Cheap Apartments for Rent in the Clearwater Lake Neighborhood of Chapel Hill, NC from $700 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Clearwater Lake area of Chapel Hill.

property at 303 Smith Level Rd

$550

Total Monthly Price

Total Monthly Price

Base Rent
$550
Total Monthly Price
$550

1 Bedroom, 1 Bath Condo for Rent

Available Aug 1

303 Smith Level Rd, Unit A23

303 Smith Level Rd
Chapel HillNC27516
property at 907 Oak Tree Dr

$800 - $850

1 Bedroom Rentals

Available Now

907 Oak Tree Dr

Chapel HillNC27517

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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Trustee Corner
Studio Apartments

Trustee Corner

115 N Merritt Mill RdChapel Hill, NC 27516

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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property at 500 Umstead Dr

$1,250 - $1,495

2 To 3 Bedroom Rentals

Available Now

500 Umstead Dr

Chapel HillNC27516
property at 108 Pine St

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

1 Bedroom, 1 Bath Home for Rent

Available Now

108 Pine St

CarrboroNC27510

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Collins Crossing
Rent Specials
$1,232 - $1,802
Total Monthly Price

Total Monthly Price

Base Rent
$1,232 - $1,802
Total Monthly Price
Varies
2 to 3 Bedroom Apartments Available Now

Collins Crossing

501 Jones Ferry RdCarrboro, NC 27510
Student Housing
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Berkshire 54
1 to 2 Bedroom Apartments

Berkshire 54

112 Hwy 54 BypassCarrboro, NC 27510
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Poplar Place
1 to 2 Bedroom Apartments

Poplar Place

605 Jones Ferry RdCarrboro, NC 27510
Corporate Housing

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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Showing Results 1-40, Page 1 of 1

Clearwater Lake, Chapel Hill, NC Local Guide

Cheapest Available Clearwater Lake Apartments for Rent

 

The cheapest available apartment rental in the Clearwater Lake area of Durham, NC is a 1 Bed unit found at Chateau Apartments priced from $925. Berkshire 54 has the second lowest priced unit, which is a 2 Beds apartment currently listed from $949. Here are the most affordable Clearwater Lake apartments for rent in Durham, NC:

Apartment ListingModel NameBed/BathPriced From
Chateau ApartmentsOne Bedroom1BR,1BA$925
Berkshire 54Cranwell R22BR,1BA$949
The Villages of Chapel HillNCVCH S1 0x1 575sqft - BrightonStudio,1BA$958
West End Flats2 Bedroom, 2 Bathroom2BR,2BA$1,044
Estes Park - Students Save Up To 10%!Grove at Estes Park1BR,1BA$1,070
Link Apartments® CalyxS1Studio,1BA$1,083
Trinity at the Hill1B1BR,1BA$1,100
Royal Park - Students save up to 10%!Majestic2BR,1BA$1,110
Kingswood - Students save up to 10%!Tar Heel2BR,1BA$1,140
Glen Lennox Apartments1 Bedroom 1 Bath A1BR,1BA$1,168

Best Value Apartments for Rent in Clearwater Lake, NC

As of July 16, 2026 the best value apartment in the Clearwater Lake area is the $1.08 price per square foot D2 Model at Shortbread Lofts in the in the Triple Crown Estates neighborhood starting from $1,575. The second greatest value Clearwater Lake apartment is the Lenox - Renovated Model at Berkshire 54 starting at $1,376 with a $1.32 price per square foot in the Triple Crown Estates neighborhood. Here is today’s list of the best values for Clearwater Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shortbread LoftsD24BR,4BA$1.08
Berkshire 54Lenox - Renovated2BR,1BA$1.32
Laurel Ridge ApartmentsColumbia2BR,1BA$1.39
Carolina - Students save up to 10%!Hatteras2BR,1.5BA$1.49
Royal Park - Students save up to 10%!Majestic2BR,1BA$1.23
Collins Crossingb10a2BR,1BA$1.53
West End Flats2 Bedroom, 1 Bathroom2BR,1BA$1.30
Chateau ApartmentsOne Bedroom1BR,1BA$1.16
Kingswood - Students save up to 10%!Tar Heel2BR,1BA$1.43
Trinity at the Hill1B1BR,1BA$1.40

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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Clearwater Lake, Chapel Hill, and the greater Durham area. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and proximity to parks, pet-friendly features, places that make kids happy, proximity to transit, and more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Clearwater Lake Apartments

What is a cheap apartment in Clearwater Lake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Clearwater Lake is under $1,168.

What is the price of a cheap apartment in Clearwater Lake?

The cheapest apartment in Clearwater Lake is Chateau Apartments which is listed at $925, while the average apartment in Clearwater Lake costs $4,000.

What types of apartments are the cheapest in Clearwater Lake?

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 71 regular apartments in Clearwater Lake 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 Clearwater Lake?

Cheap apartments in Clearwater Lake have an average cost of $805 which is $3,195 cheaper than the average rent for all rentals in Clearwater Lake.

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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Your Guide to the Top 10 Affordable Neighborhoods to Rent in Durham, NC

Written by: Billy K

I'm Billy, your ApartmentHomeLiving.com Local Expert for Durham, North Carolina. And if you’re considering settling down in Durham, you’re in luck.

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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.