Cheap Apartments for Rent in the UNC Chapel Hill Neighborhood of Chapel Hill, NC from $700 (33 Rentals)

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Search the lowest-cost Apartments available for rent right now in the UNC Chapel Hill 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 304 Umstead Dr

$695 - $1,050

Total Monthly Price

Total Monthly Price

Base Rent
$695 - $1,050
Total Monthly Price
$695 - $1,050

1 Bedroom, 1 Bath Home for Rent

Available Now

304 Umstead Dr

Chapel HillNC27516
property at 907 Oak Tree Dr

$800 - $850

1 Bedroom Rentals

Available Now

907 Oak Tree Dr

Chapel HillNC27517

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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Trustee Corner
Studio Apartments

Trustee Corner

115 N Merritt Mill RdChapel Hill, NC 27516

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 1002 Willow Dr

$1,200 - $1,595

1 To 2 Bedroom Rentals

Available Now

1002 Willow Dr

Chapel HillNC27514
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

$550 - $700

Total Monthly Price

Total Monthly Price

Base Rent
$550 - $700
Total Monthly Price
$550 - $700

1 Bedroom, 1 Bath Home for Rent

Available Soon

108 Pine St

CarrboroNC27510

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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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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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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Showing Results 1-33, Page 1 of 1

UNC Chapel Hill, Chapel Hill, NC Local Guide

Cheapest Available UNC Chapel Hill Apartments for Rent

 

The cheapest available apartment rental in the UNC Chapel Hill area of Chapel Hill, NC is a Studio unit found at Link Apartments® Calyx priced from $950. The Villages of Chapel Hill has the second lowest priced unit, which is a Studio apartment currently listed from $958. Here are the most affordable UNC Chapel Hill apartments for rent in Chapel Hill, NC:

Apartment ListingModel NameBed/BathPriced From
Link Apartments® CalyxS1-AStudio,1BA$950
The Villages of Chapel HillNCVCH S1 0x1 575sqft - BrightonStudio,1BA$958
Estes Park - Students Save Up To 10%!Grove at Estes Park1BR,1BA$1,080
Royal Park - Students save up to 10%!Majestic2BR,1BA$1,095
Kingswood - Students save up to 10%!Tar Heel2BR,1BA$1,120
Glen Lennox Apartments1 Bedroom 1 Bath A1BR,1BA$1,151
Collins Crossingb20b2BR,2BA$1,232
Trinity Court Apartments1x11BR,1BA$1,250
Laurel Ridge ApartmentsColumbia2BR,1BA$1,275
River View1A1BR,1BA$1,295

Best Value Apartments for Rent in UNC Chapel Hill, NC

As of July 23, 2026 the best value apartment in the UNC Chapel Hill 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 UNC Chapel Hill apartment is the 2 Beds, 1.5 Baths Model at Cedar Court starting at $1,650 with a $1.56 price per square foot in the Triple Crown Estates neighborhood. Here is today’s list of the best values for UNC Chapel Hill apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shortbread LoftsD24BR,4BA$1.08
Cedar Court2 Beds, 1.5 Baths2BR,1.5BA$1.56
The Wilson ApartmentsInviting 3 Bedroom Apartment in the Heart of Ca...3BR,1BA$1.72
Laurel Ridge ApartmentsColumbia2BR,1BA$1.39
Royal Park - Students save up to 10%!Majestic2BR,1BA$1.22
Collins Crossingb10a2BR,1BA$1.53
Union Chapel HillB22BR,2BA$1.83
Bridges at Chapel HillA21BR,1BA$1.66
Trinity Court Apartments1x11BR,1BA$1.67
The Villages of Chapel HillNCVCH S1 0x1 575sqft - BrightonStudio ,1BA$1.67

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 Lifestyle Ratings of rentals in areas across the United States including UNC Chapel Hill, Chapel Hill, and the greater Chapel Hill 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 rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap UNC Chapel Hill Apartments

What is a cheap apartment in UNC Chapel Hill?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in UNC Chapel Hill is under $1,295.

What is the price of a cheap apartment in UNC Chapel Hill?

The cheapest apartment in UNC Chapel Hill is Estes Park - Students Save Up To 10%! which is listed at $1,080, while the average apartment in UNC Chapel Hill costs $4,000.

What types of apartments are the cheapest in UNC 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 64 regular apartments in UNC Chapel Hill 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 UNC Chapel Hill?

Cheap apartments in UNC Chapel Hill have an average cost of $824 which is $3,176 cheaper than the average rent for all rentals in UNC Chapel Hill.

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.

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.

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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.

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

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.