Cheap Apartments for Rent in Tempe, AZ from $600 (393 Rentals)

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Phoenix's Best Affordable Neighborhoods

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1008 S Mariana St
$1,100Studio, 1 Bath RentalsAvailable Now

1008 S Mariana St

Tempe, AZ 85281
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Tempe, AZ Local Guide

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Written By:
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Local Guide Expert

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 02/16/2025

Current apartment rentals in the Tempe, AZ area range in price from $740 to $18,038 with an overall median price of $2,248. The three Tempe neighborhoods with the lowest median rent pricing are Tally Ho Farms Raintree at $1,179, Alameda at $740, and The Lakes at $976. 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$2,027$1,1795894
Alameda$2,078$74033071
The Lakes$2,184$9765492
West Chandler$2,185$1,17911238
Apache$2,396$74018114
Guadalupe$2,435$8984173
South Tempe$2,435$8989762

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 $800. 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$800
Monterey VillageS1RP | StudioStudio,1BA$800
Sentry TempeKonaStudio,1BA$894
Tides on UniversityA1Studio,1BA$895
The Mod at MillsS1Studio,1BA$898
Terra VidaSAStudio,1BA$910
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$910
Central on BroadwayAStudio,1BA$919

Best Value Apartments for Rent in Tempe, AZ

As of February 16, 2025 the best value apartment in the Tempe area is the $0.67 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $1,249. The second greatest value Tempe apartment is the 2 Bed 2 Bath Townhouse Model at Riverview Townhomes starting at $1,600 with a $1.43 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$0.67
Riverview Townhomes2 Bed 2 Bath Townhouse2BR,2BA$1.43
Avenue 8B12BR,2BA$1.05
Candela ParkRenovated 2 Bedroom - 2 Bath2BR,2BA$1.47
Monterey Apartments2x22BR,2BA$1.39
New Horizons2 Bed 2 Bath2BR,2BA$1.26
Parq at East ArcadiaB12BR,1BA$1.32
Corsican2 Bed - 1 Bath2BR,1BA$1.31
Sofia ApartmentsThe Calla (2x2)2BR,2BA$1.46
Gateway at Tempe2x2 L2BR,2BA$1.23

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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 $860 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 $1,475.

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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