Cheap Homes for Rent in UNC Chapel Hill Neighborhood of Chapel Hill, NC from $500 (10 Rentals)

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

property at 303 Smith Level Rd

$735

Total Monthly Price

Total Monthly Price

Base Rent
$735

Total Monthly Price
$735

1 Bedroom, 1 Bath Condo for Rent

Available Aug 1

303 Smith Level Rd, Unit D24, Unit D24

303 Smith Level Rd
Chapel HillNC27516

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property at 500 Umstead Dr

$1,250 - $1,500

2 To 3 Bedroom Rentals

Available Now

500 Umstead Dr

Chapel HillNC27516

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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 $1,060. 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$1,060
Ridgewood - Students save up to 10%!Melrose1BR,1BA$1,130

Best Value Apartments for Rent in UNC Chapel Hill, NC

As of May 08, 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 B4 Model at Morgan Reserve starting at $1,894 with a $1.60 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
Morgan ReserveB42BR,2BA$1.60
The Morgan at Chapel HillB12BR,2BA$1.67
The Wilson ApartmentsInviting 3 Bedroom Apartment in the Heart of Ca...3BR,1BA$1.72
Laurel Ridge ApartmentsColumbia2BR,1BA$1.39
Carolina - Students save up to 10%!Hatteras2BR,1.5BA$1.46
Collins Crossingb20b2BR,2BA$1.45
Union Chapel HillB22BR,2BA$1.93
River View1A1BR,1BA$1.72
The Villages of Chapel HillThe Brighton - Cozy Studio Apartment HomeStudio ,1BA$1.67

Frequently Asked Questions about UNC Chapel Hill

What type of rentals are currently available in UNC Chapel Hill?

There are currently 97 Apartments for Rent in UNC Chapel Hill, NC with pricing that ranges from $768 to $8,775. There are also 61 Single Family Homes for rent, Condos, and Townhome rentals currently available in UNC Chapel Hill ranging from $550 to $4,500.

What is the current price range for Rental Homes in UNC Chapel Hill?

Today's rental pricing for Homes for Rent, Condos and Townhomes in UNC Chapel Hill ranges from $550 to $4,500 with an average monthly rent of $2,436.

How much are larger Three and Four Bedroom Rentals in UNC Chapel Hill?

For those who are looking for larger living arrangements, Three Bedroom Apartments in UNC Chapel Hill range from $1,110 to $8,775, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,900 to $3,200. Four Bedroom Single-Family rentals are also available starting from $1,700 and Four Bedroom Apartments start at $1,095.

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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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.

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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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.