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Cheap Apartments for Rent in San Luis Obispo, CA

199 Rentals
.
  3. Building Photo - Valencia Apartments
    Exceptional Value
    3 BEDS
    $1,295+
    4 BEDS
    $1,000+

    Valencia Apartments

    555 Ramona Dr, San Luis Obispo, CA 93405
  5. Building Photo - Mustang I Townhome
    Exceptional Value
    STUDIO
    $2,070+
    2 BEDS
    $1,150+
    3 BEDS
    $1,350+
    4 BEDS
    $1,490+

    Mustang I Townhome

    1 Mustang Dr, San Luis Obispo, CA 93405
  7. Building Photo - 680 Chorro St
    2 BEDS, 1 BATH
    $1,250

    680 Chorro St

    680 Chorro St, San Luis Obispo, CA 93401
  9. Building Photo - 1549 Mill St
    1 BED, 1 BATH
    $1,600
    Total Monthly Price Total Monthly Price New
    Base Rent$1,600
    Required Monthly FeesNone
    Total Monthly Price$1,600

    1549 Mill St

    1549 Mill St, San Luis Obispo, CA 93401
    Apply
  10. Building Photo - Montalban
    2 BEDS
    $1,650

    Montalban

    1121 Montalban St, San Luis Obispo, CA 93405
  11. 4 BEDS
    $1,653
    Total Monthly Price Total Monthly Price New
    Base Rent$1,653 - $1,718
    Required Monthly FeesNone
    Total Monthly Price$1,653 - $1,718

    Chorro at SLO

    22 Chorro St, San Luis Obispo, CA 93405
  12. Building Photo - Palomar at SLO
    4 BEDS
    $1,695+
    5 BEDS
    $1,670+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,670 - $1,695
    Required Monthly FeesNone
    Total Monthly Price$1,670 - $1,695

    Palomar at SLO

    71 Palomar Ave, San Luis Obispo, CA 93405
    (805) 316-7081
  20. Building Photo - Connect SLO
    STUDIO
    $2,295

    Connect SLO

    3110 Duncan Rd, San Luis Obispo, CA 93401
  21. Building Photo - 742 Boysen Ave
    Rent Special
    Rent Special
    2 BEDS
    $2,300

    742 Boysen Ave

    742 Boysen Ave, San Luis Obispo, CA 93405
  22. Building Photo - 1322 Noveno Ave
    1 BED, 1 BATH
    $2,350
    Total Monthly Price Total Monthly Price New
    Base Rent$2,350
    Required Monthly FeesNone
    Total Monthly Price$2,350

    1322 Noveno Ave Unit A

    1322 Noveno Ave, San Luis Obispo, CA 93401
    Apply
  24. Building Photo - 421 Dana St
    Call for Rent

    421 Dana St

    421 Dana St, San Luis Obispo, CA 93401
  26. Building Photo - 1534 Monterey St
    1 BED, 1 BATH
    $2,500
    Total Monthly Price Total Monthly Price New
    Base Rent$2,500
    Required Monthly FeesNone
    Total Monthly Price$2,500

    1534 Monterey St

    1534 Monterey St, San Luis Obispo, CA 93401
    Apply
Showing 42 of 117 results, Page 1 of 3

San Luis Obispo at a Glance

Average Rent

$1,953
(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

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 117 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

Top Budget-Friendly Neighborhoods in San Luis Obispo

(For 1 bedroom apartments)

Education

GreatSchools Rating
San Luis Obispo High

Public High School

Public
Grades 9-12
1,678 Students
GreatSchools Rating
San Luis Obispo High School

Public High School

Public
Grades 9-12
1,678 Students
GreatSchools Rating
Pacific Beach High School

Public High School

Public
Grades 9-12
62 Students
GreatSchools Rating
Laguna Middle School

Public Middle School

Public
Grades 6-8
780 Students
GreatSchools Rating
Bellevue-Santa Fe Charter School

Public Elementary School

Public
Grades K-5
163 Students
GreatSchools Rating
Bishop's Peak Elementary School

Public Elementary School

Public
Grades K-5
358 Students
GreatSchools Rating
Teach Elementary School

Public Elementary School

Public
Grades K-5
193 Students
GreatSchools Rating
Sinsheimer Elementary School

Public Elementary School

Public
Grades K-5
401 Students
GreatSchools Rating
Smith (C. L.) Elementary School

Public Elementary School

Public
Grades K-5
528 Students

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

Apartments for Rent Near San Luis Obispo

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San Luis Obispo Apartments for Rent in Your Budget

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