Best Affordable 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 April 28, 2026, the average rent in Tempe is $1,481, which is 1.6% 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
$1,338/Month
Year-Over-Year Rent Change
2%
Units Available
79 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out Guadalupe. The average rent is $1,338, compared to the city average of $1,481. Rent prices have increased by 2%. Guadalupe is convenient to Pepperwood Pointe, Arizona Mills, and Rural/Apache.
Alameda
Average Rent
$1,441/Month
Year-Over-Year Rent Change
3.9%
Units Available
457 Rentals
Alameda is an affordable neighborhood in Tempe with an average rent price of $1,441. Compare this to the city average of $1,481. In the past year, rent prices have decreased by 3.9%. Alameda provides easy access to ASU Center for Meteorite Studies, Valley Plaza, and Mesa C.C., Southern and Dobson.
South Tempe
Average Rent
$1,487/Month
Year-Over-Year Rent Change
2.3%
Units Available
160 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, South Tempe might be the perfect place! It has an average rent price of $1,487, while the city’s average stands at $1,481. In the last year, prices have decreased by 2.3%. South Tempe is near Pecos Park, Crossroads of Tempe, and Paseo Del Saber/Apache.
West Tempe
Average Rent
$1,511/Month
Year-Over-Year Rent Change
6.3%
Units Available
254 Rentals
West Tempe is a top choice for budget-conscious renters for a variety of reasons. The average rent in West Tempe is $1,511 while the city average is $1,481. This is a -6.3% difference from last year. Residents enjoy convenient access to Fifth St/Ash, Phoenix Sky Harbor International, and Papago Park.
The Lakes
Average Rent
$1,549/Month
Year-Over-Year Rent Change
2.8%
Units Available
168 Rentals
When you’re looking for a great Tempe neighborhood on a budget, check out The Lakes. The average rent is $1,549, compared to the city average of $1,481. Rent prices have decreased by 2.8%. The Lakes is convenient to Fry's Marketplace, Phoenix-Mesa Gateway, and Phoenix Sky Harbor International.
Apache
Average Rent
$1,640/Month
Year-Over-Year Rent Change
3.7%
Units Available
291 Rentals
Apache is an affordable neighborhood in Tempe with an average rent price of $1,640. Compare this to the city average of $1,481. In the past year, rent prices have decreased by 3.7%. Apache provides easy access to University 101 Shops, Fort Knox Plaza, and Dorsey Ln/Apache Blvd.
Downtown Tempe
Average Rent
$1,733/Month
Year-Over-Year Rent Change
1.8%
Units Available
842 Rentals
If you’re looking for a great, affordable neighborhood in Tempe, Downtown Tempe might be the perfect place! It has an average rent price of $1,733, while the city’s average stands at $1,481. In the last year, prices have decreased by 1.8%. Downtown Tempe is near Mesa C.C., Southern and Dobson, Tempe/mill Avenue, and Phoenix Sky Harbor International.
North Tempe
Average Rent
$1,860/Month
Year-Over-Year Rent Change
3.2%
Units Available
370 Rentals
North Tempe is a top choice for budget-conscious renters for a variety of reasons. The average rent in North Tempe is $1,860 while the city average is $1,481. This is a -3.2% difference from last year. Residents enjoy convenient access to Tempe Transportation Center, Arizona State University, and Rio Salado Courtyard.
Ready to make your move to Tempe? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.