Cheap Apartments for Rent in the Downtown Tempe Neighborhood of Tempe, AZ from $600 (132 Rentals)

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

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property at 615 S Hardy Dr

615 S Hardy Dr

TempeAZ85281
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Downtown Tempe, Tempe, AZ Local Guide

Cheapest Available Downtown Tempe Apartments for Rent

 

The cheapest available apartment rental in the Downtown Tempe area of Phoenix, AZ is a Studio unit found at University Pointe Apartments priced from $898. Margo has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
University Pointe ApartmentsStudioStudio,1BA$898
MargoStudioStudio,1BA$899
Axio Apartments1x11BR,1BA$900
Grandes CortesStudioStudio,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
Riverside ApartmentsStudioStudio,1BA$978
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$985
Eastridge ApartmentsStudioStudio,1BA$992
PolancoStudioStudio,1BA$999
MadEry ApartmentsBartlett1BR,1BA$999

Best Value Apartments for Rent in Downtown Tempe, AZ

As of May 16, 2025 the best value apartment in the Downtown 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 Downtown Tempe apartment is the 2A Model at San Portella starting at $1,574 with a $1.42 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Downtown 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
San Portella2A2BR,2BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.31
Nine20 TempeB12BR,2BA$1.39
La Paloma ApartmentsTwo Bedroom2BR,2BA$1.58
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.47
Solaire on ScottsdaleManhattan2BR,1BA$1.59
Emerson Park2 Bed 1 Bath2BR,1BA$1.55
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$1.52

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Tempe, Tempe, AZ

Ranked #3

Among neighborhoods in Tempe, AZ for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Tempe, Tempe, AZ

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Tempe. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for the best outdoor access, luxury amenities, features that make it easier to raise kids, raising pets, transit options, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Downtown Tempe Neighborhood in Tempe, AZ

Walk Score®

76 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

95 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

63 / 100

Good Transit

Many 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 Downtown Tempe Apartments

What is a cheap apartment in Downtown Tempe?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Tempe is under $999.

What is the price of a cheap apartment in Downtown Tempe?

The cheapest apartment in Downtown Tempe is Axio Apartments which is listed at $900, while the average apartment in Downtown Tempe costs $2,189.

What types of apartments are the cheapest in Downtown 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 267 regular apartments in Downtown 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 Downtown Tempe?

Cheap apartments in Downtown Tempe have an average cost of $632 which is $1,557 cheaper than the average rent for all rentals in Downtown 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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