Cheap Homes for Rent in San Luis Obispo, CA from $1,200 (14 Rentals)

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San Luis Obispo, CA Local Guide

Cheapest Neighborhoods for Apartments in San Luis Obispo, CA

Pricing Updated: 03/26/2025

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$1,850525
Laguna Lake$3,475$1,645838
Valle Vista$4,400$699687

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 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 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
Connect SLOThe StudioStudio,1BA$2,337
Harvest LoftsStudioStudio,1BA$2,355

Best Value Apartments for Rent in San Luis Obispo, CA

As of March 26, 2025 the best value apartment in the San Luis Obispo area is the $2.94 price per square foot 2BR/1.0BA Model at Irish Hills Hamlet Apartments in the in the Valle Vista neighborhood starting from $2,500. The second greatest value San Luis Obispo apartment is the 2BR/2.0BA Model at Twin Creeks Apartments starting at $3,250 with a $3.92 price per square foot in the 3592 Broad 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.
Irish Hills Hamlet Apartments2BR/1.0BA2BR,1BA$2.94
Twin Creeks Apartments2BR/2.0BA2BR,2BA$3.92
University Chorro Commons1/11BR,1BA$3.33
Vintage at SLOThe NapaStudio ,1BA$4.79
Connect SLOThe StudioStudio ,1BA$4.90
Harvest LoftsPlan A1BR,1BA$5.86
The SLO Student Living ApartmentsLarge SHARED Room in a 5 Bed, 2 Bath Suite (MUS...5BR,2BA$7.52

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Frequently Asked Questions about San Luis Obispo

What type of rentals are currently available in San Luis Obispo?

There are currently 164 Apartments for Rent in San Luis Obispo, CA with pricing that ranges from $699 to $5,400. There are also 70 Single Family Homes for rent, Condos, and Townhome rentals currently available in San Luis Obispo ranging from $1,200 to $11,700.

What is the current price range for Rental Homes in San Luis Obispo?

Today's rental pricing for Homes for Rent, Condos and Townhomes in San Luis Obispo ranges from $1,200 to $11,700 with an average monthly rent of $5,958.

How much are larger Three and Four Bedroom Rentals in San Luis Obispo?

For those who are looking for larger living arrangements, Three Bedroom Apartments in San Luis Obispo range from $3,300 to $5,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $7,500. Four Bedroom Single-Family rentals are also available starting from $4,000 and Four Bedroom Apartments start at $1,655.

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 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.

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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.

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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.

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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.