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Cheap Apartments for Rent in San Luis Obispo, CA

326 Rentals
.
  21. Building Photo - Harvest Lofts
    STUDIO
    $2,050+
    1 BED
    $2,455+

    Harvest Lofts

    845 Madonna Rd, San Luis Obispo, CA 93405
  25. Building Photo - Connect SLO
    STUDIO
    $2,195+
    1 BED
    $2,595+

    Connect SLO

    3110 Duncan Rd, San Luis Obispo, CA 93401
  27. Building Photo - 421 Dana St
    Call for Rent

    421 Dana St

    421 Dana St, San Luis Obispo, CA 93401
  30. Building Photo - The Junction
    STUDIO
    $2,300+
    1 BED
    $2,700+
    2 BEDS
    $2,900+

    The Junction

    2120 Santa Barbara Ave, San Luis Obispo, CA 93401
Showing 42 of 176 results, Page 1 of 5

San Luis Obispo at a Glance

Average Rent

$1,888
(All bedrooms and property types)
Learn more about
Average Rent in San Luis Obispo
8

School Rating

out of 10 Rating
Learn more about
Schools in San Luis Obispo
27

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in San Luis Obispo
77

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in San Luis Obispo

San Luis Obispo, CA Cheap Apartments for Rent

When looking for cheap apartments in San Luis Obispo, Apartment Finder is your deal-hunting partner. Whether you’re looking for a studio, a one-bedroom, or a two-bedroom apartment, you want the best place at the right price. We have a great selection of budget-friendly apartments for rent, and we’ll show you which apartments offer the best value when compared to other apartments in San Luis Obispo.

Finding a rental that fits your budget without compromising on quality can seem like a challenge, but Apartment Finder makes it easy to discover cheap apartments with all the features you want. To find an apartment you can afford, try looking in less popular neighborhoods outside of the city center. Timing is everything when searching for rentals that are affordable, so look at different times of the day, different days of the week and (if you can wait) certain months like December through March. When you find an apartment with a great price, don’t hesitate! Cheap apartments tend to go very quickly.

Affordability doens't have to equal sacrifice. While it’s important to be flexible, you might not have to give up as much as you think. You can find a cheap apartment for rent, complete with must-have amenities such as paid utilities and an in-unit washer and dryer. Click on any of these properties to see photos and floor plans, read reviews, check out the rent calculator, and learn more about the neighborhood with information on nearby parks, shopping malls, and transit stops. With 176 cheap apartments available in San Luis Obispo Apartment Finder is the place to find your next rental.

Renting in San Luis Obispo

Average Rental Rates and Apartment Sizes

Getting Around San Luis Obispo

Transportation

67

Somewhat Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
77

Very Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
27

Some Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

GreatSchools Rating
San Luis Obispo High

Public High School

Public
Grades 9-12
1,644 Students
GreatSchools Rating
Laguna Middle

Public Middle School

Public
Grades 7-8
789 Students
GreatSchools Rating
Teach Elementary

Public Elementary School

Public
Grades 4-6
167 Students
GreatSchools Rating
Pacheco Elementary

Public Elementary School

Public
Grades K-6
482 Students
GreatSchools Rating
Smith (C. L.) Elementary School

Public Elementary School

Public
Grades K-6
465 Students
GreatSchools Rating
Sinsheimer Elementary

Public Elementary School

Public
Grades K-6
371 Students
GreatSchools Rating
Los Ranchos Elementary

Public Elementary School

Public
Grades K-6
450 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

Apartments for Rent Near San Luis Obispo

Specialty Housing

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San Luis Obispo Apartments for Rent in Your Budget

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