Recently I've been doing a lot of low-level work with ARMv7-M microcontrollers (specifically, NXP's Kinetis Cortex-M4 chips) and was quite pleased to find out that they are pretty lenient about unaligned accesses. To quote from the ARM Cortex-M4 Processor Technical Reference Manual:
"Unaligned word or halfword loads or stores add penalty cycles. A byte aligned halfword load or store adds one extra cycle to perform the operation as two bytes. A halfword aligned word load or store adds one extra cycle to perform the operation as two halfwords. A byte-aligned word load or store adds two extra cycles to perform the operation as a byte, a halfword, and a byte. These numbers increase if the memory stalls."
However, multi-word memory instructions (LDRD, STRD, LDM, STM, etc.) always require their arguments to be word-aligned.
"Unaligned word or halfword loads or stores add penalty cycles. A byte aligned halfword load or store adds one extra cycle to perform the operation as two bytes. A halfword aligned word load or store adds one extra cycle to perform the operation as two halfwords. A byte-aligned word load or store adds two extra cycles to perform the operation as a byte, a halfword, and a byte. These numbers increase if the memory stalls."
However, multi-word memory instructions (LDRD, STRD, LDM, STM, etc.) always require their arguments to be word-aligned.