775 - $900

1 Bedroom, 1 Bath Home for Rent

Available Now

1207 E Loyola Dr

TempeAZ85282

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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property at 907 E Broadmor Dr

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 0.5 Bath Home for Rent

Available Now

907 E Broadmor Dr, Unit Room #1 Twin

907 E Broadmor Dr
TempeAZ85282
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Eastridge Apartments
Rent Specials
$980 - $1,610
Total Monthly Price

Total Monthly Price

Base Rent
$980 - $1,610
Total Monthly Price
$980 - $1,610
Studio to 2 Bedroom Apartments Available Now

Eastridge Apartments

1522 E Southern AveTempe, AZ 85282
Affordability
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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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property at 1318 S Mitchell Dr

$1,000

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Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

3 Bedroom, 2.5 Bath Townhome for Rent

Available Now

1318 S Mitchell Dr

TempeAZ85281

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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property at 729 W University Dr

$1,100

Total Monthly Price

Total Monthly Price

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

2 Bedroom, 1 Bath Home for Rent

Available Now

729 W University Dr

TempeAZ85281
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Parq on 5th
Rent Specials
$1,100 - $1,684
Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,684
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Parq on 5th

805 W Brown StTempe, AZ 85281
Corporate Housing
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2024 S Mill Ave, Unit 1
$1,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100
1 Bedroom Apartment Available Now

2024 S Mill Ave, Unit 1

2024 S Mill AveTempe, AZ 85282
Affordability
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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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property at 407 W Howe St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

407 W Howe St

TempeAZ85281
property at 1200 S Farmer Ave

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

1200 S Farmer Ave

TempeAZ85281

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 Studio unit found at Solaris On University priced from $829. University Pointe Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Solaris On UniversityStudioStudio,1BA$829
University Pointe ApartmentsStudioStudio,1BA$899
Riviera PalmsStudioStudio,1BA$899
MargoStudioStudio,1BA$929
Onnix ApartmentsJade - StudioStudio,1BA$931
Sago GardensTownhome2BR,1BA$950
Emerson ParkStudioStudio,1BA$970
PolancoStudioStudio,1BA$997
Tempe TerraceOne Bedroom Suite1BR,1BA$999
Paseo on University1 Bedroom Apartment Near ASU Tempe1BR,1BA$1,033

Best Value Apartments for Rent in Downtown Tempe, AZ

As of July 08, 2026 the best value apartment in the Downtown Tempe area is the $0.43 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $799. The second greatest value Downtown Tempe apartment is the D3 Model at Canvas starting at $1,249 with a $0.92 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$0.43
CanvasD34BR,4BA$0.92
The District on Apache3x3 Luxe3BR,3BA$0.89
Corsican2 Bed - 1 Bath2BR,1BA$1.31
Nine20 TempeB12BR,2BA$1.26
SoL2BR/2BA - Platinum2BR,2BA$1.18
Sago GardensSingle Story2BR,1BA$1.21
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.35
MadEry ApartmentsSaguaro2BR,1BA$1.29
Gateway at Tempe2x2 L Renovated2BR,2BA$1.26

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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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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Downtown Tempe, Tempe, AZ

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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 a cheap apartment in Downtown Tempe?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Tempe is under $1,033.

What is the price of a cheap apartment in Downtown Tempe?

The cheapest apartment in Downtown Tempe is Solaris On University which is listed at $979, while the average apartment in Downtown Tempe costs $10,500.

What types of apartments are the cheapest in Downtown 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 228 regular apartments in Downtown 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 Downtown Tempe?

Cheap apartments in Downtown Tempe have an average cost of $1,053 which is $9,447 cheaper than the average rent for all rentals in Downtown 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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