Cheap Apartments for Rent in the UNC Chapel Hill Neighborhood of Chapel Hill, NC from $700 (29 Rentals)

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

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
property at 500 Umstead Dr

$1,000 - $1,500

2 To 3 Bedroom Rentals

Available Now

500 Umstead Dr

Chapel HillNC27516

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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612 Hillsborough
2 Bedroom Apartments

612 Hillsborough

612 Hillsborough StChapel Hill, NC 27514
  • Utilities Included
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Morgan Reserve
1 to 2 Bedroom Apartments

Morgan Reserve

5205 Barbee Chapel RdChapel Hill, NC 27517

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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River View
Rent Specials
$1,133 - $1,583
Total Monthly Price

Total Monthly Price

Base Rent
$1,133 - $1,583
Total Monthly Price
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1 to 2 Bedroom Apartments Available Now

River View

201 Westbrook DrCarrboro, NC 27510
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  • Customer Reviewed
  • 3D Tour
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Collins Crossing
Rent Specials
$1,221 - $1,870
Total Monthly Price

Total Monthly Price

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$1,221 - $1,870
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2 to 3 Bedroom Apartments Available Now

Collins Crossing

501 Jones Ferry RdCarrboro, NC 27510
Student Housing
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  • 3D Tour

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-29, 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 The Villages of Chapel Hill priced from $958. Estes Park - Students Save Up To 10%! has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,055. Here are the most affordable UNC Chapel Hill apartments for rent in Chapel Hill, NC:

Apartment ListingModel NameBed/BathPriced From
The Villages of Chapel HillThe Brighton - Cozy Studio Apartment HomeStudio,1BA$958
Estes Park - Students Save Up To 10%!Grove at Estes Park1BR,1BA$1,055
Royal Park - Students save up to 10%!Barnes1BR,1BA$1,100
Ridgewood - Students save up to 10%!Melrose1BR,1BA$1,115
River View1A1BR,1BA$1,133
Link Apartments® CalyxS1Studio,1BA$1,184
Glen Lennox North2 Bedroom 1 Bath B2BR,1BA$1,197
Bridges at Chapel HillA11BR,1BA$1,203
Collins Crossingb20b2BR,2BA$1,221
Laurel Ridge ApartmentsColumbia2BR,1BA$1,240

Best Value Apartments for Rent in UNC Chapel Hill, NC

As of April 23, 2026 the best value apartment in the UNC 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 UNC Chapel Hill apartment is the A3 Model at The Morgan at Chapel Hill starting at $1,538 with a $1.64 price per square foot in the Downing Creek 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 LoftsC13BR,3BA$0.94
The Morgan at Chapel HillA31BR,1BA$1.64
The Wilson ApartmentsInviting 3 Bedroom Apartment in the Heart of Ca...3BR,1BA$1.72
Laurel Ridge ApartmentsColumbia2BR,1BA$1.35
Carolina - Students save up to 10%!Hatteras2BR,1.5BA$1.47
Morgan ReserveA51BR,1BA$1.71
Glen Lennox North2 Bedroom 1 Bath B2BR,1BA$1.36
Collins Crossingb20b2BR,2BA$1.45
River View1A1BR,1BA$1.72
The Villages of Chapel HillThe Brighton - Cozy Studio Apartment HomeStudio ,1BA$1.67

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 $1,240.

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 $1,055, while the average apartment in UNC Chapel Hill costs $4,500.

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 82 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 $1,938 which is $2,562 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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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.

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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.

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.