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Prices and availability in Phoenix, AZ were last updated on 24 Oct 2026.
The best apartments in Phoenix, AZ are: Refinery at Pointe17, Element Deer Valley, Boulders at Lookout Mountain Apartment Homes, Solara and Colter Park Apartments.
In Phoenix 43% of the housing is rented out compared to 57% of homes are owned, according to the most recent Census Bureau estimates. 25% of Phoenix's apartments are found in large buildings of 50 units or more, 45% are located in smaller apartment complexes with less than 50 units, and 28% are single-family rentals.
There’s more than one way to spend $500 on rent in Phoenix, AZ, so the first step is to start thinking about what you really want from your new home. Be mindful of what makes you tick. Look for 2 bedroom apartments for rent for less than $500 if you want to share your living space and don’t mind being further away from the city center. Search for 3 bedroom apartments if you’re moving in with family or planning to share part of your life and living expenses with more friends. If city bustle is what you live for, you might want to search for a studio or 1 bedroom apartment closer to the city center.
Don’t dismiss the idea of a studio just because it sounds small and featureless: studios come in many shapes and sizes, and it only takes a few strikes of creativity to go from drab to lively. If an all-in-one-room apartment spells total lack of privacy for you, have a look at the 1 bedroom apartments for rent in Phoenix, AZ. Customize your search by using more RentCafe filters. Decide what amenities you can’t live without and focus your search on the apartments that offer them. Are you bringing in a pet? Narrow your options to pet-friendly apartments for rent. Want more windows so that natural light floods your home? Hardwood floors or plush carpet in the living area? There are 5 apartments for rent below $500 in Phoenix, AZ for every taste. Decide what you need, stay focused, and you’re bound to find your perfect apartment in no time.
