1415 S Mill Ave
TempeAZ85281
Cheap Apartments for Rent in the University Park Neighborhood of Tempe, AZ from $500 (59 Rentals)
Search the lowest-cost Apartments available for rent right now in the University Park area of Tempe.
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$849 - $1,050Studio Apartments Available Now
Studio 710 Apartments
710 S Hardy DrTempe, AZ 85281
1037 S Farmer Ave
TempeAZ85281
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$975 - $1,644Studio to 2 Bedroom Apartments Available Now
Parq on 5th
805 W Brown StTempe, AZ 85281
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$999 - $1,775Studio to 2 Bedroom Apartments Available Now
University Pointe Apartments
919 E Lemon StTempe, AZ 85281
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$1,095 - $1,1951 Bedroom Apartments Available Now
Spring Leaf Apartments
1433 S Stanley PlTempe, AZ 85281
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$1,0952 Bedroom Apartments Contact Us For Availability
1433 S Kenneth Pl
1433 S Kenneth PlTempe, AZ 85281
1219 S Farmer Ave
TempeAZ85281
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$1,1101 to 2 Bedroom Apartments Available Jan 1, 2026
Brix
1424 S Jentilly LnTempe, AZ 85281
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$1,118 - $2,859Studio to 2 Bedroom Apartments Available Now
Paseo on University
1255 E University DrTempe, AZ 85281
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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$1,125 - $1,3002 Bedroom Apartments Available Now
Sago Gardens
1015 S Stanley PlTempe, AZ 85281
906 S Farmer Ave
TempeAZ85281
1008 S Mariana St
TempeAZ85281
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$1,199 - $1,5501 to 2 Bedroom Apartments Available Now
The Heights on Lemon
1224 E Lemon StTempe, AZ 85281
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$1,199 - $1,2991 to 2 Bedroom Apartments Available Now
West 5th
601 W 5th StTempe, AZ 85281
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$1,200 - $1,5001 to 2 Bedroom Apartments Available Now
Axio Apartments
740 W University DrTempe, AZ 85281
908 S Mariana St
TempeAZ85281
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$1,215 - $2,0901 to 3 Bedroom Apartments Available Now
IMT Desert Palm Village
1215 E Vista Del Cerro DrTempe, AZ 85281
615 S Hardy Dr
TempeAZ85281
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$1,2502 Bedroom Apartment Available Dec 20
2123 S Hu Esta Dr, Unit East
2123 S Hu Esta DrTempe, AZ 85282
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.
1125 E Broadway Rd
TempeAZ85282
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$1,250 - $1,9501 to 3 Bedroom Apartments Available Now
Westmount at Downtown Tempe
615 S Hardy DrTempe, AZ 85281
2020 S Granada Dr
TempeAZ85282
2309 S College Ave
TempeAZ85282
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$1,299 - $3,999Studio to 3 Bedroom Apartments Available Now
The Local Tempe Luxury Apartments
750 S Ash AveTempe, AZ 85281
117 W Broadway Rd
TempeAZ85282
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$1,344 - $1,740Studio to 2 Bedroom Apartments Available Now
Array on Apache
1100 E Apache BlvdTempe, AZ 85281
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1014 S Farmer 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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1 to 2 Bedroom Apartments
Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe!
2108 S Rural RdTempe, AZ 85282
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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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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.
University Park, Tempe, AZ Local Guide
How much does it cost to rent an apartment in University Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Park Studio Apartments | $1,537 | $700 | $2,160 |
| University Park 1 Bedroom Apartments | $1,674 | $1,095 | $3,287 |
| University Park 2 Bedroom Apartments | $1,822 | $1,095 | $4,950 |
| University Park 3 Bedroom Apartments | $2,174 | $999 | $5,479 |
| University Park 4 Bedroom Apartments | $1,393 | $899 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 59 rentals with your search options within a 1 mile radius of the University Park Neighborhood of Tempe, AZ.
See all Apartments in TempeExplore Tempe
University Park, Tempe, AZ Local Guide
- Nearby Tempe neighborhoods
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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 Parq on 5th priced from $975. Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe! has the second lowest priced unit, which is a 1 Bed apartment currently listed from $995. Here are the most affordable University Park apartments for rent in Phoenix, AZ:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Parq on 5th | Studio | Studio,1BA | $975 |
| Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe! | 1x1 | 1BR,1BA | $995 |
| Riviera Palms | Studio | Studio,1BA | $999 |
| University Pointe Apartments | Studio | Studio,1BA | $999 |
| Studio 710 Apartments | Large Studio Deluxe | Studio,1BA | $1,050 |
| The Vintage on College | 1x1 Remodeled W/D | 1BR,1BA | $1,050 |
| 1433 S Kenneth Pl | Two Bedroom/One Bath | 2BR,1BA | $1,095 |
| Spring Leaf Apartments | 1BR/1.0BA | 1BR,1BA | $1,095 |
| Paseo on University | 1 Bedroom Apartment Near ASU Tempe | 1BR,1BA | $1,118 |
| Sago Gardens | Single Story | 2BR,1BA | $1,125 |
Best Value Apartments for Rent in University Park, AZ
As of December 19, 2025 the best value apartment in the University Park area is the $1.65 price per square foot 2x2.5 Standard Garage Model at Roosevelt Luxury Townhomes in the in the Downtown Tempe neighborhood starting from $2,595. The second greatest value University Park apartment is the D1 PHPV Model at Nine20 Tempe starting at $1,099 with a $0.75 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Roosevelt Luxury Townhomes | 2x2.5 Standard Garage | 2BR,2.5BA | $1.65 |
| Nine20 Tempe | D1 PHPV | 4BR,4BA | $0.75 |
| Agave | Acacia | 2BR,1BA | $1.44 |
| The Brentwood | 2BR/2.0BA | 2BR,2BA | $1.61 |
| Corsican | 2 Bed - 1 Bath | 2BR,1BA | $1.26 |
| Sago Gardens | Single Story | 2BR,1BA | $1.24 |
| The Heights on Lemon | 2 Bedrooms, 1 Bath | 2BR,1BA | $1.41 |
| IMT Desert Palm Village | 1A | 1BR,1BA | $1.69 |
| Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe! | 1x1 | 1BR,1BA | $1.44 |
| 1433 S Kenneth Pl | Two Bedroom/One Bath | 2BR,1BA | $1.68 |
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
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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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 LifestyleUniversity Park, Tempe, AZ
Ranked #24
Among cities in Arizona for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Best Local Schools in University Park, Tempe, AZ
McKemy Academy of International Studies
Tempe School District
Public School - Grades 6-8 (334)
7 out of 10
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 $1,125.
What is the price of a cheap apartment in University Park?
The cheapest apartment in University Park is Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe! which is listed at $995, while the average apartment in University Park costs $1,995.
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 171 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 $1,371 which is $624 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.
Helpful Local Expert Guides
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).
Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters
Written by: Andrew Jollett
I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.
A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon
Written by: Andrew Jollett
Phoenix has long been one of the fastest-growing metros in the United States. When I think about how much I’ve seen it change over the years, it’s no wonder so many young professionals flock to the area every year.
New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options
Written by: Andrew Jollett
Hi everyone! My name is Andrew, and I’m your local ApartmentHomeLiving.com guide for the greater Phoenix area. Today, I want to take you on an insider’s tour of the area.
Articles, How-To's, and Tips
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
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.