Cheapest Neighborhoods in Tempe, AZ
Some of the cheapest neighborhoods in Tempe are Guadalupe, Alameda, and South Tempe. These neighborhoods offer some of the lowest rent prices in Tempe, making them ideal for renters on a budget. As of September 11, 2026, the average rent in Tempe is $1,495, which is 0.9% 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
$1,290/Month
Year-Over-Year Rent Change
4.6%
Units Available
122 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, Guadalupe might be the perfect place! It has an average rent price of $1,290, while the city’s average stands at $1,495. In the last year, prices have decreased by 4.6%. Guadalupe is near ASU Center for Meteorite Studies, Arizona State University, and Paseo Del Saber/Apache.
Alameda
Average Rent
$1,404/Month
Year-Over-Year Rent Change
1.7%
Units Available
465 Rentals
Alameda is a top choice for budget-conscious renters for a variety of reasons. The average rent in Alameda is $1,404 while the city average is $1,495. This is a -1.7% difference from last year. Residents enjoy convenient access to Valley Plaza, i.d.e.a. Museum, and Phoenix Zoo.
South Tempe
Average Rent
$1,460/Month
Year-Over-Year Rent Change
1.7%
Units Available
168 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out South Tempe. The average rent is $1,460, compared to the city average of $1,495. Rent prices have decreased by 1.7%. South Tempe is convenient to Dorsey Ln/Apache Blvd, Rural/Apache, and Phoenix Sky Harbor International.
The Lakes
Average Rent
$1,484/Month
Year-Over-Year Rent Change
1.8%
Units Available
129 Rentals
The Lakes is an affordable neighborhood in Tempe with an average rent price of $1,484. Compare this to the city average of $1,495. In the past year, rent prices have increased by 1.8%. The Lakes provides easy access to Desert Arboretum Park, Alverno College, and i.d.e.a. Museum.
West Tempe
Average Rent
$1,494/Month
Year-Over-Year Rent Change
1.8%
Units Available
216 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, West Tempe might be the perfect place! It has an average rent price of $1,494, while the city’s average stands at $1,495. In the last year, prices have increased by 1.8%. West Tempe is near Phoenix Zoo, South Mountain Comm. Coll., and Phoenix-Mesa Gateway.
Apache
Average Rent
$1,503/Month
Year-Over-Year Rent Change
0.9%
Units Available
337 Rentals
Apache is a top choice for budget-conscious renters for a variety of reasons. The average rent in Apache is $1,503 while the city average is $1,495. This is a -0.9% difference from last year. Residents enjoy convenient access to Alverno College, Retail Village at The Culdesac, and Price-101 Fwy/Apache Blvd.
Downtown Tempe
Average Rent
$1,764/Month
Year-Over-Year Rent Change
2.3%
Units Available
695 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out Downtown Tempe. The average rent is $1,764, compared to the city average of $1,495. Rent prices have decreased by 2.3%. Downtown Tempe is convenient to Ninth St/Mill, Centerpoint on Mill, and Mesa C.C., Southern and Dobson.
North Tempe
Average Rent
$1,832/Month
Year-Over-Year Rent Change
0.4%
Units Available
378 Rentals
North Tempe is an affordable neighborhood in Tempe with an average rent price of $1,832. Compare this to the city average of $1,495. In the past year, rent prices have decreased by 0.4%. North Tempe provides easy access to Marina Heights/Rio Salado, Union Plaza, 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.