Cheap Homes for Rent in Anchorage, AK from $1,200 (22 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 Anchorage.

Showing Results 1-22, Page 1 of 1

Anchorage, AK Local Guide

Cheapest Neighborhoods for Apartments in Anchorage, AK

Pricing Updated: 03/22/2025

Current apartment rentals in the Anchorage, AK area range in price from $1,200 to $4,200 with an overall median price of $3,064. The three Anchorage neighborhoods with the lowest median rent pricing are Mountain View at $1,350, University Area at $1,200, and Midtown at $1,800. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Anchorage Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mountain View$1,487$1,350100
University Area$1,650$1,200175
Midtown$1,800$1,80025
Airport Heights$2,150$1,200506
Russian Jack Park$2,150$1,350147
Bayshore$2,400$2,40020
Scenic Foothills$2,500$1,200287
Spenard$2,699$1,25062
West Turnagain$2,799$1,250140
Abbott-Loop$2,800$1,650105

Cheapest Available Anchorage Apartments for Rent

 

The cheapest available apartment rental in Anchorage, AK is a Studio unit found at Merrill Crossing in the Government Hill neighborhood priced from $900. The Adelaide in the Government Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $917. Here is today’s list of the most affordable Anchorage apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Merrill CrossingStudioStudio,1BA$900
The AdelaideStudioStudio,1BA$917
Panoramic ViewDeluxe 1 Bedroom1BR,1BA$1,075
The Outlook ApartmentsStudio ApartmentStudio,1BA$1,095
College ViewStudioStudio,1BA$1,120

Best Value Apartments for Rent in Anchorage, AK

As of March 22, 2025 the best value apartment in the Anchorage area is the $1.55 price per square foot 2B/2B Model at Mariners View in the in the Government Hill neighborhood starting from $2,200. The second greatest value Anchorage apartment is the 1803 Dare Ave Model at 1803 Dare Ave, Unit 7 starting at $1,595 with a $1.25 price per square foot in the Old Seward Oceanview neighborhood. Here is today’s list of the best values for Anchorage apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Mariners View2B/2B2BR,2BA$1.55
1803 Dare Ave, Unit 71803 Dare Ave3BR,1BA$1.25
1410 W 27th Ave, Unit 31410 W 27th Ave3BR,1BA$1.33
Stephens Park3 Beds3BR,2BA$1.57
525 N Flower St, Unit A525 N Flower St2BR,1BA$1.14
749 Fischer Ave, Unit 3749 Fischer Ave2BR,1BA$1.70
Downtown ClassicsA Lower Left2BR,1BA$1.78
Kings CourtTwo Bedroom One Bath2BR,1BA$1.44
Hampstead Heath2 Bed2BR,1BA$1.61
Nicole ApartmentsFlat1BR,1BA$1.74

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 Anchorage

What type of rentals are currently available in Anchorage?

There are currently 617 Apartments for Rent in Anchorage, AK with pricing that ranges from $900 to $3,400. There are also 74 Single Family Homes for rent, Condos, and Townhome rentals currently available in Anchorage ranging from $1,200 to $4,200.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Anchorage ranges from $1,200 to $4,200 with an average monthly rent of $2,472.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Anchorage range from $1,450 to $2,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,475 to $3,400. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $2,050.

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 Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for What to Know About Fees and Fines When Renting article

What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.