Cheap Apartments for Rent in Santa Margarita, CA from $600 (7 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Santa Margarita.

close
View Me
424 East Mill Street
1 to 4 Bedroom Apartments

424 East Mill Street

418-424 E Mill StSanta Maria, CA 93454
Student Housing

Santa Margarita, CA Local Guide

Cheapest Available Santa Margarita Apartments for Rent and Nearby

 

The cheapest available apartment rental in Santa Margarita, CA is a 5 Beds unit found at The SLO Apartments in the Valle Vista neighborhood priced from $699. Sierra Sands in the Harvest Glen neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $905. Here is today’s list of the most affordable Santa Margarita apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The SLO ApartmentsLarge SHARED Room in a 5 Bed, 2 Bath Suite (MUS...5BR,2BA$699
Sierra Sands1 Bedroom 1 Bath1BR,1BA$905
California Grand Manor Senior ApartmentsStudioStudio,1BA$1,030

Best Value Apartments for Rent in Santa Margarita, CA and Nearby

As of March 22, 2025 the best value apartment in the Santa Margarita area is the $2.65 price per square foot Three Bedroom Townhome Model at ReNew Atascadero in the in the Atascadero Templeton neighborhood starting from $3,395. The second greatest value Santa Margarita apartment is the 2 Bedroom with Laundry Model at Villa Del Rio starting at $2,750 with a $2.82 price per square foot in the The Summit neighborhood. Here is today’s list of the best values for Santa Margarita apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
ReNew AtascaderoThree Bedroom Townhome3BR,2.5BA$2.65
Villa Del Rio2 Bedroom with Laundry2BR,1BA$2.82
La Plaza Villas3/1 Flat3BR,1BA$2.78
Bordeaux House ApartmentsTwo Bedroom Two Bath2BR,2BA$1.81
The Oaks at Jornada2BR/2.0BA2BR,2BA$2.54
Dry Creek212BR,1BA$2.31
Irish Hills Hamlet Apartments2BR/1.0BA2BR,1BA$2.94
Hancock Terrace ApartmentsDeco1BR,1BA$2.88
Sierra Sands1 Bedroom 1 Bath1BR,1BA$1.61
California Grand Manor Senior ApartmentsStudioStudio ,1BA$1.90

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

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

Explore Santa Margarita, CA Rentals by Map

View MapSanta Margarita, CA Apartments MapView MapSanta Margarita, CA Rental Homes Map

Frequently Asked Questions about Cheap Santa Margarita Apartments

What is the Cheapest Studio apartment in Santa Margarita?

Currently the most affordable Cheap Studio Apartment in Santa Margarita is at California Grand Manor Senior Apartments listed at $1,030.

How much is rent for a Cheap One Bedroom Santa Margarita Apartment?

The lowest price for a Cheap One Bedroom Santa Margarita Apartment is $905 at Sierra Sands.

What is the lowest price for a Cheap Two Bedroom Santa Margarita Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Santa Margarita is starting from $1,088 at Sierra Sands.

What is the most affordable Santa Margarita Three Bedroom Apartment?

The best deal on a cheap Santa Margarita Three Bedroom Apartment rental is at Sierra Sands and starts from $1,258.

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.

decorative image for What to Know About Fees and Fines When Renting article

What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit  article

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.