Cheap Apartments for Rent in Tempe, AZ
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLYFURNISHEDTotal price$625 - $1,350/mo
1-4 Beds
1-4 BathsGateway at Tempe - Lease by the bed | 1655 E University Dr,
Tempe, AZ 85281
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Average Rent Trends in Tempe, AZ
Rent in Tempe, AZ varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in Oct 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $1,995 |
| Dec 2025 | $2,000 |
| Jan 2026 | $1,953 |
| Feb 2026 | $2,195 |
| Mar 2026 | $2,299 |
| Apr 2026 | $2,300 |
| May 2026 | $2,300 |
| Jun 2026 | $2,250 |
| Jul 2026 | $2,295 |
| Aug 2026 | $2,199 |
| Sep 2026 | $2,100 |
| Oct 2026 | $1,951 |
Average Rent By Bedroom and Home Type
In October 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,295 | $1,579 | $2,310 | $2,790 | $1,995 |
| Townhomes | $1,345 | $1,945 | $2,300 | $2,500 | $2,100 |
| Apartments and Condos | $1,125 | $1,506 | $2,150 | $2,000 | $1,499 |
| Houses | $800 | $1,700 | $2,490 | $2,895 | $2,650 |
Frequently Asked Questions about Rentals in Tempe, AZ
- What is the average rent of an apartment in Tempe, AZ?The average rent of an apartment in Tempe, AZ is $1,489 per month. This is about 23% lower than the national average.
- What are the cheapest months to find an apartment to rent in Tempe, AZ?Last year, the cheapest month to find an apartment to rent was Jan 2025 when it was $1,995 per month.
- How many cheap apartments are available in Tempe, AZ?There are 493 apartments to rent that are cheaper than the city’s average rent of $1,995.
- When is the average rent most expensive in Tempe, AZ?In the last year, the average rent in Tempe, AZ was highest in Apr 2025 when it was $2,300 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in Tempe, AZ?The average rent of a 1 bedroom apartment in Tempe, AZ is $1,295 per month. That is about $21 less than the cost of a studio apartment.
- What colleges and universities are in Tempe, AZ?Colleges and universities in Tempe, AZ include: Arizona State University.
- What are some neighborhoods in Tempe, AZ?Some neighborhoods in Tempe, AZ include: Escalante, Alegre Community, Sunset, Pepperwood, Meyer Park.
- What are some zip codes in Tempe, AZ?
- What are some cities near Tempe, AZ?Some nearby cities include: Guadalupe, Chandler, Paradise Valley, Gilbert, Mesa. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Tempe, AZ - 2,863 Rentas | Trulia