Cheap Homes for Rent in Downtown Phoenix Neighborhood of Phoenix, AZ from $700 (92 Rentals)

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

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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property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008

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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property at 4401 N 12th St

4401 N 12th St

PhoenixAZ85014
property at 4301 N 24th St

4301 N 24th St

PhoenixAZ85016
property at 5040 N 18th Ave

5040 N 18th Ave

PhoenixAZ85015
property at 2254 N 17th Ave

2254 N 17th Ave

PhoenixAZ85007
property at 3848 N 3rd Ave

3848 N 3rd Ave

PhoenixAZ85013
property at 2118 E Oak St

2118 E Oak St

PhoenixAZ85006
property at 3828 N 32nd St

3828 N 32nd St

PhoenixAZ85018
property at 1826 N 51st St

1826 N 51st St

PhoenixAZ85008
Showing Results 1-50, Page 1 of 2

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 $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 ListingModel NameBed/BathPriced From
McCarty on Monroe1 Bedroom (A)1BR,1BA$647
2025 West Apartment HomesS1Studio,1BA$652
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$670
Crosstown Phoenixe10a - EastStudio,1BA$672
Vista Village on Van BurenStudioStudio,1BA$699
Park LeeOne-Bedroom1BR,1BA$715
Victory Place I-IVStudioStudio,1BA$720
Spectra MidtownS2CStudio,1BA$773
Collins off Colter*S1U2Studio,1BA$783
Omnia on ThomasCoronadoStudio,1BA$794

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of April 14, 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Nido 18The Cardinal3BR,3BA$1.35
Camelback GardensTwo Bedroom 1.5 Bath2BR,1.5BA$1.10
Rancho Montanas Senior ApartmentsA22BR,2BA$1.01
Legacy Crossing I & IILG2 2 Bedroom2BR,2BA$0.92
Cactus CanyonTwo Bedroom - Two Bathroom2BR,2BA$1.26
Camelback CourtyardTwo Bedroom/ one and a Half Bath2BR,1.5BA$1.34
2234 W Medlock Dr1 Bedroom1BR,1BA$1.35
McCarty on Monroe1 Bedroom (A)1BR,1BA$0.93
Park LeeOne-Bedroom1BR,1BA$1.06
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$1.04

Quick Rent Budget Calculator

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Frequently Asked Questions about Downtown Phoenix

What type of rentals are currently available in Downtown Phoenix?

There are currently 2167 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $633 to $16,199. There are also 420 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $849 to $51,000.

What is the current price range for Rental Homes in Downtown Phoenix?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Phoenix ranges from $849 to $51,000 with an average monthly rent of $12,613.

How much are larger Three and Four Bedroom Rentals in Downtown Phoenix?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Phoenix range from $925 to $14,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $29,000. Four Bedroom Single-Family rentals are also available starting from $1,825 and Four Bedroom Apartments start at $875.

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 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 Renting Smart: Lease Basics Every Renter Needs article

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.

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.