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Apartments for Rent in Phoenix, AZ under $500

14 Rentals Available
Apartments for Rent in Phoenix, AZ under $500. 14 Rentals Available
  • the front of a gas station with cars parked in front of it
    Today

    915 N 16Th St, Phoenix, AZ 85006
    STUDIO $100
  • a small building with a vinig pharmacy sign on the side of a street
    Today

    613 E Indian School, Phoenix, AZ 85012
    STUDIO $215
  • a view into the kitchen from the lobby of a building with a black marble counter
    Today

    209 W. Jackson, Phoenix, AZ 85003
    Income Restricted
    STUDIO $458+
  • a kitchen with white appliances and wooden cabinets
    Today

    1110 N. 16Th Street, Phoenix, AZ 85006
    Income Restricted
    STUDIO $468+
    1 BED $497+
  • an apartment building with a swimming pool and stairs
    Today

    1650 West Sahuaro Drive, Phoenix, AZ 85029
    Income Restricted
    2 BEDS Ask for Pricing
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  • a childrens playground with a yellow slide
    Today

    9601 N. 17Th Avenue, Phoenix, AZ 85021
    Income Restricted
    2 BEDS Ask for Pricing

  • More Rentals Near Phoenix, AZ

  • a large swimming pool in front of a building
    Today

    13613 N. Main Street, El Mirage, AZ 85335
    Income Restricted
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • a kitchen with a counter and a refrigerator
    Today

    5424 E. Calle Cerritos, Guadalupe, AZ 85283
    1 BED Ask for Pricing
  • a living room and dining room with leather furniture
    Today

    910 S Dysart Rd, Avondale, AZ 85323
    1 BED Ask for Pricing
  • a sign for mesa artspace loft on the side of a building
    Today

    155 South Hibbert, Mesa, AZ 85210
    Income Restricted
    1 BED Ask for Pricing
6-4-city
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Local Guides for Renters

Getting around in Phoenix, AZ

68 /100
Somewhat Walkable
46 /100
Some Transit
73 /100
Very Bikeable
Walk Score®: 68, Transit Score®: 46, Bike Score®: 73

Frequently asked questions

When were prices and availability in Phoenix, AZ last updated?

Prices and availability in Phoenix, AZ were last updated on 22 Feb 2026.

What are the best apartments in Phoenix, AZ?

The best apartments in Phoenix, AZ are: Willow 38, The Catherine Townhomes at Scottsdale, Aura at Midtown, The Coronado and Canberra Apartments.

What type of rental buildings are in Phoenix, AZ?

In Phoenix 43% of the housing is rented out compared to 57% of homes are owned, according to the most recent Census Bureau estimates. 23% of Phoenix's apartments are found in large buildings of 50 units or more, 46% are located in smaller apartment complexes with less than 50 units, and 28% are single-family rentals.

Renting apartments in Phoenix, AZ under $500

Searching for apartments for rent in Phoenix, AZ under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In Phoenix, AZ, where the average rent is $579 per month, there are 14 units available for less than $500. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.

We’ll help you find the cheapest rental near you

Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Phoenix, AZ. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Phoenix, AZ going for $215 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!