Cheap Apartments for Rent in Tempe, AZ from $600 (379 Rentals)

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Tempe, AZ Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 05/19/2025

Current apartment rentals in the Tempe, AZ area range in price from $650 to $15,224 with an overall median price of $2,706. The three Tempe neighborhoods with the lowest median rent pricing are Tally Ho Farms Raintree at $1,111, Alameda at $650, and Guadalupe at $898. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Tally Ho Farms Raintree$1,999$1,111149
Alameda$2,180$6501270
Guadalupe$2,280$898135
West Chandler$2,835$1,111303
South Tempe$2,870$898359
The Lakes$3,180$909216
Apache$3,600$650629

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at The Molino Apartments in the South Phoenix neighborhood priced from $799. Valencia Park in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $805. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Molino ApartmentsStudio 325sqftStudio,1BA$799
Valencia ParkSonomaStudio,1BA$805
Tides on UniversityS1 CStudio,1BA$865
Villetta Apartment HomesS1Studio,1BA$890
Scottsdale GatewayBayStudio,1BA$895
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896
University Pointe ApartmentsStudioStudio,1BA$898
MargoStudioStudio,1BA$899
Axio Apartments1x11BR,1BA$900
The Link ApartmentsOne Bedroom West1BR,1BA$900

Best Value Apartments for Rent in Tempe, AZ

As of May 19, 2025 the best value apartment in the Tempe area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Tempe apartment is the 1211 N. Miller Road Model at 1211 N. Miller Road, Unit 260 starting at $1,650 with a $1.38 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
1211 N. Miller Road, Unit 2601211 N. Miller Road2BR,2BA$1.38
San MarinoA11BR,1BA$1.29
Avana Chandler2x1.51120 Sophisticated2BR,1.5BA$1.40
Avenue 8B12BR,2BA$1.20
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.38
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.31
Nine20 TempeB12BR,2BA$1.39
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36

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Tempe Overview

Tempe, Arizona is in the heart of the Phoenix metro valley and has been experiencing exciting growth in recent years. Abundant sunshine, outdoor activities, a lively restaurant and entertainment scene, burgeoning tech economy, proximity to Arizona State University and moderate cost of living all make Tempe a desirable place to live.

Why live in Tempe, AZ?

Tempe is a vibrant city that is home to one of the largest U.S. universities and offers something for everyone - from sports fans to outdoor enthusiasts to foodies and life-long learners. The city embodies a resilient and progressive spirit and is quickly attracting new residents, businesses and amenities. Choosing to live in a Tempe apartment also has the added benefit of being located close to the cities of Phoenix, Scottsdale and Mesa.

Pet Friendly Lifestyle
Tempe, AZ

Ranked #4

Among cities in Arizona for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Tempe, AZ

School data provided by Great Schools

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

Explore Tempe, AZ Rentals by Map

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See the most popular apartments and homes in Tempe, AZ

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Getting Around Tempe, AZ

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

74 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

46 / 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 Tempe Apartments

What is a cheap apartment in Tempe?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Tempe is under $900.

What is the price of a cheap apartment in Tempe?

The cheapest apartment in Tempe is Valencia Park which is listed at $835, while the average apartment in Tempe costs $2,706.

What types of apartments are the cheapest in Tempe?

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 397 regular apartments in Tempe that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Tempe?

Cheap apartments in Tempe have an average cost of $383 which is $2,323 cheaper than the average rent for all rentals in Tempe.

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

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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

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

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Navigating the Rental Market: Tips for First-Time Renters

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