Cheap Apartments for Rent in Tempe, AZ from $600 (395 Rentals)

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

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Tempe, AZ Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 04/19/2025

Current apartment rentals in the Tempe, AZ area range in price from $650 to $14,000 with an overall median price of $2,760. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $898, Alameda at $650, and Apache at $650. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Guadalupe$1,986$898165
Alameda$2,180$6501394
Apache$2,458$650740
The Lakes$2,947$885231
South Tempe$3,000$898432
Tally Ho Farms Raintree$3,300$1,201172
West Chandler$3,450$1,201293

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at The Link Apartments in the South Phoenix neighborhood priced from $799. Tides on University in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $860. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Link ApartmentsStudioStudio,1BA$799
Tides on UniversityA1Studio,1BA$860
Valencia ParkCoronado1BR,1BA$870
Sentry TempeReef1BR,1BA$885
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896
The Mod at MillsS1Studio,1BA$898
University Pointe ApartmentsStudioStudio,1BA$898
The Molino ApartmentsStudio 315sqftStudio,1BA$899
Riverside ApartmentsStudioStudio,1BA$902
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$910

Best Value Apartments for Rent in Tempe, AZ

As of April 19, 2025 the best value apartment in the Tempe area is the $0.59 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $1,099. 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$0.59
1211 N. Miller Road, Unit 2601211 N. Miller Road2BR,2BA$1.38
Avenue 8B12BR,2BA$1.12
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.39
Monterey Apartments2x22BR,2BA$1.39
Allure at Tempe ApartmentsAgave2BR,2BA$1.28
Corsican2 Bed - 1 Bath2BR,1BA$1.42
Nine20 TempeB12BR,2BA$1.39
MadEry ApartmentsSaguaro2BR,1BA$1.41
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 $910.

What is the price of a cheap apartment in Tempe?

The cheapest apartment in Tempe is Valencia Park which is listed at $870, while the average apartment in Tempe costs $2,760.

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 375 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 $534 which is $2,226 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

Written by: Andrew Jollett

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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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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.