Cheap Apartments for Rent in the Downtown Tempe Neighborhood of Tempe, AZ from $676 (200 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

$900 - $1,250

Total Monthly Price

Total Monthly Price

Base Rent
$900 - $1,250
Total Monthly Price
$900 - $1,250

Studio To 2 Bedroom Condos for Rent

Available Now

1409 S Mill Ave

TempeAZ85281

Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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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, 1 Bath Home for Rent

Available Now

907 E Broadmor Dr, Unit Room #1 Twin

907 E Broadmor Dr
TempeAZ85282
property at 931 S Casitas Dr

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Home for Rent

Available Now

931 S Casitas Dr

TempeAZ85281
property at 407 W Howe St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

1 Bedroom, 1 Bath Home for Rent

Available Now

407 W Howe St

TempeAZ85281

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

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2024 S Mill Ave, Unit 1
$1,050
Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050
1 Bedroom Apartment Available Now

2024 S Mill Ave, Unit 1

2024 S Mill AveTempe, AZ 85282
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Eastridge Apartments
Rent Specials
$1,090 - $1,690
Total Monthly Price

Total Monthly Price

Base Rent
$1,090 - $1,690
Total Monthly Price
$1,090 - $1,690
Studio to 2 Bedroom Apartments Available Sep 8

Eastridge Apartments

1522 E Southern AveTempe, AZ 85282
Affordability
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Parq on 5th
$1,102 - $1,671
Total Monthly Price

Total Monthly Price

Base Rent
$1,102 - $1,671
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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336 S Roosevelt St, Unit 2
$1,200
Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200
2 Bedroom Apartment Available Now

336 S Roosevelt St, Unit 2

336 S Roosevelt StTempe, AZ 85281
Cost Per Sq.Ft.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

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Showing Results 1-50, Page 1 of 4

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 2 Beds unit found at Yugo Tempe Villas priced from $829. Kenneth Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Yugo Tempe Villas2 Bed, 2 Bath2BR,2BA$829
Kenneth Place1BR/1.0BA1BR,1BA$850
Paseo on University1 Bedroom Apartment Near ASU Tempe1BR,1BA$908
SoL4BR/4BA - Horizon4BR,4BA$920
Onnix ApartmentsJade - StudioStudio,1BA$931
Sago GardensTownhome2BR,1BA$950
Scene 1 Condos1BR/1.0BA1BR,1BA$950
Parkside ApartmentsA11BR,1BA$993
Riviera PalmsOne Bedroom1BR,1BA$995
PolancoStudioStudio,1BA$997

Best Value Apartments for Rent in Downtown Tempe, AZ

As of August 25, 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 2 Bed/2 Bath Model at Tempe Horizons starting at $1,395 with a $1.36 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
Tempe Horizons2 Bed/2 Bath2BR,2BA$1.36
336 S Roosevelt St, Unit 2336 S Roosevelt St2BR,1BA$1.20
Corsican2 Bed - 1 Bath2BR,1BA$1.31
SoL2BR/2BA - Golden Cove2BR,2BA$1.18
Yugo Tempe Villas2 Bed, 2 Bath2BR,2BA$0.91
Sago GardensSingle Story2BR,1BA$1.21
Solaris On UniversityU2 - 2 x 12BR,1BA$1.34
MadEry ApartmentsSaguaro2BR,1BA$1.35
Gateway at Tempe2x2 S Renovated2BR,2BA$1.35

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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Best Local Schools in
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 $997.

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

The cheapest apartment in Downtown Tempe is Kenneth Place which is listed at $850, while the average apartment in Downtown Tempe costs $1,525.

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 345 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 $1,004 which is $521 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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