Cheap Homes for Rent in Tempe, AZ from $600 (118 Rentals)

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Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

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property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008
property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 1826 N 51st St

1826 N 51st St

PhoenixAZ85008
Showing Results 1-50, Page 1 of 3

Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 04/03/2025

Current apartment rentals in the Tempe, AZ area range in price from $650 to $14,000 with an overall median price of $2,220. The three Tempe neighborhoods with the lowest median rent pricing are Tally Ho Farms Raintree at $1,215, Guadalupe at $898, and Alameda at $650. 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$2,064$1,215176
Guadalupe$2,079$898152
Alameda$2,108$6501305
West Chandler$2,121$1,189295
The Lakes$2,168$917178
Apache$2,404$650698
South Tempe$2,597$898386

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. The Link Apartments in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $825. 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
The Link ApartmentsStudioStudio,1BA$825
Tides on UniversityA1Studio,1BA$860
Valencia ParkSonomaStudio,1BA$865
The Mod at MillsS1Studio,1BA$898
University Pointe ApartmentsStudioStudio,1BA$898
The Molino ApartmentsStudio 315sqftStudio,1BA$899
Riverside ApartmentsStudioStudio,1BA$902
Sentry TempeKonaStudio,1BA$929

Best Value Apartments for Rent in Tempe, AZ

As of April 03, 2025 the best value apartment in the Tempe area is the $1.19 price per square foot 1726 W Jeanine Dr Model at 1726 W Jeanine Dr in the in the South Phoenix neighborhood starting from $3,688. The second greatest value Tempe apartment is the 4768 W Tyson St Model at 4768 W Tyson St starting at $3,300 with a $1.30 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.
1726 W Jeanine Dr1726 W Jeanine Dr4BR,3BA$1.19
4768 W Tyson St4768 W Tyson St4BR,2BA$1.30
1032 E Brentrup Dr1032 E Brentrup Dr4BR,2.5BA$1.21
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.59
5633 W Butler Dr5633 W Butler Dr3BR,2BA$1.31
4112 E St Anne Ave4112 E St Anne Ave3BR,2BA$1.16
Avenue 8B12BR,2BA$1.12
New Horizons2 Bed 2 Bath2BR,2BA$1.36
Villatree ApartmentsTwo Bedroom One Bath2BR,1BA$1.23
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36

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Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1165 Apartments for Rent in Tempe, AZ with pricing that ranges from $650 to $14,000. There are also 568 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $699 to $17,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tempe ranges from $699 to $17,500 with an average monthly rent of $3,369.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tempe range from $840 to $9,069, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $17,500. 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).

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.