Cheap 2 Bedroom Apartments for Rent in the Downtown Raleigh Neighborhood of Raleigh, NC from $830 (90 Rentals)

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Raleigh's Best Affordable Neighborhoods

Learn about Raleigh and the best places to live with original content written by our , Local Expert Chris Munier

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Downtown Raleigh

Named as one of the Best Affordable Neighborhoods to rent in Raleigh by our , Local Expert Chris Munier. See how it ranks!

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property at 5605 Thea Ln

5605 Thea Ln

RaleighNC27606
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Penwood Apartments
2 Bedroom Apartments

Penwood Apartments

5401-5445 Penwood DrRaleigh, NC 27606
  • Utilities Included
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Downtown Raleigh, Raleigh, NC Local Guide

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Frequently Asked Questions about Cheap Downtown Raleigh Apartments

What is a cheap apartment in Downtown Raleigh?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Raleigh is under $965.

What is the price of a cheap apartment in Downtown Raleigh?

The cheapest apartment in Downtown Raleigh is The Wilde which is listed at $880, while the average apartment in Downtown Raleigh costs $3,750.

What types of apartments are the cheapest in Downtown Raleigh?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 96 regular apartments in Downtown Raleigh that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Raleigh?

Cheap apartments in Downtown Raleigh have an average cost of $566 which is $3,184 cheaper than the average rent for all rentals in Downtown Raleigh.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Raleigh article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Raleigh

Written by: Chris Munier

Raleigh offers not only an exciting urban environment, the centerpiece of a thriving metro area, but it’s also affordable. That is, assuming you know where to rent.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.