Looking for a cheap apartment for rent in Tempe, AZ? With RENTCafé, finding an affordable apartment in Tempe, AZ has never been easier. We feature 129 low-priced rentals directly from property managers, with rents lower than the Tempe, AZ average. What is a cheap rent in Tempe, AZ? The average apartment rent in Tempe is $1,257 per month so any rental south of $1,006 would be considered cheap here. Size matters though, so if you are in a market for a studio, expect to pay around $655 per month. If you’re looking to upgrade to a 1-bedroom apartment you’ll pay around $720, while a cheap 2-bedroom apartment will cost you about $865 per month. On RENTCafé, Tempe, AZ rents go as low as $600/mo. If you’re looking to rent in the cheapest Tempe neighborhood, check out the rentals in Tempe Gardens, where the average rent is $1,072/month.