Cheapest Neighborhoods in Tempe, AZ
Some of the cheapest neighborhoods in Tempe are Guadalupe, South Tempe, and Alameda. These neighborhoods offer some of the lowest rent prices in Tempe, making them ideal for renters on a budget. As of June 13, 2026, the average rent in Tempe is $1,484, which is 2.2% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Guadalupe
Average Rent
$1,283/Month
Year-Over-Year Rent Change
1.6%
Units Available
99 Rentals
Guadalupe is a top choice for budget-conscious renters for a variety of reasons. The average rent in Guadalupe is $1,283 while the city average is $1,484. This is a 1.6% difference from last year. Residents enjoy convenient access to Eleventh St/Mill, Desert Arboretum Park, and Paseo Del Saber/Apache.
South Tempe
Average Rent
$1,480/Month
Year-Over-Year Rent Change
1.9%
Units Available
177 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out South Tempe. The average rent is $1,480, compared to the city average of $1,484. Rent prices have decreased by 1.9%. South Tempe is convenient to Pecos Park, Alverno College, and Dorsey Ln/Apache Blvd.
Alameda
Average Rent
$1,483/Month
Year-Over-Year Rent Change
4.6%
Units Available
511 Rentals
Alameda is an affordable neighborhood in Tempe with an average rent price of $1,483. Compare this to the city average of $1,484. In the past year, rent prices have decreased by 4.6%. Alameda provides easy access to Walgreens Plaza, Papago Park, and Paseo Del Saber/Apache.
The Lakes
Average Rent
$1,576/Month
Year-Over-Year Rent Change
3.3%
Units Available
140 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, The Lakes might be the perfect place! It has an average rent price of $1,576, while the city’s average stands at $1,484. In the last year, prices have decreased by 3.3%. The Lakes is near Desert Arboretum Park, The Collective On Baseline, and Mcclintock Dr/Apache Blvd.
Apache
Average Rent
$1,646/Month
Year-Over-Year Rent Change
2.2%
Units Available
303 Rentals
Apache is a top choice for budget-conscious renters for a variety of reasons. The average rent in Apache is $1,646 while the city average is $1,484. This is a -2.2% difference from last year. Residents enjoy convenient access to ASU Center for Meteorite Studies, Arizona Museum of Natural History, and Desert Arboretum Park.
Downtown Tempe
Average Rent
$1,687/Month
Year-Over-Year Rent Change
2.2%
Units Available
844 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out Downtown Tempe. The average rent is $1,687, compared to the city average of $1,484. Rent prices have decreased by 2.2%. Downtown Tempe is convenient to Phoenix Sky Harbor International, Ninth St/Mill, and Gateway Community College.
West Tempe
Average Rent
$1,805/Month
Year-Over-Year Rent Change
2%
Units Available
240 Rentals
West Tempe is an affordable neighborhood in Tempe with an average rent price of $1,805. Compare this to the city average of $1,484. In the past year, rent prices have decreased by 2%. West Tempe provides easy access to South Mountain Park, ASU Center for Meteorite Studies, and Eleventh St/Mill.
North Tempe
Average Rent
$1,826/Month
Year-Over-Year Rent Change
0.9%
Units Available
350 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, North Tempe might be the perfect place! It has an average rent price of $1,826, while the city’s average stands at $1,484. In the last year, prices have decreased by 0.9%. North Tempe is near Center Pkwy/Washington, Desert Arboretum Park, and Desert Botanical Garden.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.