Cheap Homes for Rent in Downtown Tempe Neighborhood of Tempe, AZ from $800 (57 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.

Read Article

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 615 S Hardy Dr

615 S Hardy Dr

TempeAZ85281

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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property at 615 S Hardy Dr

615 S Hardy Dr

TempeAZ85281
property at 242 S Beck Ave

242 S Beck Ave

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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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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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 Studio unit found at Polanco priced from $899. Margo 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
PolancoStudioStudio,1BA$899
MargoStudioStudio,1BA$899
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$985
Willow CreekSTDO-405Studio,1BA$995
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$998
University Pointe ApartmentsStudioStudio,1BA$999
Onnix ApartmentsJade - StudioStudio,1BA$1,019
Alegre Apartments1x11BR,1BA$1,025

Best Value Apartments for Rent in Downtown Tempe, AZ

As of September 09, 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 Agave Suite Model at Agave starting at $1,799 with a $1.44 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
AgaveAgave Suite3BR,2BA$1.44
Sago GardensTownhome2BR,1BA$1.37
Luna Bear 5th StreetB12BR,2BA$1.45
Cape Cod2BR/1.0BA2BR,1BA$1.45
University ParkTwo Bedroom Two Bathroom Ensuite2BR,2BA$1.25
Emerson Park2 Bed 1 Bath2BR,1BA$1.48
Gateway at Tempe2x2 L Renovated2BR,2BA$1.39
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.17
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.25

Quick Rent Budget Calculator

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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 425 Apartments for Rent in Downtown Tempe, AZ with pricing that ranges from $725 to $14,000. There are also 277 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Tempe ranging from $800 to $15,000.

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 $800 to $15,000 with an average monthly rent of $2,279.

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 $5,479, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $6,000. Four Bedroom Single-Family rentals are also available starting from $2,175 and Four Bedroom Apartments start at $725.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

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).

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.