Cheap Homes for Rent in University Park Neighborhood of Tempe, AZ from $700 (16 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in the University Park 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.

Read Article

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.

Read Article

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.

Read Article
Showing Results 1-16, Page 1 of 1

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 1 Bed unit found at Axio Apartments priced from $900. University Pointe Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $999. Here are the most affordable University Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Axio Apartments1x11BR,1BA$900
University Pointe ApartmentsStudioStudio,1BA$999
Studio 710 ApartmentsSmall Studio- UpgradedStudio,1BA$1,040
1433 S Kenneth PlTwo Bedroom/One Bath2BR,1BA$1,095
Parq on 5thStudioStudio,1BA$1,099

Best Value Apartments for Rent in University Park, AZ

As of June 24, 2025 the best value apartment in the University Park area is the $1.67 price per square foot 3 Bedroom 3.5 Bath Model at The Place On Jentilly in the in the Downtown Tempe neighborhood starting from $2,750. The second greatest value University Park apartment is the 2x2.5 Standard Garage Model at Roosevelt Luxury Townhomes starting at $2,700 with a $1.72 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.
The Place On Jentilly3 Bedroom 3.5 Bath3BR,3.5BA$1.67
Roosevelt Luxury Townhomes2x2.5 Standard Garage2BR,2.5BA$1.72
Sago GardensTownhome2BR,1BA$1.58
Corsican2 Bed - 1 Bath2BR,1BA$1.45
Nine20 TempeB12BR,2BA$1.39
University ParkTwo Bedroom Two Bathroom2BR,2BA$1.65
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.56
IMT Desert Palm Village2A2BR,1BA$1.63
Beautiful Renovations One and Two Bedrooms2x1- Renovated with Brown Cabinets2BR,1BA$1.58
1433 S Kenneth PlTwo Bedroom/One Bath2BR,1BA$1.68

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about University Park

What type of rentals are currently available in University Park?

There are currently 227 Apartments for Rent in University Park, AZ with pricing that ranges from $650 to $14,000. There are also 71 Single Family Homes for rent, Condos, and Townhome rentals currently available in University Park ranging from $700 to $5,000.

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 $700 to $5,000 with an average monthly rent of $2,299.

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 $5,699, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,775 to $3,795. Four Bedroom Single-Family rentals are also available starting from $2,395 and Four Bedroom Apartments start at $799.

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.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

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).

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.