Cheap Apartments for Rent in the Downtown Phoenix Neighborhood of Phoenix, AZ from $500 (511 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Phoenix area of Phoenix.

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1601 Camelback Rd
$714Studio, 1 Bath RentalsAvailable Now

1601 Camelback Rd

Phoenix, AZ 85015
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1548 W McKinley St
$7291 Bedroom, 1 Bath Home for RentAvailable Now

1548 W McKinley St

Phoenix, AZ 85007
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Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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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!

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1645 Thomas Rd
$892Studio, 1 Bath RentalsAvailable Now

1645 Thomas Rd

Phoenix, AZ 85016
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Downtown Phoenix, Phoenix, AZ Local Guide

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 $530. Crosstown Phoenix has the second lowest priced unit, which is a Studio apartment currently listed from $645. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
McCarty on Monroe1 Bedroom (A)1BR,1BA$530
Crosstown Phoenixe10a - WestStudio,1BA$645
Vista Village on Van BurenStudioStudio,1BA$699
Park LeeOne-Bedroom1BR,1BA$715
Victory Place I-IVStudioStudio,1BA$720
2025 West Apartment HomesS1Studio,1BA$753
SeventhStudio - ClassicStudio,1BA$766
Spectra MidtownS2CStudio,1BA$773
Sunset Sound Studio ApartmentsSTUStudio,1BA$795
Omnia on ThomasCoronadoStudio,1BA$795

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of February 27, 2025 the best value apartment in the Downtown Phoenix area is the $1.41 price per square foot The Quail Model at Nido 18 in the in the South Phoenix neighborhood starting from $1,750. 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Nido 18The Quail2BR,2.5BA$1.41
Camelback GardensTwo Bedroom 1.5 Bath2BR,1.5BA$1.10
Legacy Crossing I & II3 bedroom3BR,2BA$0.80
Cactus CanyonTwo Bedroom - Two Bathroom2BR,2BA$1.36
New Horizons2 Bed 2 Bath2BR,2BA$1.36
Parq at East ArcadiaB12BR,1BA$1.39
2501 E Culver St, Unit B2501 E Culver St1BR,1BA$1.39
Osborn Place1 Bed - 1 Bath B1BR,1BA$1.38
McCarty on Monroe1 Bedroom (A)1BR,1BA$0.77
Park LeeOne-Bedroom1BR,1BA$1.06

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Pet Friendly Lifestyle
Downtown Phoenix, Phoenix, AZ

Ranked #4

Among neighborhoods in Phoenix, AZ for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Phoenix, Phoenix, AZ

School data provided by Great Schools

Best Local Schools in
Downtown Phoenix, Phoenix, AZ

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 the Cheapest Studio apartment in Downtown Phoenix?

Currently the most affordable Cheap Studio Apartment in Downtown Phoenix is at Crosstown Phoenix listed at $635.

How much is rent for a Cheap One Bedroom Downtown Phoenix Apartment?

The lowest price for a Cheap One Bedroom Downtown Phoenix Apartment is $530 at McCarty on Monroe.

What is the lowest price for a Cheap Two Bedroom Downtown Phoenix Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Phoenix is starting from $854 at Park Lee.

What is the most affordable Downtown Phoenix Three Bedroom Apartment?

The best deal on a cheap Downtown Phoenix Three Bedroom Apartment rental is at Legacy Crossing I & II and starts from $941.

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.

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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).

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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.

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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.

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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.