Cheap Homes for Rent in Raleigh, NC from $500 (119 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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Raleigh, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 04/13/2025

Current apartment rentals in the Raleigh, NC area range in price from $450 to $16,600 with an overall median price of $3,276. The three Raleigh neighborhoods with the lowest median rent pricing are Oakwood Park at $1,374, Hunters Crossing at $650, and Sussex Place at $845. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Oakwood Park$1,374$1,3741
Hunters Crossing$1,410$650112
Sussex Place$1,797$845476
Hunters Creek$1,806$650204
Ashebrook$1,834$845398
Yester Oaks$1,834$725229
Sagewood$1,861$845205
Lochmere$1,888$1,030118
Brandon Station$1,888$725136
Stonehenge$1,898$725172

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 4 Beds unit found at The Wilde in the Lakeside neighborhood priced from $735. Westgrove Tower Condominiums in the Grove Park neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here is today’s list of the most affordable Raleigh apartments for rent:

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
Vivo Living RaleighThe Glenwood1BR,1BA$909
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$930
Arbor Creek11A1BR,1BA$935
Pullen Station LoftsStudioStudio,1BA$950

Best Value Apartments for Rent in Raleigh, NC

As of April 13, 2025 the best value apartment in the Raleigh area is the $1.03 price per square foot Chestnut Model at Houndswood Village in the in the South Durham neighborhood starting from $2,456. The second greatest value Raleigh apartment is the 4x4 Model at University Village at 2505 starting at $869 with a $0.60 price per square foot in the University Suites neighborhood. Here is today’s list of the best values for Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Houndswood VillageChestnut3BR,3.5BA$1.03
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 Village Student Housing3x33BR,3BA$0.58
Centennial Ridge Student Housing3x33BR,3BA$0.58
1820 at Centennial3x33BR,3BA$0.84
Campus Edge2x2 Platinum2BR,2BA$0.99
Method Townhomes2BD / 2.5BA Townhome2BR,2.5BA$0.89
Campus Crossings at Raleigh2 Bedroom 2 Bathroom2BR,2BA$0.95

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Raleigh, NC Area Reviews

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Chris • 1+ years in Raleigh

February 27, 2025

It's an ideal spot for college students, young families, and business professionals. If you can tolerate some traffic jams periodically, then Raleigh's a terrific area in North Carolina.

Frequently Asked Questions about Raleigh

What type of rentals are currently available in Raleigh?

There are currently 1516 Apartments for Rent in Raleigh, NC with pricing that ranges from $450 to $16,600. There are also 1016 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $560 to $6,000.

What is the current price range for Rental Homes in Raleigh?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Raleigh ranges from $560 to $6,000 with an average monthly rent of $2,311.

How much are larger Three and Four Bedroom Rentals in Raleigh?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Raleigh range from $635 to $9,244, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,290 to $4,500. Four Bedroom Single-Family rentals are also available starting from $595 and Four Bedroom Apartments start at $450.

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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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.