Cheap Homes for Rent in Riverside Neighborhood of Tempe, AZ from $600 (16 Rentals)

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

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.

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.

property at 615 S Hardy Dr

615 S Hardy Dr

TempeAZ85281
property at 615 S Hardy Dr

615 S Hardy Dr

TempeAZ85281
property at 850 W 9th St

850 W 9th St

TempeAZ85281
property at 1065 W 1st St

1065 W 1st St

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.

property at 1240-1246 4th St

1240-1246 4th St

TempeAZ85281

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 Margo priced from $899. 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
MargoStudioStudio,1BA$899
Lyndon LaneOne Bed One Bath1BR,1BA$975
Parq on 5thStudioStudio,1BA$1,000
Studio 710 ApartmentsSmall Studio DeluxeStudio,1BA$1,095
Dwell at 5th and Farmer0 Bed/1 BathStudio,1BA$1,097

Best Value Apartments for Rent in Riverside, AZ

As of July 24, 2025 the best value apartment in the Riverside area is the $1.65 price per square foot 2x2.5 Den, Standard Garage Model at Roosevelt Luxury Townhomes in the in the Downtown Tempe neighborhood starting from $3,050. The second greatest value Riverside apartment is the 1320 S Ash Ave Model at 1320 S Ash Ave, Unit Main House starting at $1,850 with a $1.23 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 Den, Standard Garage2BR,2.5BA$1.65
1320 S Ash Ave, Unit Main House1320 S Ash Ave2BR,1.5BA$1.23
Residences on Farmer2x2a2BR,2BA$1.97
The AubreyOlivia1BR,1BA$1.92
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.37
McKemy at Tempe Town Lake2x12BR,1BA$2.00
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.46
West 5th1BR/1.0BA1BR,1BA$1.94
Furnished 1 bed / 1 bath in a 4 bedroom1 bedroom1 bath4BR,4BA$1.39
MargoStudioStudio ,1BA$2.25

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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Frequently Asked Questions about Riverside

What type of rentals are currently available in Riverside?

There are currently 178 Apartments for Rent in Riverside, AZ with pricing that ranges from $695 to $14,000. There are also 74 Single Family Homes for rent, Condos, and Townhome rentals currently available in Riverside ranging from $675 to $5,400.

What is the current price range for Rental Homes in Riverside?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Riverside ranges from $675 to $5,400 with an average monthly rent of $2,234.

How much are larger Three and Four Bedroom Rentals in Riverside?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Riverside range from $1,004 to $5,479, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,795 to $5,400. Four Bedroom Single-Family rentals are also available starting from $2,350 and Four Bedroom Apartments start at $695.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.