Cheap Homes for Rent in Downtown Phoenix Neighborhood of Phoenix, AZ from $700 (124 Rentals)

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

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.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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property at 4301 N 24th St

4301 N 24th St

PhoenixAZ85016

Downtown Phoenix - One of the Best Affordable Neighborhoods in 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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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, 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 Studio unit found at The Venue on Camelback Apartments priced from $634. Marquee has the second lowest priced unit, which is a 1 Bed apartment currently listed from $670. Here are the most affordable Downtown Phoenix apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
The Venue on Camelback ApartmentsHoneyStudio,1BA$634
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$670
Crosstown Phoenixe10a - WestStudio,1BA$683
SeventhStudio - ClassicStudio,1BA$704
Park LeeOne-Bedroom1BR,1BA$715
McCarty on Monroe1 Bedroom (A)1BR,1BA$717
Victory Place I-IVStudioStudio,1BA$720
2025 West Apartment HomesS1Studio,1BA$771
Spectra MidtownS2CStudio,1BA$773
Omnia on ThomasCoronadoStudio,1BA$794

Best Value Apartments for Rent in Downtown Phoenix, AZ

As of May 10, 2025 the best value apartment in the Downtown Phoenix area is the $1.34 price per square foot 3bd + Bonus Room / 2.5 bt Model at Gifford Groves in the in the Downtown Phoenix neighborhood starting from $2,900. 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.
Gifford Groves3bd + Bonus Room / 2.5 bt3BR,2.5BA$1.34
Camelback GardensTwo Bedroom 1.5 Bath2BR,1.5BA$1.10
Legacy Crossing I & II3 bedroom3BR,2BA$0.97
Cactus CanyonTwo Bedroom - Two Bathroom2BR,2BA$1.26
Colter ApartmentsTwo Bedroom2BR,1BA$1.29
Aspire Camelback2 Bedroom x 1 Bath2BR,1BA$1.35
Brill Square Apartments2 Beds, 1 bath2BR,1BA$1.37
McCarty on Monroe1 Bedroom (A)1BR,1BA$1.04
Park LeeOne-Bedroom1BR,1BA$1.06
MarqueeOne Bedroom 559 Sq Ft A1BR,1BA$1.04

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Downtown Phoenix

What type of rentals are currently available in Downtown Phoenix?

There are currently 2169 Apartments for Rent in Downtown Phoenix, AZ with pricing that ranges from $634 to $16,199. There are also 480 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Phoenix ranging from $750 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 $750 to $51,000 with an average monthly rent of $12,765.

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 $899 to $14,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $27,000. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $849.

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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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.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.