Cheap Homes for Rent in Downtown Tempe Neighborhood of Tempe, AZ from $600 (29 Rentals)

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

property at 616 S Hardy Dr

616 S Hardy Dr

TempeAZ85281
property at 931 S Casitas Dr

931 S Casitas Dr

TempeAZ85281
property at 2035 S Elm St

2035 S Elm St

TempeAZ85282
Showing Results 1-29, Page 1 of 1

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. Riverside Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $902. Here are the most affordable Downtown Tempe apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
University Pointe ApartmentsStudioStudio,1BA$898
Riverside ApartmentsStudioStudio,1BA$902
Grandes CortesStudioStudio,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
Beautiful Renovations One and Two Bedrooms1x1 not renovated1BR,1BA$995
MadEry ApartmentsBartlett1BR,1BA$999
Studio 710 ApartmentsSmall Studio DeluxeStudio,1BA$1,000
Butterfield ParkOne Bedroom One Bathroom1BR,1BA$1,000
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$1,012

Best Value Apartments for Rent in Downtown Tempe, AZ

As of April 03, 2025 the best value apartment in the Downtown Tempe area is the $0.59 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $1,099. The second greatest value Downtown Tempe apartment is the Saguaro Model at Agave starting at $1,878 with a $1.57 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$0.59
AgaveSaguaro3BR,2BA$1.57
Nine20 TempeB12BR,2BA$1.39
La Paloma ApartmentsTwo Bedroom2BR,2BA$1.58
The Heights on Lemon2 Bedrooms, 1 Bath2BR,1BA$1.59
Emerson Park2 Bed 1 Bath2BR,1BA$1.59
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36
Beautiful Renovations One and Two Bedrooms2x1 -252BR,1BA$1.58
Murietta at ASUOne Bed One Bath - A11BR,1BA$1.60
Butterfield ParkOne Bedroom One Bathroom1BR,1BA$1.41

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Frequently Asked Questions about Downtown Tempe

What type of rentals are currently available in Downtown Tempe?

There are currently 416 Apartments for Rent in Downtown Tempe, AZ with pricing that ranges from $650 to $14,000. There are also 140 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Tempe ranging from $699 to $10,000.

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 $699 to $10,000 with an average monthly rent of $2,696.

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 $7,498, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $10,000. 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.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

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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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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

Written by: Andrea Lee Negroni, JD

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.