Cheap Homes for Rent in Downtown Tempe Neighborhood of Tempe, AZ from $700 (39 Rentals)

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

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property at 616 S Hardy Dr

616 S Hardy Dr

TempeAZ85281

Phoenix's Best Affordable Neighborhoods

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property at 1065 W 1st St

1065 W 1st St

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
Grandes CortesStudioStudio,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
Riverside ApartmentsStudioStudio,1BA$978
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$985
Emerson ParkStudioStudio,1BA$995
MadEry ApartmentsBartlett1BR,1BA$999
PolancoStudioStudio,1BA$999
Eastridge Apartments1x1 6501BR,1BA$1,000

Best Value Apartments for Rent in Downtown Tempe, AZ

As of May 10, 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 3A Model at San Portella starting at $1,999 with a $1.52 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 Portella3A3BR,2BA$1.52
AgaveSaguaro3BR,2BA$1.54
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$1.53
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36
Cape Cod ApartmentsOne Bedroom1BR,1BA$1.60
The Willowbrook Apartments1 Beds, 1 Baths1BR,1BA$1.52

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Frequently Asked Questions about Downtown Tempe

What type of rentals are currently available in Downtown Tempe?

There are currently 409 Apartments for Rent in Downtown Tempe, AZ with pricing that ranges from $650 to $14,000. There are also 209 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Tempe ranging from $750 to $6,000.

What is the current price range for Rental Homes in Downtown Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Tempe ranges from $750 to $6,000 with an average monthly rent of $2,506.

How much are larger Three and Four Bedroom Rentals in Downtown Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Tempe range from $840 to $9,639, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $6,000. Four Bedroom Single-Family rentals are also available starting from $2,000 and Four Bedroom Apartments start at $650.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.