Cheap Apartments for Rent in Tempe, AZ from $600 (329 Rentals)

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

Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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Tempe, AZ Local Guide

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Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 03/18/2025

Current apartment rentals in the Tempe, AZ area range in price from $650 to $14,000 with an overall median price of $2,189. The three Tempe neighborhoods with the lowest median rent pricing are Alameda at $650, Guadalupe at $898, and The Lakes at $922. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Alameda$1,999$65034748
Guadalupe$2,040$8983909
The Lakes$2,071$9225970
Tally Ho Farms Raintree$2,178$1,1475131
West Chandler$2,236$1,1409981
Apache$2,344$65018287
South Tempe$2,455$89810642

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Vista Village on Van Buren in the South Phoenix neighborhood priced from $699. Valencia Park in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $820. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vista Village on Van BurenStudioStudio,1BA$699
Valencia ParkCoronado1BR,1BA$820
Tides on UniversityA1Studio,1BA$855
The LinkStudioStudio,1BA$875
University Pointe ApartmentsStudioStudio,1BA$898
The Mod at MillsS1Studio,1BA$898
The Molino ApartmentsStudio 325sqftStudio,1BA$899
Central on BroadwayAStudio,1BA$907
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$910

Best Value Apartments for Rent in Tempe, AZ

As of March 18, 2025 the best value apartment in the Tempe area is the $1.22 price per square foot 1726 W Jeanine Dr Model at 1726 W Jeanine Dr in the in the South Phoenix neighborhood starting from $3,788. The second greatest value Tempe apartment is the 4768 W Tyson St Model at 4768 W Tyson St starting at $3,300 with a $1.30 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.
1726 W Jeanine Dr1726 W Jeanine Dr4BR,3BA$1.22
4768 W Tyson St4768 W Tyson St4BR,2BA$1.30
1126 E Alameda Dr1126 E Alameda Dr5BR,3BA$1.25
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.59
5633 W Butler Dr5633 W Butler Dr3BR,2BA$1.31
4112 E St Anne Ave4112 E St Anne Ave3BR,2BA$1.16
San MarinoA11BR,1BA$1.26
Avenue 8B12BR,2BA$1.11
New Horizons2 Bed 2 Bath2BR,2BA$1.36
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 #2

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 the Cheapest Studio apartment in Tempe?

Currently the most affordable Cheap Studio Apartment in Tempe is at Vista Village on Van Buren listed at $699.

How much is rent for a Cheap One Bedroom Tempe Apartment?

The lowest price for a Cheap One Bedroom Tempe Apartment is $820 at Valencia Park.

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

Today's best deal for a Cheap Two Bedroom Apartment in Tempe is starting from $899 at Vista Village on Van Buren.

What is the most affordable Tempe Three Bedroom Apartment?

The best deal on a cheap Tempe Three Bedroom Apartment rental is at The Link and starts from $1,600.

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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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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What to Know About Fees and Fines When Renting

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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.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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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.