Cheap Apartments for Rent in the Downtown Neighborhood of Greensboro, NC from $500 (23 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown area of Greensboro.

property at 603 Park Ave

$825

Studio To 1 Bedroom Rentals

Available Now

603 Park Ave

GreensboroNC27405

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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property at 230 S Park Dr

$915

1 Bedroom Rentals

Available Now

230 S Park Dr

GreensboroNC27401
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Chestnut Court
1 to 2 Bedroom Apartments

Chestnut Court

757 Chestnut StGreensboro, NC 27405
  • Utilities Included

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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The Inn at Greensboro
Studio to 2 Bedroom Apartments

The Inn at Greensboro

1000 W Market StGreensboro, NC 27401
Student Housing
  • Utilities Included
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Park South Apartments
1 Bedroom Apartments

Park South Apartments

230 South Park DrGreensboro, NC 27401
  • Utilities Included

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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Asberry Courts
1 to 3 Bedroom Apartments

Asberry Courts

1230 S Eugene StGreensboro, NC 27406
Showing Results 1-23, Page 1 of 1

Downtown, Greensboro, NC Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown area of Greensboro, NC is a 1 Bed unit found at The Magnolia at Fisher Park priced from $895. CityView has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,081. Here are the most affordable Downtown apartments for rent in Greensboro, NC:

Apartment ListingModel NameBed/BathPriced From
The Magnolia at Fisher ParkRear Layout1BR,1BA$895
CityViewO'Henry1BR,1BA$1,081
Mendenhall Square2 x 12BR,1BA$1,199
Carroll at Bellemeade1x1a4b (A4)1BR,1BA$1,440
Bailey Village (Not Student Housing)2B2BR,2BA$1,450

Best Value Apartments for Rent in Downtown, NC

As of May 24, 2026 the best value apartment in the Downtown area is the $0.64 price per square foot 903 Martin St Model at 903 Martin St, Unit B in the in the Gorrell St. Community neighborhood starting from $1,295. The second greatest value Downtown apartment is the 2B Model at Bailey Village (Not Student Housing) starting at $1,450 with a $1.26 price per square foot in the Gorrell St. Community neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
903 Martin St, Unit B903 Martin St3BR,1.5BA$0.64
Bailey Village (Not Student Housing)2B2BR,2BA$1.26
102-G Wafco Lane, Unit G102-G Wafco Lane2BR,2BA$1.30
Mendenhall Square2 x 12BR,1BA$1.48
409 N Cedar St, Unit D409 N Cedar St1BR,1BA$1.13
Cottages at GreensboroB12BR,1BA$0.87
Carroll at Bellemeade1x1a6 (A6)1BR,1BA$2.26
Greenway at Fisher ParkAycock1BR,1BA$2.28
CityViewO'Henry1BR,1BA$1.78
The Magnolia at Fisher ParkFront Layout1BR,1BA$1.54

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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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
Downtown, Greensboro, NC

Ranked #122

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Apartments

What is the price of a cheap apartment in Downtown?

The cheapest apartment in Downtown is The Magnolia at Fisher Park which is listed at $895, while the average apartment in Downtown costs $2,097.

What types of apartments are the cheapest in Downtown?

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 7 regular apartments in Downtown 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 Downtown?

Cheap apartments in Downtown have an average cost of $551 which is $1,546 cheaper than the average rent for all rentals in Downtown.

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

decorative image for Where to Rent in Greensboro: Top Affordable Neighborhoods for Families and Singles article

Where to Rent in Greensboro: Top Affordable Neighborhoods for Families and Singles

Written by: Catrina Cowart

Hello again, everyone. I'm Catrina, and I'm your ApartmentHomeLiving.com Local Expert for Greensboro, North Carolina.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.