Cheap Homes for Rent in Tempe, AZ from $600 (130 Rentals)

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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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 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044

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 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
Showing Results 1-50, Page 1 of 3

Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 04/25/2025

Current apartment rentals in the Tempe, AZ area range in price from $605 to $10,500 with an overall median price of $5,153. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $1,338, Apache at $1,175, and Tally Ho Farms Raintree at $1,600. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Guadalupe$2,674$1,3387
Apache$3,300$1,17534
Tally Ho Farms Raintree$4,299$1,6008
West Chandler$4,300$75053
South Tempe$5,500$75071
Alameda$7,999$605143
The Lakes$7,999$75069

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at The Molino Apartments in the South Phoenix neighborhood priced from $799. Valencia Park in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $810. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Molino ApartmentsStudio 325sqftStudio,1BA$799
Valencia ParkSonomaStudio,1BA$810
TerrasolA11BR,1BA$859
Tides on UniversityA1Studio,1BA$860
Riverside ApartmentsStudioStudio,1BA$892
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896
The Mod at MillsS1Studio,1BA$898
University Pointe ApartmentsStudioStudio,1BA$898
MargoStudioStudio,1BA$899
Vue Nineteen 01One Bedroom - UTILITIES INCLUDED1BR,1BA$910

Best Value Apartments for Rent in Tempe, AZ

As of April 25, 2025 the best value apartment in the 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 Tempe apartment is the 1211 N. Miller Road Model at 1211 N. Miller Road, Unit 260 starting at $1,650 with a $1.38 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$0.53
1211 N. Miller Road, Unit 2601211 N. Miller Road2BR,2BA$1.38
Avenue 8B12BR,2BA$1.08
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.39
Rockledge FairwaysAugusta2BR,2BA$1.38
Monterey Apartments2x22BR,2BA$1.39
Nine20 TempeB12BR,2BA$1.39
Station 21 Apartment HomesB12BR,2BA$1.38
Gateway at Tempe2x2 L Renovated2BR,2BA$1.36
TerrasolA11BR,1BA$1.39

Quick Rent Budget Calculator

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Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1157 Apartments for Rent in Tempe, AZ with pricing that ranges from $650 to $14,000. There are also 681 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $605 to $16,000.

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 $605 to $16,000 with an average monthly rent of $3,367.

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 $9,684, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $16,000. 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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.