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$1,728 - $7,236Studio to 4 Bedroom Apartments Contact Us For Availability
Carolina Square
123 W Franklin StChapel Hill, NC 27516
Cheap Apartments for Rent in the Downtown Chapel Hill Neighborhood of Chapel Hill, NC from $700 (4 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Chapel Hill area of Chapel Hill.
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$1,500 - $1,7501 Bedroom Apartments Available Now
University Apartments Chapel Hill
600 Martin Luther King Jr BlvdChapel Hill, NC 27514
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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1 Bedroom Apartments
408 Hillsborough St
408 Hillsborough StChapel Hill, NC 27514
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$1,060 - $1,6251 to 2 Bedroom Apartments Available Now
Estes Park - Students Save Up To 10%!
306 Estes DrCarrboro, NC 27510
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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Downtown Chapel Hill, Chapel Hill, NC Local Guide
How much does it cost to rent an apartment in Downtown Chapel Hill?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Chapel Hill Studio Apartments | $2,503 | $1,728 | $3,278 |
| Downtown Chapel Hill 1 Bedroom Apartments | $1,776 | $768 | $3,688 |
| Downtown Chapel Hill 2 Bedroom Apartments | $2,341 | $884 | $4,868 |
| Downtown Chapel Hill 3 Bedroom Apartments | $2,843 | $1,110 | $7,950 |
| Downtown Chapel Hill 4 Bedroom Apartments | $2,201 | $1,095 | $7,236 |
Browse Apartments in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Downtown Chapel Hill Neighborhood of Chapel Hill, NC.
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Best Value Apartments for Rent in Downtown Chapel Hill, NC
As of May 04, 2026 the best value apartment in the Downtown Chapel Hill area is the $0.94 price per square foot C1 Model at Shortbread Lofts in the in the Triple Crown Estates neighborhood starting from $1,140. The second greatest value Downtown Chapel Hill apartment is the B2 Model at Union Chapel Hill starting at $1,565 with a $1.93 price per square foot in the Triple Crown Estates neighborhood. Here is today’s list of the best values for Downtown Chapel Hill apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Shortbread Lofts | C1 | 3BR,3BA | $0.94 |
| Union Chapel Hill | B2 | 2BR,2BA | $1.93 |
| Estes Park - Students Save Up To 10%! | Grove at Estes Park | 1BR,1BA | $1.96 |
| University Apartments Chapel Hill | 1 Bedroom One Bathroom - Renovated | 1BR,1BA | $3.24 |
Frequently Asked Questions about Cheap Downtown Chapel Hill Apartments
What is the price of a cheap apartment in Downtown Chapel Hill?
The cheapest apartment in Downtown Chapel Hill is Estes Park - Students Save Up To 10%! which is listed at $1,060, while the average apartment in Downtown Chapel Hill costs $1,728.
What types of apartments are the cheapest in Downtown Chapel Hill?
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 37 regular apartments in Downtown Chapel Hill 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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.