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Apartments for Rent in Phoenix, AZ under $500

Apartments for Rent in Phoenix, AZ under $500. 35 Rentals Available
35 Rentals Available
Quick filters
  • Only 1 unit left
    Studio $100
    Base rent
    Verified Listing

    915 N 16Th St, Phoenix, AZ 85006
    Apply online
  • 26 units available
    Studio $458+
    Base rent Income restricted
    Verified Listing

    4.0 (13)
    209 W. Jackson, Phoenix, AZ 85003
    Apply online • Pet friendly • Parking
  • 5 units available
    1 bd $491
    Base rent
    Verified Listing

    2929 N 36Th St, Phoenix, AZ 85018
    Pet friendly • Parking
  • Ask for Pricing
    Income restricted
    Verified Listing

    4.0 (15)
    9601 N. 17Th Avenue, Phoenix, AZ 85021
    Pet friendly • Parking • In unit laundry
  • Ask for pricing
    Income restricted
    Verified Listing

    4.0 (1)
    12830 N Paradise Village Pkwy West, Phoenix, AZ 85032
    Pet friendly

  • More Rentals Near Phoenix, AZ

  • Studio $420
    Base rent
    Verified Listing

    10245 N. 87Th Ave., Phoenix, AZ 85345
    Pet friendly • In unit laundry • Large Closets
5-1-city
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Frequently asked questions

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

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

What are the best apartments in Phoenix, AZ?
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. 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.

Your search for apartments in Phoenix, AZ under $500 stops here

Finding apartments for rent in Phoenix, AZ for less than $500 has never been so easy! At RentCafe nice cheap apartments are just one click away. There are currently 35 available units in Phoenix, AZ, renting for under $500. On average, $508 can get you 898 Sqft in this area. Be sure to search for the apartment that is best for you. Under “More”, check the amenities that you consider a must-have, and don’t forget to look at the pet policy. Fitness enthusiasts can even check the Fitness Center box. Whether you are looking for studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, you are sure to find one that will make you want to move in right away.

We’ll help you find the best rental near you

Having to compromise on either price or location can turn your “apartments near me under $500” search into a nightmare. At RentCafe we recognize the importance of both. Therefore, we offer a variety of filters that can help you find exactly what you want. Sorting the results by rent, ascending, will make the cheapest units show up first on the list. Try it out! You will find that right now the cheapest apartment under $500 in Phoenix, AZ goes for $420 per month. If some of the results are outside the area of your choice, you can go to the left side of the screen and draw a radius or a polygon around your location. Now you will only see results that are relevant to you.