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Cheap Apartments for Rent in San Luis Obispo, CA from $600 (7 Rentals)
Search the lowest-cost Apartments available for rent right now in San Luis Obispo.
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San Luis Obispo, CA Local Guide
Los Osos Valley Sunset by Jesse Palmer is licensed under CC BY 2.0
How much does it cost to rent an apartment in San Luis Obispo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap San Luis Obispo Studio Apartments | $2,299 | $1,772 | $2,615 |
| Cheap San Luis Obispo 1 Bedroom Apartments | $2,385 | $1,995 | $3,355 |
| Cheap San Luis Obispo 2 Bedroom Apartments | $2,969 | $999 | $3,905 |
| Cheap San Luis Obispo 3 Bedroom Apartments | $3,820 | $3,300 | $5,400 |
| Cheap San Luis Obispo 4 Bedroom Apartments | $1,739 | $1,655 | $1,905 |
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San Luis Obispo, CA Local Guide
Written By:
Staff Writer Local Guide Expert
- San Luis Obispo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in San Luis Obispo, CA
Pricing Updated: 03/28/2025Current apartment rentals in the San Luis Obispo, CA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for San Luis Obispo Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| 3592 Broad | $3,340 | $1,850 | 21 |
| Laguna Lake | $3,475 | $1,645 | 35 |
| Valle Vista | $4,400 | $699 | 29 |
Cheapest Available San Luis Obispo Apartments for Rent
The cheapest available apartment rental in San Luis Obispo, CA is a 5 Beds unit found at The SLO Student Living Apartments in the Valle Vista neighborhood priced from $699. University Chorro Commons in the Valle Vista neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,000. Here is today’s list of the most affordable San Luis Obispo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The SLO Student Living Apartments | Large SHARED Room in a 5 Bed, 2 Bath Suite (MUS... | 5BR,2BA | $699 |
| University Chorro Commons | 1/1 | 1BR,1BA | $2,000 |
| Irish Hills Hamlet Apartments | 1BR/1.0BA | 1BR,1BA | $2,100 |
Best Value Apartments for Rent in San Luis Obispo, CA
As of March 28, 2025 the best value apartment in the San Luis Obispo area is the $3.92 price per square foot 2BR/2.0BA Model at Twin Creeks Apartments in the in the 3592 Broad neighborhood starting from $3,250. The second greatest value San Luis Obispo apartment is the 1BR/1.0BA Model at Irish Hills Hamlet Apartments starting at $2,100 with a $2.80 price per square foot in the Valle Vista neighborhood. Here is today’s list of the best values for San Luis Obispo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Twin Creeks Apartments | 2BR/2.0BA | 2BR,2BA | $3.92 |
| Irish Hills Hamlet Apartments | 1BR/1.0BA | 1BR,1BA | $2.80 |
| University Chorro Commons | 1/1 | 1BR,1BA | $3.33 |
| Vintage at SLO | The Napa | Studio ,1BA | $4.79 |
| Connect SLO | The Studio | Studio ,1BA | $4.90 |
| Harvest Lofts | Studio | Studio ,1BA | $5.79 |
| The SLO Student Living Apartments | Large SHARED Room in a 5 Bed, 2 Bath Suite (MUS... | 5BR,2BA | $7.52 |
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San Luis Obispo Overview
A college town that lies midway between San Francisco and Los Angeles, San Luis Obispo is the perfect place to settle down. With its temperate climate, natural spaces and wine-country charm, the city pairs cultural enrichment with all-out fun. Plenty of options in great San Luis Obispo apartments make settling here easy.
Why live in San Luis Obispo, CA?
" San Luis Obispo is a special place to live, and the recognition the town receives confirms it. It is regularly listed among the most romantic towns in the United States. In addition, it is considered one of the best college cities and one of the best places to visit. It is also named as one of the healthiest and friendliest towns. San Luis Obispo residents always have something to do and a beautiful, organic environment in which to do it. They can visit nearby wineries, hike or bike through beautiful, unspoiled spaces, relax on an uncrowded beach or visit a local art center or museum. "
Best Local Schools in San Luis Obispo, CA
San Luis Obispo High
San Luis Coastal Unified School District
Public School - Grades 9-12 (1644)
8 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore San Luis Obispo, CA Rentals by Map
See the most popular apartments and homes in San Luis Obispo, CA
San Luis Obispo, CA Apartments MapSan Luis Obispo, CA Rental Homes MapGetting Around San Luis Obispo, CA
Walk Score®
67 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
77 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
27 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap San Luis Obispo Apartments
What is a cheap apartment in San Luis Obispo?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in San Luis Obispo is under $2,675.
What is the price of a cheap apartment in San Luis Obispo?
The cheapest apartment in San Luis Obispo is University Chorro Commons which is listed at $2,000, while the average apartment in San Luis Obispo costs $3,738.
What types of apartments are the cheapest in San Luis Obispo?
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 3 regular apartments in San Luis Obispo that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.
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.
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.