Cheap Homes for Rent in Downtown Tempe Neighborhood of Tempe, AZ from $700 (52 Rentals)

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

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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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 615 S Hardy Dr

615 S Hardy Dr

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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property at 242 S Beck Ave

242 S Beck 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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Showing Results 1-50, Page 1 of 2

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 4 Beds unit found at SoL priced from $760. Studio 710 Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $849. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
SoL4BR/4BA - Silver4BR,4BA$760
Studio 710 ApartmentsSmall StudioStudio,1BA$849
The Atrium1x11BR,1BA$850
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$895
PolancoStudioStudio,1BA$899
Alegre Apartments1x11BR,1BA$899
Grandes CortesStudioStudio,1BA$950
Solaris On UniversityS1 -1 x 11BR,1BA$969
Emerson SquareStudioStudio,1BA$970
Parq on 5thStudioStudio,1BA$992

Best Value Apartments for Rent in Downtown Tempe, AZ

As of December 13, 2025 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 $1,099 with a $0.75 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$0.75
AgaveAcacia2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.26
Sago GardensSingle Story2BR,1BA$1.24
Cape Cod Apartments2BR/1.0BA2BR,1BA$1.44
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.41
Emerson Park2 Bed 1 Bath2BR,1BA$1.42
Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe!1x11BR,1BA$1.44
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$1.38

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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Quick Rent Budget Calculator

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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Pet Friendly Lifestyle
Downtown Tempe, Tempe, AZ

Ranked #3

Among cities in Arizona for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Tempe, Tempe, AZ

School data provided by Great Schools

Frequently Asked Questions about Downtown Tempe

What type of rentals are currently available in Downtown Tempe?

There are currently 446 Apartments for Rent in Downtown Tempe, AZ with pricing that ranges from $695 to $15,000. There are also 239 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Tempe ranging from $700 to $6,500.

What is the current price range for Rental Homes in Downtown Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Tempe ranges from $700 to $6,500 with an average monthly rent of $2,572.

How much are larger Three and Four Bedroom Rentals in Downtown Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Tempe range from $775 to $6,128, while Three Bedroom Homes, Condos, and Townhomes for rent range from $999 to $5,500. Four Bedroom Single-Family rentals are also available starting from $1,675 and Four Bedroom Apartments start at $695.

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 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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Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

Written by: Andrew Jollett

I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.

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A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Written by: Andrew Jollett

Phoenix has long been one of the fastest-growing metros in the United States. When I think about how much I’ve seen it change over the years, it’s no wonder so many young professionals flock to the area every year.

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New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Written by: Andrew Jollett

Hi everyone! My name is Andrew, and I’m your local ApartmentHomeLiving.com guide for the greater Phoenix area. Today, I want to take you on an insider’s tour of the area.

Articles, How-To's, and Tips

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.