Cheap Apartments for Rent in the Riverside Neighborhood of Tempe, AZ from $700 (60 Rentals)

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

property at 700 W University Dr

$899 - $1,100

Total Monthly Price

Total Monthly Price

Base Rent
$899 - $1,100
Total Monthly Price
$899 - $1,100

1 To 2 Bedroom Condos for Rent

Available Now

700 W University Dr

TempeAZ85281

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

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property at 528 W Howe St

$1,000

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Townhome for Rent

Available Now

528 W Howe St

TempeAZ85281

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 731 W University Dr

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300

2 Bedroom, 1 Bath Home for Rent

Available May 15

731 W University Dr

TempeAZ85281
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West 5th
$1,334
Total Monthly Price

Total Monthly Price

Base Rent
$1,334
Total Monthly Price
$1,334
1 to 2 Bedroom Apartments Available Now

West 5th

601 W 5th StTempe, AZ 85281
Affordability
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  • Customer Reviewed
  • Utilities Included
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Lyndon Lane
$1,425 - $1,530
Total Monthly Price

Total Monthly Price

Base Rent
$1,425 - $1,530
Total Monthly Price
$1,425 - $1,530
Studio to 2 Bedroom Apartments Available Now

Lyndon Lane

1548 W University DrTempe, AZ 85281
Affordability
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  • 3D Tour

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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Encore on Farmer
1 to 2 Bedroom Apartments

Encore on Farmer

601 S Farmer AveTempe, AZ 85281
Senior Living
  • Utilities Included
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Plaza East
1 Bedroom Apartments

Plaza East

807 W 3rd StTempe, AZ 85281
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Venture on Wilson
1 to 2 Bedroom Apartments

Venture on Wilson

626 S Wilson StTempe, AZ 85281

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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Hidden Glen
1 to 2 Bedroom Apartments

Hidden Glen

818 W 3rd StTempe, AZ 85281
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Echo Tempe
2 Bedroom Apartments

Echo Tempe

1014 S Farmer AveTempe, AZ 85281
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Parkview on 5th
Studio to 2 Bedroom Apartments

Parkview on 5th

704-724 W 5th StTempe, AZ 85281
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Plaza East
1 Bedroom Apartments

Plaza East

807-819 W 3rd StTempe, AZ 85281
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Wilson Studios
Studio Apartments

Wilson Studios

110-114 S Wilson StTempe, AZ 85281
  • Utilities Included
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Rio Paradiso
Studio to 3 Bedroom Apartments

Rio Paradiso

1033 N Parkside DrTempe, AZ 85288
Student Housing

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

Riverside, Tempe, AZ Local Guide

Cheapest Available Riverside Apartments for Rent

 

The cheapest available apartment rental in the Riverside area of Phoenix, AZ is a Studio unit found at Villas on 4th priced from $875. Grandes Cortes has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Riverside apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Villas on 4thStudioStudio,1BA$875
Grandes CortesStudioStudio,1BA$899
MargoStudioStudio,1BA$929
Parq on 5thStudioStudio,1BA$932
Riverside ApartmentsStudioStudio,1BA$1,040
Studio 710 ApartmentsLarge Studio DeluxeStudio,1BA$1,135
Union TempeStudioStudio,1BA$1,250
Rio ParadisoA11BR,1BA$1,295
Luna Bear 5th StreetB12BR,2BA$1,299
Tremezzo on the LakeB1R2BR,1BA$1,299

Best Value Apartments for Rent in Riverside, AZ

As of April 29, 2026 the best value apartment in the Riverside area is the $1.75 price per square foot 1405 S Farmer Ave Model at 1405 S Farmer Ave, Unit House in the in the Downtown Tempe neighborhood starting from $2,795. The second greatest value Riverside apartment is the 2x2.5 Standard Garage Model at Roosevelt Luxury Townhomes starting at $2,695 with a $1.72 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Riverside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1405 S Farmer Ave, Unit House1405 S Farmer Ave3BR,3BA$1.75
Roosevelt Luxury Townhomes2x2.5 Standard Garage2BR,2.5BA$1.72
Dolce Villagio TownhomesTwo Bedroom 2.5 Bathroom2BR,2.5BA$1.78
Lakeside Drive ApartmentsB22BR,2BA$2.19
Luna Bear 5th StreetB12BR,2BA$1.37
Lyndon LaneLyndon Lane Two Bedroom One Bath2BR,1BA$1.58
McKemy at Tempe Town Lake2x12BR,1BA$2.00
Rio ParadisoA11BR,1BA$1.75
Tremezzo on the LakeB1R2BR,1BA$1.83
West 5th1BR/1.0BA1BR,1BA$1.92

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

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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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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
Riverside, Tempe, AZ

Ranked #46

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Riverside Apartments

What is a cheap apartment in Riverside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Riverside is under $1,299.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is Parq on 5th which is listed at $1,046, while the average apartment in Riverside costs $3,425.

What types of apartments are the cheapest in Riverside?

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 90 regular apartments in Riverside 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 Riverside?

Cheap apartments in Riverside have an average cost of $1,793 which is $1,632 cheaper than the average rent for all rentals in Riverside.

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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