Cheap Apartments for Rent in the University Park Neighborhood of Tempe, AZ from $800 (96 Rentals)

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

property at 907 E Broadmor Dr

$950 - $1,075

Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,075
Total Monthly Price
$950 - $1,075

1 Bedroom, 1 Bath Home for Rent

Available Now

907 E Broadmor Dr

TempeAZ85282

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

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 1415 S Terrace Rd

$1,000

Total Monthly Price

Total Monthly Price

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

3 Bedroom, 3.5 Bath Home for Rent

Available Now

1415 S Terrace Rd

TempeAZ85281
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Parq on 5th
Rent Specials
$1,087 - $1,683
Total Monthly Price

Total Monthly Price

Base Rent
$1,087 - $1,683
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Parq on 5th

805 W Brown StTempe, AZ 85281
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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 1200 S Farmer Ave

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

1200 S Farmer Ave

TempeAZ85281
property at 729 W University Dr

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

2 Bedroom, 1 Bath Home for Rent

Available Jul 1

729 W University Dr

TempeAZ85281
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IMT Desert Palm Village
Rent Specials
$1,238 - $2,288
Total Monthly Price

Total Monthly Price

Base Rent
$1,238 - $2,288
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

IMT Desert Palm Village

1215 E Vista Del Cerro DrTempe, AZ 85281
Student Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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 Jul 15

731 W University Dr

TempeAZ85281
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West 5th
$1,334 - $1,434
Total Monthly Price

Total Monthly Price

Base Rent
$1,334 - $1,434
Total Monthly Price
$1,334 - $1,434
2 Bedroom Apartments Available Now

West 5th

601 W 5th StTempe, AZ 85281
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

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 407 W Howe St

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

407 W Howe St

TempeAZ85281
property at 504 W Brown St

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

1 Bedroom, 1 Bath Home for Rent

Available Sep 1

504 W Brown St

TempeAZ85281

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 1436 S Terrace Rd

$1,495 - $1,595

Studio To 1 Bedroom Rentals

Available Now

1436 S Terrace Rd

TempeAZ85281
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Vero
Rent Specials
$1,558 - $2,281
Total Monthly Price

Total Monthly Price

Base Rent
$1,558 - $2,281
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Vero

651 E 6th StTempe, AZ 85281
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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University Park, Tempe, AZ Local Guide

Cheapest Available University Park Apartments for Rent

 

The cheapest available apartment rental in the University Park area of Phoenix, AZ is a Studio unit found at University Pointe Apartments priced from $899. Riviera Palms has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable University Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
University Pointe ApartmentsStudioStudio,1BA$899
Riviera PalmsStudioStudio,1BA$899
Sago GardensTownhome2BR,1BA$950
The Place of TempeStudioStudio,1BA$950
Spring Leaf Apartments1BR/1.0BA1BR,1BA$995
Tempe TerraceOne Bedroom Suite1BR,1BA$999
The Regency Apartment HomesStudioStudio,1BA$999
Thrive Tempe Apartments1x11BR,1BA$999
Westmount at Downtown Tempe ApartmentsSunrise1BR,1BA$1,025
Hidden Glen1X11BR,1BA$1,050

Best Value Apartments for Rent in University Park, AZ

As of June 19, 2026 the best value apartment in the University Park area is the $1.36 price per square foot 3 Beds, 3.5 Baths Model at 430 W 7th St in the in the Downtown Tempe neighborhood starting from $2,995. The second greatest value University Park apartment is the D3 Model at Canvas starting at $1,249 with a $0.92 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for University Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
430 W 7th St3 Beds, 3.5 Baths3BR,3.5BA$1.36
CanvasD34BR,4BA$0.92
The District on Apache3x3 Luxe3BR,3BA$0.89
Tempe Horizons2 Bed/2 Bath2BR,2BA$1.36
AgaveAcacia2BR,1BA$1.29
Thrive Tempe Apartments2x2L2BR,2BA$1.45
Corsican2 Bed - 1 Bath2BR,1BA$1.42
Nine20 TempeB12BR,2BA$1.26
Sago GardensSingle Story2BR,1BA$1.21
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.41

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Pet Friendly Lifestyle
University Park, Tempe, AZ

Ranked #33

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
University Park, Tempe, AZ

School data provided by Great Schools

Frequently Asked Questions about Cheap University Park Apartments

What is a cheap apartment in University Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in University Park is under $1,050.

What is the price of a cheap apartment in University Park?

The cheapest apartment in University Park is Spring Leaf Apartments which is listed at $995, while the average apartment in University Park costs $3,800.

What types of apartments are the cheapest in University Park?

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 122 regular apartments in University Park 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 University Park?

Cheap apartments in University Park have an average cost of $1,145 which is $2,655 cheaper than the average rent for all rentals in University Park.

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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