Cheap Apartments for Rent in the University Place Neighborhood of Chapel Hill, NC from $400 (32 Rentals)

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

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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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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property at 8 Shepherd Ln

$1,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

8 Shepherd Ln

Chapel HillNC27514

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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-32, Page 1 of 1

University Place, Chapel Hill, NC Local Guide

Cheapest Available University Place Apartments for Rent

 

The cheapest available apartment rental in the University Place area of Chapel Hill, NC is a 1 Bed unit found at Shadowood priced from $927. Nova Chapel Hill has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,000. Here are the most affordable University Place apartments for rent in Chapel Hill, NC:

Apartment ListingModel NameBed/BathPriced From
ShadowoodThe Oak1BR,1BA$927
Nova Chapel HillRedwood1BR,1BA$1,000
Glen Lennox Apartments2 Bedroom 1 Bath A2BR,1BA$1,070
Link Apartments® CalyxS1Studio,1BA$1,084
Estes Park - Students Save Up To 10%!Grove at Estes Park1BR,1BA$1,085
PineGate - Students save up to 10%!Cypress1BR,1BA$1,120
Laurel Ridge ApartmentsLaurel1BR,1BA$1,125
Rise Chapel HillA1 Classic1BR,1BA$1,140
Sunstone ApartmentsThe Opal1BR,1BA$1,198
900 WillowS1B-ALTStudio,1BA$1,204

Best Value Apartments for Rent in University Place, NC

As of January 08, 2026 the best value apartment in the University Place 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 University Place apartment is the C1 Model at The Apartments at Midtown 501 starting at $1,900 with a $1.65 price per square foot in the Sayward Drive neighborhood. Here is today’s list of the best values for University Place apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shortbread LoftsC13BR,3BA$0.94
The Apartments at Midtown 501C13BR,2BA$1.65
Booker Creek - Students save up to 10%!Serenity at Booker Creek2BR,1.5BA$1.37
Franklin Woods - Students: Save up to 10%!Marilyn2BR,1.5BA$1.67
Sunstone ApartmentsThe Jade2BR,1BA$1.71
Avana 55TwelveA21BR,1BA$1.49
Laurel Ridge ApartmentsLaurel1BR,1BA$1.40
Glen Lennox Apartments2 Bedroom 1 Bath A2BR,1BA$1.49
Rise Chapel HillA1 Classic1BR,1BA$1.63
Nova Chapel HillRedwood1BR,1BA$1.49

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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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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Pet Friendly Lifestyle
University Place, Chapel Hill, NC

Ranked #3

Among cities in North Carolina for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap University Place Apartments

What is a cheap apartment in University Place?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in University Place is under $1,204.

What is the price of a cheap apartment in University Place?

The cheapest apartment in University Place is Shadowood which is listed at $927, while the average apartment in University Place costs $2,495.

What types of apartments are the cheapest in University Place?

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 241 regular apartments in University Place 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 University Place?

Cheap apartments in University Place have an average cost of $1,237 which is $1,258 cheaper than the average rent for all rentals in University Place.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!