Looking for a cheap apartment for rent in Amarillo, TX? With RENTCafé, finding an affordable apartment in Amarillo, TX has never been easier. We feature 9 low-priced rentals directly from property managers, with rents lower than the Amarillo, TX average. What is a cheap rent in Amarillo, TX? The average apartment rent in Amarillo is $691 per month so any rental south of $553 would be considered cheap here. Size matters though, so if you are in a market for a studio, expect to pay around $378 per month. If you’re looking to upgrade to a 1-bedroom apartment you’ll pay around $428, while a cheap 2-bedroom apartment will cost you about $527 per month.