
Cheap Apartments for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $500 (518 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Phoenix area of Phoenix.


Crosstown Phoenix

Vista Village on Van Buren

Victory Place I-IV

2410 W Turney Ave

Spectra Midtown

Collins off Colter*

Sunset Sound Studio Apartments
Downtown Phoenix
Named as one of the Best Affordable Areas to rent in Phoenix by our Phoenix, AZ Local Expert Andrew Jollett. See how it ranks!

209 N 16th Ave

1605 W Latham St

Seventh

The Venue on Camelback Apartments

2417 West Campbell Ave

610 N 4th Ave

Amara Apartments

1601 W Camelback Rd

The Wexler Apartments

Valencia Park
Phoenix's Best Affordable Neighborhoods
Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

Kinley at Biltmore

The Resort on 27th

The Loreto Apartments

Park Terrace

Courtyard at Encanto Apartments

Capri on Camelback

1145-1147 W Fillmore St

Roosevelt Point

Ava North & South

16th Ave Apartments

Terra Villa Apartments

Papago Gardens Apartments

Coral Gardens

Prados Apartments at Arcadia

Cactus Canyon

2238 E Polk St

1625 W Missouri Ave

The Palmer

1645 E Thomas Rd

Papago Vista

Senara Apartments

2036 W Adams St

Summit on Thomas

The Onyx Apartments

Parq at East Arcadia

The Retro on 32nd Street Apartments

X Phoenix

Papago Crossing
Downtown Phoenix, Phoenix, AZ Local Guide

How much does it cost to rent an apartment in Downtown Phoenix?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Downtown Phoenix Studio Apartments | $1,387 | $672 | $3,786 |
Downtown Phoenix 1 Bedroom Apartments | $1,739 | $670 | $5,790 |
Downtown Phoenix 2 Bedroom Apartments | $2,364 | $799 | $10,000+ |
Downtown Phoenix 3 Bedroom Apartments | $2,689 | $900 | $10,000+ |
Downtown Phoenix 4 Bedroom Apartments | $1,517 | $850 | $6,000 |
Browse Apartments in this Neighborhood
There are currently 518 rentals with your search options within a 2 mile radius of the Downtown Phoenix Neighborhood of Phoenix, AZ.
See all Apartments in PhoenixExplore Phoenix
Downtown Phoenix, Phoenix, AZ Local Guide
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Cheapest Available Downtown Phoenix Apartments for Rent
 The cheapest available apartment rental in the Downtown Phoenix area of Phoenix, AZ is a 1 Bed unit found at McCarty on Monroe priced from $647. 2025 West Apartment Homes has the second lowest priced unit, which is a Studio apartment currently listed from $652. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
McCarty on Monroe | 1 Bedroom (A) | 1BR,1BA | $647 |
2025 West Apartment Homes | S1 | Studio,1BA | $652 |
Marquee | One Bedroom 559 Sq Ft A | 1BR,1BA | $670 |
Vista Village on Van Buren | Studio | Studio,1BA | $699 |
Crosstown Phoenix | e10a - East | Studio,1BA | $714 |
Park Lee | One-Bedroom | 1BR,1BA | $715 |
Victory Place I-IV | Studio | Studio,1BA | $720 |
The Venue on Camelback Apartments | Honey | Studio,1BA | $726 |
Spectra Midtown | S2C | Studio,1BA | $773 |
Collins off Colter* | S1U2 | Studio,1BA | $783 |
Best Value Apartments for Rent in Downtown Phoenix, AZ
As of April 11, 2025 the best value apartment in the Downtown Phoenix area is the $1.35 price per square foot The Cardinal Model at Nido 18 in the in the South Phoenix neighborhood starting from $2,095. The second greatest value Downtown Phoenix apartment is the Two Bedroom 1.5 Bath Model at Camelback Gardens starting at $1,350 with a $1.10 price per square foot in the Downtown Phoenix neighborhood. Here is today’s list of the best values for Downtown Phoenix apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Nido 18 | The Cardinal | 3BR,3BA | $1.35 |
Camelback Gardens | Two Bedroom 1.5 Bath | 2BR,1.5BA | $1.10 |
Rancho Montanas Senior Apartments | A2 | 2BR,2BA | $1.01 |
Legacy Crossing I & II | LG2 2 Bedroom | 2BR,2BA | $0.92 |
Cactus Canyon | Two Bedroom - Two Bathroom | 2BR,2BA | $1.26 |
Camelback Courtyard | Two Bedroom/ one and a Half Bath | 2BR,1.5BA | $1.34 |
2234 W Medlock Dr | 1 Bedroom | 1BR,1BA | $1.35 |
McCarty on Monroe | 1 Bedroom (A) | 1BR,1BA | $0.93 |
Park Lee | One-Bedroom | 1BR,1BA | $1.06 |
Marquee | One Bedroom 559 Sq Ft A | 1BR,1BA | $1.04 |
Quick Rent Budget Calculator
How much rent can you afford?
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Pet Friendly LifestyleDowntown Phoenix, Phoenix, AZ
Ranked #4
Among neighborhoods in Phoenix, AZ for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Phoenix, Phoenix, AZ
Phoenix Union Bioscience High School
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving.com works hard to bring you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Phoenix. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, pet-friendly features, family-friendliness, proximity to transit, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Downtown Phoenix Apartments
What is a cheap apartment in Downtown Phoenix?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Phoenix is under $783.
What is the price of a cheap apartment in Downtown Phoenix?
The cheapest apartment in Downtown Phoenix is McCarty on Monroe which is listed at $647, while the average apartment in Downtown Phoenix costs $2,248.
What types of apartments are the cheapest in Downtown Phoenix?
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 168 regular apartments in Downtown Phoenix 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 Downtown Phoenix?
Cheap apartments in Downtown Phoenix have an average cost of $151 which is $2,097 cheaper than the average rent for all rentals in Downtown Phoenix.
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.

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).

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.

Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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.