Cheap Apartments for Rent in the Five Points Neighborhood of Asheville, NC from $397 (63 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Five Points area of Asheville.

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161 Edgewood Rd, Unit 2
$1,325
Total Monthly Price

Total Monthly Price

Base Rent
$1,325
Total Monthly Price
$1,325
1 Bedroom Apartment Available Now

161 Edgewood Rd, Unit 2

161 Edgewood RdAsheville, NC 28804
Furnished
  • Smoke Free

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 339 Merrimon Ave

$1,431

Total Monthly Price

Total Monthly Price

Base Rent
$1,431
Total Monthly Price
$1,431

1 Bedroom, 1 Bath Home for Rent

Available Feb 4, 2027

339 Merrimon Ave

AshevilleNC28801
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Artful Way
$1,485 - $1,755
Total Monthly Price

Total Monthly Price

Base Rent
$1,485 - $1,755
Total Monthly Price
$1,485 - $1,755
Studio Apartments Available Now

Artful Way

31 Artful WayAsheville, NC 28801
Furnished
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  • Utilities Included
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 62 Branning St

$1,625

Total Monthly Price

Total Monthly Price

Base Rent
$1,625
Total Monthly Price
$1,625

3 Bedroom, 2 Bath Home for Rent

Available Now

62 Branning St

AshevilleNC28806
property at 74 Deaver St

$1,625

Total Monthly Price

Total Monthly Price

Base Rent
$1,625
Total Monthly Price
$1,625

2 Bedroom, 2 Bath Home for Rent

Available Now

74 Deaver St

AshevilleNC28806
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Eagle Market Place
Studio to 3 Bedroom Apartments

Eagle Market Place

21 Eagle StAsheville, NC 28801
  • Utilities Included
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Woodridge Apartments
1 to 4 Bedroom Apartments

Woodridge Apartments

61 Bingham RdAsheville, NC 28806
  • Utilities Included
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Overlook Apartments
1 Bedroom Apartments

Overlook Apartments

127 Bartlett StAsheville, NC 28801
Senior Living
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Glen Rock
1 to 3 Bedroom Apartments

Glen Rock

372 Depot StAsheville, NC 28801
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Miramonte Forest
1 to 2 Bedroom Apartments

Miramonte Forest

25 Howland RdAsheville, NC 28804
  • Utilities Included
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Maple Crest Apartments
1 to 3 Bedroom Apartments

Maple Crest Apartments

20 Lee Garden LnAsheville, NC 28801
  • Utilities Included
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Manor Inn
1 to 3 Bedroom Apartments

Manor Inn

265 Charlotte StAsheville, NC 28801
  • Utilities Included
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60 Flint St
Studio to 1 Bedroom Apartments

60 Flint St

60 Flint StAsheville, NC 28801
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40 Gertrude Pl
Studio to 3 Bedroom Apartments

40 Gertrude Pl

40 Gertrude PlAsheville, NC 28801
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205 Hillside St
Studio to 2 Bedroom Apartments

205 Hillside St

205 Hillside StAsheville, NC 28801
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295 E Chestnut St
1 to 2 Bedroom Apartments

295 E Chestnut St

295 E Chestnut StAsheville, NC 28801

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Five Points, Asheville, NC Local Guide

Cheapest Available Five Points Apartments for Rent

 

The cheapest available apartment rental in the Five Points area of Asheville, NC is a 1 Bed unit found at Woods Townhomes priced from $895. 60 Flint St has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here are the most affordable Five Points apartments for rent in Asheville, NC:

Apartment ListingModel NameBed/BathPriced From
Woods Townhomes1 Bed 1 Bath1BR,1BA$895
60 Flint St0 Beds, 1 BathsStudio,1BA$950
Grove Park Apartments0 Beds, 1 BathsStudio,1BA$1,100
295 E Chestnut St1 Beds, 1 Baths1BR,1BA$1,250
Ridge View Apartments1BR/1.0BA1BR,1BA$1,275
Willow Ridge2 Bedroom 1.5 Baths2BR,1BA$1,299
Retreat At Hunt HillNantahala-S1Studio,1BA$1,305
RADVIEWRiver & RailsStudio,1BA$1,365

Best Value Apartments for Rent in Five Points, NC

As of August 30, 2026 the best value apartment in the Five Points area is the $2.05 price per square foot 150 Waterrock Model at The Lofts at SS/150 in the in the Rock Springs neighborhood starting from $2,410. The second greatest value Five Points apartment is the 3 Bed 1 Bath Model at Woods Townhomes starting at $1,195 with a $1.16 price per square foot in the Rock Springs neighborhood. Here is today’s list of the best values for Five Points apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Lofts at SS/150150 Waterrock2BR,2BA$2.05
Woods Townhomes3 Bed 1 Bath3BR,1BA$1.16
116 Lookout Dr, Unit A116 Lookout Dr2BR,1.5BA$1.70
Woodberry2 x 22BR,2BA$1.91
The Northside at Merrimon2 bed/1 bath flat2BR,1BA$1.82
Willow Ridge2 Bedroom 1.5 Baths2BR,1.5BA$1.62
Enclave Piney MountainA11BR,1BA$2.14
Skyloft ApartmentsA11BR,1BA$1.84
Ridge View Apartments1BR/1.0BA1BR,1BA$1.70
161 Edgewood Rd, Unit 2161 Edgewood Rd1BR,1BA$2.04

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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Best Local Schools in
Five Points, Asheville, NC

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Lifestyle Ratings

Our team of engineers and researchers is proud to bring you Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Asheville, North Carolina. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, kid and pet-friendly communities, availability of transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Five Points Apartments

What is a cheap apartment in Five Points?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Five Points is under $1,365.

What is the price of a cheap apartment in Five Points?

The cheapest apartment in Five Points is Woods Townhomes which is listed at $895, while the average apartment in Five Points costs $1,700.

What types of apartments are the cheapest in Five Points?

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 18 regular apartments in Five Points that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.