Cheap Apartments for Rent in San Luis Obispo, CA from $600 (7 Rentals)

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Search the lowest-cost Apartments available for rent right now in San Luis Obispo.

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Sheri Apartments
1 Bedroom Apartments

Sheri Apartments

721 Johnson AveSan Luis Obispo, CA 93401
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Fairview Apartments
1 to 2 Bedroom Apartments

Fairview Apartments

1630 Fairview StSan Luis Obispo, CA 93401
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College Gardens
1 to 2 Bedroom Apartments

College Gardens

284 N Chorro StSan Luis Obispo, CA 93405
Student Housing
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El Dorado Apartments
1 to 3 Bedroom Apartments

El Dorado Apartments

555 Westmont AveSan Luis Obispo, CA 93405
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Garfield Arms Apartments
Studio to 2 Bedroom Apartments

Garfield Arms Apartments

738 Grand AveSan Luis Obispo, CA 93401
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San Luis Obispo, CA Local Guide

Photo of Staff Writer  - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in San Luis Obispo, CA

Pricing Updated: 03/28/2025

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
3592 Broad$3,340$1,85021
Laguna Lake$3,475$1,64535
Valle Vista$4,400$69929

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 ListingModel NameBed/BathPriced From
The SLO Student Living ApartmentsLarge SHARED Room in a 5 Bed, 2 Bath Suite (MUS...5BR,2BA$699
University Chorro Commons1/11BR,1BA$2,000
Irish Hills Hamlet Apartments1BR/1.0BA1BR,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Twin Creeks Apartments2BR/2.0BA2BR,2BA$3.92
Irish Hills Hamlet Apartments1BR/1.0BA1BR,1BA$2.80
University Chorro Commons1/11BR,1BA$3.33
Vintage at SLOThe NapaStudio ,1BA$4.79
Connect SLOThe StudioStudio ,1BA$4.90
Harvest LoftsStudioStudio ,1BA$5.79
The SLO Student Living ApartmentsLarge 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. "

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore San Luis Obispo, CA Rentals by Map

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Getting 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

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.

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