Cheap Apartments for Rent in the Lockwood Neighborhood of Raleigh, NC from $500 (25 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Stony Brook
Studio Apartments

Stony Brook

3001-3015 Lake Woodard DrRaleigh, NC 27604
  • Utilities Included

Raleigh's Best Affordable Neighborhoods

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

close
View Me
Walnut Woods Apartments
2 to 3 Bedroom Apartments

Walnut Woods Apartments

3417 Middle Branch RdRaleigh, NC 27610
  • Utilities Included
close
View Me
Oakwood Apartments
2 Bedroom Apartments

Oakwood Apartments

705 N Boundary StRaleigh, NC 27604
  • Utilities Included
close
View Me
Duplex Village
2 Bedroom Apartments

Duplex Village

1900-2006 Hawkins StRaleigh, NC 27610
  • Utilities Included
close
View Me
Magnolia Square
1 Bedroom Apartments

Magnolia Square

511 E Martin StRaleigh, NC 27601
close
View Me
Five Point Cottages
2 Bedroom Apartments

Five Point Cottages

2201-2223 Brewer StRaleigh, NC 27608
  • Utilities Included
close
View Me
200 E Edenton St
1 to 2 Bedroom Apartments

200 E Edenton St

200 E Edenton StRaleigh, NC 27601
  • Utilities Included

Lockwood, Raleigh, NC Local Guide

Cheapest Available Lockwood Apartments for Rent

 

The cheapest available apartment rental in the Lockwood area of Raleigh, NC is a Studio unit found at The Harrison priced from $960. The Waverly has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,055. Here are the most affordable Lockwood apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
The HarrisonStudio BStudio,1BA$960
The WaverlyBerkely1BR,1BA$1,055
Northstone Apartments1BR/1BA1BR,1BA$1,075
Skyhouse RaleighS2Studio,1BA$1,112
The FalstaffCypressStudio,1BA$1,125

Best Value Apartments for Rent in Lockwood, NC

As of April 16, 2025 the best value apartment in the Lockwood area is the $1.56 price per square foot Winchester Model at The Waverly in the in the East Raleigh neighborhood starting from $2,112. The second greatest value Lockwood apartment is the 3 Bed 2 Bath Model at Sunnybrook Pointe starting at $1,693 with a $1.32 price per square foot in the East Raleigh neighborhood. Here is today’s list of the best values for Lockwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The WaverlyWinchester3BR,2BA$1.56
Sunnybrook Pointe3 Bed 2 Bath3BR,2BA$1.32
Capital Apartments2011BR,1BA$1.49
1401 Coopershill Drive2 Bed 2 Bath2BR,2BA$1.66
Parkside at Five PointsPS 2x1.52BR,1.5BA$1.26
Milner Commons2 Bedroom - The Evergreen2BR,1BA$1.22
Longview Village Apartments2 Bedroom, 1 Bathroom2BR,1BA$1.53
Northstone Apartments1BR/1BA1BR,1BA$1.31
Broadstone Oak CityA21BR,1BA$1.74
Brentmoor ApartmentsOberlin1BR,1BA$1.71

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Lockwood, Raleigh, NC

Ranked #47

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

This website compiles millions of data points to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Raleigh, North Carolina. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, transit availability, pet-friendly communities, features that make it easier to raise kids, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Lockwood Apartments

What is a cheap apartment in Lockwood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lockwood is under $1,203.

What is the price of a cheap apartment in Lockwood?

The cheapest apartment in Lockwood is The Harrison which is listed at $995, while the average apartment in Lockwood costs $5,357.

What types of apartments are the cheapest in Lockwood?

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 12 regular apartments in Lockwood 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 Lockwood?

Cheap apartments in Lockwood have an average cost of $403 which is $4,954 cheaper than the average rent for all rentals in Lockwood.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords & Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords & 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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.