Cheap Apartments for Rent in Tempe, AZ from $500(313 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done
Showing Results 1-50, Page 1 of 7

Tempe, AZ Local Guide

Photo of Staff Writer - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 12/16/2024

Current apartment rentals in the Tempe, AZ area range in price from $549 to $14,000 with an overall median price of $2,243. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $950, Tally Ho Farms Raintree at $1,075, and Alameda at $549. 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$1,923$950172
Tally Ho Farms Raintree$1,926$1,075211
Alameda$2,023$5491321
The Lakes$2,162$917200
Apache$2,197$700768
West Chandler$2,385$1,075379
South Tempe$3,089$950394

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 Studio apartment currently listed from $855. 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 ParkSonomaStudio,1BA$855
Villetta Apartment HomesS1Studio,1BA$866
Sono TempeOlsenStudio,1BA$917
Terra VidaSAStudio,1BA$925
WaterstoneStudio S1-380Studio,1BA$945
The LinkStudio1BR,1BA$950
Emerald ApartmentsStudioStudio,1BA$950
Tides on UniversityA1Studio,1BA$950

Best Value Apartments for Rent in Tempe, AZ

As of December 16, 2024 the best value apartment in the Tempe area is the $1.29 price per square foot 3x3 Mud Room, Extended Garage Model at Roosevelt Luxury Townhomes in the in the Downtown Tempe neighborhood starting from $3,200. The second greatest value Tempe apartment is the Furnished Townhome Model at Lofts on 8th | Student Housing starting at $1,269 with a $0.68 price per square foot in the Downtown Tempe 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.
Roosevelt Luxury Townhomes3x3 Mud Room, Extended Garage3BR,3BA$1.29
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.68
IndigoTribute 2.12BR,2BA$1.31
Avenue 8B12BR,2BA$1.08
New Horizons2 Bed 2 Bath2BR,2BA$1.26
University Valley Apartments2x2 (By the Bedspace with a Private Bathroom)Mo...2BR,2BA$0.91
Papago Gardens ApartmentsPapago Gardens - Courtyard2BR,2BA$1.47
Corsican2 Bed - 1 Bath2BR,1BA$1.42
The Willowbrook Apartments2 Beds, 1 Baths2BR,1BA$1.28
Cape Cod ApartmentsTwo Bedroom2BR,1BA$1.44

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

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.

Tempe, AZ
Population: 192,364

Ranked #130

in US Census Population by City

decorative image of people examining a giant globe and floating graphs

Pet Friendly Lifestyle
Tempe, AZ

Ranked #3

Among cities in Arizona for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

decorative image of woman handing cat to small boy

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

Decorative image of map

See the most popular apartments and homes in Tempe, AZ

View MapTempe, AZ Apartments MapView MapTempe, AZ Rental Homes Map

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 $868 at Vista Village on Van Buren.

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 $1,004 at Villetta Apartment Homes.

What is the most affordable Tempe Three Bedroom Apartment?

The best deal on a cheap Tempe Three Bedroom Apartment rental is at Terra Vida and starts from $1,622.

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 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 Navigating the World of Low-Income Housing: A Comprehensive Guide article

Navigating the World of Low-Income Housing: A Comprehensive Guide

Written by: Kevin Ready

Are you having difficulty keeping up with bills or paying the rent? If so, you are not alone. Many families struggle to keep up with rents that have increased up to 40% in the past decade.

decorative image for Signing Your Apartment Lease: The Basics article

Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.

decorative image for Real Estate Term Glossary: Your Guide to The A to Zs of Renting article

Real Estate Term Glossary: Your Guide to The A to Zs of Renting

Written by: Kevin Ready

Navigating the world of real estate can reveal an abundance of terminology and phrasing around the topics of renting and buying that for some may seem like a brand-new language.