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Apartments for Rent in Phoenix, AZ under $500

Apartments for Rent in Phoenix, AZ under $500. 15 Rentals Available
15 Rentals Available
Quick filters
  • Rent specials 5 units available
    1 bd $491+
    Total monthly cost
    Verified Listing

    2929 N 36Th St, Phoenix, AZ 85018
    Apply online • Pet friendly • Parking
  • Only 1 unit left
    Studio $100
    Base rent
    Verified Listing

    915 N 16Th St, Phoenix, AZ 85006
    Apply online
  • Only 3 units left
    Studio $496+
    Base rent Income restricted
    Verified Listing

    5102 N 11Th. Ave, Phoenix, AZ 85013
    Apply online • Pet friendly • Parking
  • Only 3 units left
    1 bd $476+
    Base rent Income restricted
    Verified Listing

    16819 N 42Nd Ave, Phoenix, AZ 85053
    Apply online • Pet friendly • Pool
  • 12830 N Paradise Village Pkwy West 1-2 Beds Apartment for Rent
    1 bd $340
    Base rent Income restricted
    Verified Listing

    4.0 (1)
    12830 N Paradise Village Pkwy West, Phoenix, AZ 85032
    Apply online • Pet friendly
  • Only 1 unit left
    Ask for Pricing
    Income restricted
    Verified Listing

    4.0 (15)
    9601 N. 17Th Avenue, Phoenix, AZ 85021
    Apply online • Pet friendly • Parking

  • 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
6-1-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 2 Aug 2026.

What are the best apartments in Phoenix, AZ?
What type of rental buildings are in Phoenix, AZ?

In Phoenix, 43% of the residents are renting compared to 57% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 25% of Phoenix's rentals, 45% are small-scale complexes with under 50 units, and 28% are single-family rentals.

Search for apartments in Phoenix, AZ under $500

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.

The perfect $500 rental near you

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 7 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.