Cheap Apartments for Rent in the Riverside Neighborhood of Tempe, AZ from $600 (53 Rentals)

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

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Plaza East
1 Bedroom Apartments

Plaza East

807 W 3rd StTempe, AZ 85281
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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

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Villa Nicole
2 Bedroom Apartments

Villa Nicole

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

Parkview on 5th

704-724 W 5th StTempe, AZ 85281

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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Wilson Studios
Studio Apartments

Wilson Studios

110-114 S Wilson StTempe, AZ 85281
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Corsican
2 Bedroom Apartments

Corsican

1312 S Hardy DrTempe, AZ 85281
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Pecan Grove Estates
1 to 2 Bedroom Apartments

Pecan Grove Estates

1233 W 4th StTempe, AZ 85281
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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 1 Bed unit found at Axio Apartments priced from $900. Lyndon Lane has the second lowest priced unit, which is a 1 Bed apartment currently listed from $975. Here are the most affordable Riverside apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Axio Apartments1x11BR,1BA$900
Lyndon LaneOne Bed One Bath1BR,1BA$975
MargoStudioStudio,1BA$999
Studio 710 ApartmentsSmall Studio- UpgradedStudio,1BA$1,020
Parq on 5thStudioStudio,1BA$1,099
Paseo on UniversityStudio Apartments Near ASUStudio,1BA$1,109
Grandes CortesStudioStudio,1BA$1,109
Riverside Apartments1x11BR,1BA$1,194
Tremezzo on the LakeA1R1BR,1BA$1,199
Villas on 4thStudioStudio,1BA$1,200

Best Value Apartments for Rent in Riverside, AZ

As of June 10, 2025 the best value apartment in the Riverside area is the $1.72 price per square foot 2x2.5 Standard Garage Model at Roosevelt Luxury Townhomes in the in the Downtown Tempe neighborhood starting from $2,700. The second greatest value Riverside apartment is the C1 Model at The Fredrick Tempe starting at $2,800 with a $2.11 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.
Roosevelt Luxury Townhomes2x2.5 Standard Garage2BR,2.5BA$1.72
The Fredrick TempeC13BR,2BA$2.11
Corsican2 Bed - 1 Bath2BR,1BA$1.45
SALTStudioStudio ,1BA$2.16
McKemy at Tempe Town Lake2x12BR,1BA$2.07
West 5th1BR/1.0BA1BR,1BA$2.16
Riverside Apartments1x11BR,1BA$1.84
Tremezzo on the LakeA1R1BR,1BA$2.15
Axio Apartments1x11BR,1BA$1.73
Furnished 1 bed / 1 bath in a 4 bedroom1 bedroom1 bath4BR,4BA$1.99

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 #33

Among neighborhoods in Tempe, AZ 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 $1,200.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is Axio Apartments which is listed at $900, while the average apartment in Riverside costs $2,930.

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 14 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 $1,052 which is $1,878 cheaper than the average rent for all rentals in Riverside.

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.

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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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The Art of the Rental Viewing: What to look for during a property tour

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

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If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.