1409 S Mill Ave, Unit 2, Unit 2
1409 S Mill Ave
TempeAZ85281
Cheap Homes for Rent in University Park Neighborhood of Tempe, AZ from $500 (18 Rentals)
Search the lowest-cost Homes available for rent right now in the University Park area of Tempe.
1215 E Lemon St, Unit Lemon L, Unit Lemon L
1215 E Lemon St
TempeAZ85281
700 W University Dr
TempeAZ85281
906 S Farmer Ave, Unit C, Unit C
906 S Farmer Ave
TempeAZ85281
528 W Howe St
TempeAZ85281
528 W Howe St
TempeAZ85281
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.
2323 S College Ave
TempeAZ85282
700 W University Dr, Unit 130
700 W University Dr
TempeAZ85281
2610 S Ventura Dr
TempeAZ85282
1214 S Roosevelt St, Unit B, Unit B
1214 S Roosevelt St
TempeAZ85281
731 W University Dr
TempeAZ85281
731 W University Dr
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.
1215 E Lemon St
TempeAZ85281
2123 W Hu Esta Dr
TempeAZ85282
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$1,3501 Bedroom Apartments Available Now
109 E Broadway Rd, Unit 5
109 E Broadway RdTempe, AZ 85282
617 S Roosevelt St
TempeAZ85281
521 W 10th St
TempeAZ85281
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$1,4952 Bedroom Apartments Available Now
109 E Broadway Rd, Unit 2
109 E Broadway RdTempe, 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.
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University Park, Tempe, AZ Local Guide
How much does it cost to rent a home in University Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Park 2 Bedroom Homes for Rent | $1,570 | $1,050 | $2,595 |
| University Park 3 Bedroom Homes for Rent | $2,513 | $1,899 | $3,665 |
| University Park 4 Bedroom Homes for Rent | $3,169 | $775 | $4,400 |
| University Park 5 Bedroom Homes for Rent | $3,881 | $3,200 | $4,995 |
| University Park 6 Bedroom Homes for Rent | $4,224 | $3,800 | $4,600 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 18 rentals with your search options within a 1 mile radius of the University Park Neighborhood of Tempe, AZ.
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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 $932. Studio 710 Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $949. 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 | $932 |
| Studio 710 Apartments | Small Studio | Studio,1BA | $949 |
| Sago Gardens | Townhome | 2BR,1BA | $950 |
| The Place of Tempe | Studio | Studio,1BA | $950 |
| University Pointe Apartments | Studio | Studio,1BA | $999 |
Best Value Apartments for Rent in University Park, AZ
As of April 16, 2026 the best value apartment in the University Park area is the $1.52 price per square foot 3 Bedroom 3.5 Bath Model at The Place On Jentilly in the in the Downtown Tempe neighborhood starting from $2,499. The second greatest value University Park apartment is the D1 PHPV Model at Nine20 Tempe starting at $1,009 with a $0.69 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. |
|---|---|---|---|
| The Place On Jentilly | 3 Bedroom 3.5 Bath | 3BR,3.5BA | $1.52 |
| Nine20 Tempe | D1 PHPV | 4BR,4BA | $0.69 |
| Tempe Horizons | 2 Bed/2 Bath | 2BR,2BA | $1.36 |
| Agave | Acacia 2 | 2BR,2BA | $1.41 |
| Thrive Tempe Apartments | 2x2L | 2BR,2BA | $1.50 |
| Sago Gardens | Single Story | 2BR,1BA | $1.21 |
| University Park | Two Bedroom Two Bathroom Ensuite | 2BR,2BA | $1.25 |
| The Heights on Lemon | 2 Bedrooms, 1 Bath | 2BR,1BA | $1.47 |
| Beautiful Renovations One and Two Bedrooms Located in the Heart of Tempe! | 1x1 - 18 | 1BR,1BA | $1.58 |
| Tempe Terrace | One Bedroom Suite | 1BR,1BA | $1.51 |
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.
Read ArticleThe 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.
Read ArticleCash 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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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 #27
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)
8 out of 10
School data provided by Great Schools
Frequently Asked Questions about University Park
What type of rentals are currently available in University Park?
There are currently 237 Apartments for Rent in University Park, AZ with pricing that ranges from $625 to $15,000. There are also 94 Single Family Homes for rent, Condos, and Townhome rentals currently available in University Park ranging from $575 to $4,995.
What is the current price range for Rental Homes in University Park?
Today's rental pricing for Homes for Rent, Condos and Townhomes in University Park ranges from $575 to $4,995 with an average monthly rent of $2,467.
How much are larger Three and Four Bedroom Rentals in University Park?
For those who are looking for larger living arrangements, Three Bedroom Apartments in University Park range from $1,004 to $5,860, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,899 to $3,665. Four Bedroom Single-Family rentals are also available starting from $775 and Four Bedroom Apartments start at $850.
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
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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
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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
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.