Cheap Apartments for Rent in the Downtown Raleigh Neighborhood of Raleigh, NC from $500 (271 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Raleigh area of Raleigh.

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Downtown Raleigh - One of the Best Affordable Neighborhoods in 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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Raleigh's Best Affordable Neighborhoods

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Downtown Raleigh, Raleigh, NC Local Guide

Cheapest Available Downtown Raleigh Apartments for Rent

 

The cheapest available apartment rental in the Downtown Raleigh area of Raleigh, NC is a 4 Beds unit found at The Wilde priced from $735. Westgrove Tower Condominiums has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
The WildeD14BR,4BA$735
Westgrove Tower CondominiumsS1Studio,1BA$895
1820 at Centennial4x44BR,4BA$900
Vivo Living North WoodsStudio AStudio,1BA$905
MontecitoOne Bedroom1BR,1BA$940
1105 Flats at North HillsA11BR,1BA$945
Pullen Station LoftsStudioStudio,1BA$950
The HarrisonStudio BStudio,1BA$960

Best Value Apartments for Rent in Downtown Raleigh, NC

As of April 29, 2025 the best value apartment in the Downtown Raleigh area is the $0.60 price per square foot 4x4 Model at University Village at 2505 in the in the University Suites neighborhood starting from $869. The second greatest value Downtown Raleigh apartment is the 4 Bed, 4 Bath Plus Model at Yugo Raleigh Logan starting at $1,179 with a $0.88 price per square foot in the Cameron Park neighborhood. Here is today’s list of the best values for Downtown Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
University Village at 25054x44BR,4BA$0.60
Yugo Raleigh Logan4 Bed, 4 Bath Plus4BR,4BA$0.88
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Ridge Student Housing3x33BR,3BA$0.58
Centennial Village Student Housing3x33BR,3BA$0.58
1820 at Centennial3x33BR,3BA$0.84
Campus Edge2x2 Platinum2BR,2BA$0.99
Village Green Student Housing2BD/2BA2BR,2BA$1.06
Method Townhomes2BD / 2.5BA Townhome2BR,2.5BA$0.89
Campus Crossings at Raleigh2 Bedroom 2 Bathroom2BR,2BA$0.95

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Pet Friendly Lifestyle
Downtown Raleigh, Raleigh, NC

Ranked #2

Among neighborhoods in Raleigh, NC for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Raleigh, Raleigh, NC

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you Lifestyle Ratings of neighborhoods, cities, and rental properties across North Carolina including Downtown Raleigh, Raleigh, and the greater Raleigh area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

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 $960.

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

The cheapest apartment in Downtown Raleigh is Montecito which is listed at $940, 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 101 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 $558 which is $3,192 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.

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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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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.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.