Cheap Apartments for Rent in Raleigh, NC from $400 (639 Rentals)

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Search the lowest-cost Apartments available for rent right now in Raleigh.

Discover Raleigh, North Carolina: A Local's Take on the City of Oaks

Explore Raleigh's vibrant culture, from the best outdoor trails and museums to a comprehensive guide on the area's top-rated restaurants and nightlife, including the Warehouse District.

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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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property at 1008 Navaho Dr

$945 - $1,360

Studio To 2 Bedroom Rentals

Available Now

1008 Navaho Dr

RaleighNC27609

Discover Terrific Apartment Opportunities Near Raleigh’s Largest Employers

Moving to Raleigh for a new job? Discover top apartment rentals with short commutes near major employers like WakeMed, Fidelity, and Cisco Systems.

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Skyhouse Raleigh
Rent Specials
$973 - $2,643
Total Monthly Price

Total Monthly Price

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$973 - $2,643
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Varies
Studio to 3 Bedroom Apartments Available Now

Skyhouse Raleigh

308 S Blount StRaleigh, NC 27601
Furnished
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Sailboat Bay
$985 - $1,349
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$985 - $1,349
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1 to 2 Bedroom Apartments Available Now

Sailboat Bay

3221 Lynn Ridge RdRaleigh, NC 27613
Corporate Housing
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Bridgeport
Rent Specials
$952 - $1,555
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$952 - $1,555
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1 to 3 Bedroom Apartments Available Now

Bridgeport

4101 Lake Lynn DrRaleigh, NC 27613
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Raleigh's Best Affordable Neighborhoods

Learn about Raleigh and the best places to live with original content written by our , Local Expert Chris Munier

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Wedgwood Apartments
$999 - $1,819
Total Monthly Price

Total Monthly Price

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$999 - $1,819
Total Monthly Price
$999 - $1,819
Studio to 3 Bedroom Apartments Available Now

Wedgwood Apartments

740 Smallwood DrRaleigh, NC 27605
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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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Raleigh, NC Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 07/23/2026

Current apartment rentals in the Raleigh, NC area range in price from $574 to $11,164 with an overall median price of $2,282. The three Raleigh neighborhoods with the lowest median rent pricing are Bunn Lake Estates at $1,250, Stephenson at $750, and Camden Crossing at $574. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Bunn Lake Estates$1,350$1,2505
Stephenson$1,445$7503
Camden Crossing$1,515$57425
Trailside Commons$1,595$574132
University Suites$1,595$574110
Belle Aire Acres$1,595$1,2506
Hempstede$1,595$1,2506
Judd Saint Estates$1,595$1,2506
Ashlyn$1,645$1,050104
Parkland Hidden Creek$1,661$57480

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 1 Bed unit found at Olde School Commons in the Sandlin Branch neighborhood priced from $709. Tryon Flats Apartments in the Lakeside neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $750. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Olde School CommonsOSC 1/11BR,1BA$709
Tryon Flats ApartmentsA34BR,4BA$750
Terrace at Rock QuarryTwo bedroom 30%2BR,2BA$797
The Parke at Trinity Apartment HomesA11BR,1BA$836
Stanhope2x2 Shared2BR,2BA$845
The Grande at Granite Falls-Senior 62+ yearsTwo Bedroom2BR,1BA$875
Lake Lynn Reserve ApartmentsA2 - Pelican1BR,1BA$912
Westgrove Tower CondominiumsS1Studio,1BA$915
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$933

Best Value Apartments for Rent in Raleigh, NC

As of July 23, 2026 the best value apartment in the Raleigh area is the $0.39 price per square foot 4 Bedroom, 4.5 Bath Commons Model at Redpoint Raleigh in the in the Roylene Acres neighborhood starting from $905. The second greatest value Raleigh apartment is the 4BD/4BA Model at Village Green Student Housing starting at $839 with a $0.57 price per square foot in the University Suites neighborhood. Here is today’s list of the best values for Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Redpoint Raleigh4 Bedroom, 4.5 Bath Commons4BR,4.5BA$0.39
Village Green Student Housing4BD/4BA4BR,4BA$0.57
Tryon Flats ApartmentsA34BR,4BA$0.53
University Suites Student Housing3X33BR,3BA$0.58
1440 Collegiate Cir, Unit 1041440 Collegiate Cir4BR,4BA$0.46
Method Townhomes3BD / 3.5BA Townhome3BR,3.5BA$0.50
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.49
Centennial Village Student Housing3x33BR,3BA$0.49
Centennial Ridge Student Housing3x33BR,3BA$0.49
1820 at Centennial3x33BR,3BA$0.61

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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Top Neighborhoods Near Raleigh Colleges and Universities

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Raleigh, NC metro area for affordable living. Find your perfect Raleigh Student apartment, condo, or rental home today.

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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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Raleigh Overview

The capital city of the great state of North Carolina and a jewel of the east coast, Raleigh is one of the fastest-growing destinations in the entire nation. Taking its name from Sir Walter Raleigh and acting as home to a number of prestigious universities, Raleigh's effortless mix of southern charm and big city convenience meld to create a truly one-of-a-kind city. A wide variety of options for Raleigh apartments in neighborhoods all over the area make this city a wonderful place to move to.

Why live in Raleigh, NC?

From the nightlife excitement that lines the downtown scene to the large number of world-class eateries and art galleries, Raleigh has been a gem of North Carolina for decades. It's no coincidence that this dynamic and on-the-move destination boasts the title of state capital, effortlessly blending historic architecture with modern convenience. Raleigh has consistently made the list of 'best places to live' by a wide swath of distinguished media, including #1 by Businessweek and #3 by Forbes.

Raleigh, NC
Population: 469,298

Ranked #41

in US Census Population by City

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Raleigh, NC Rentals by Map

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See the most popular apartments and homes in Raleigh, NC

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Raleigh, NC Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Chris • 1+ years in Raleigh

February 27, 2025

It's an ideal spot for college students, young families, and business professionals. If you can tolerate some traffic jams periodically, then Raleigh's a terrific area in North Carolina.

Frequently Asked Questions about Cheap Raleigh Apartments

What is a cheap apartment in Raleigh?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Raleigh is under $933.

What is the price of a cheap apartment in Raleigh?

The cheapest apartment in Raleigh is Olde School Commons which is listed at $709, while the average apartment in Raleigh costs $2,282.

What types of apartments are the cheapest in Raleigh?

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 3,043 regular apartments in Raleigh 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 Raleigh?

Cheap apartments in Raleigh have an average cost of $532 which is $1,750 cheaper than the average rent for all rentals in Raleigh.

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.

Helpful Local Expert Guides

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Discover Raleigh, North Carolina: A Locals Take on the City of Oaks

Written by: Chris Munier

Greetings from Chris Munier, your resident expert on Raleigh, North Carolina. If you're thinking of moving to this central-NC community, then I’m here to help you scope out its top qualities.

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Discover Terrific Apartment Opportunities Near Raleighs Largest Employers

Written by: Chris Munier

Did you recently land a new job in Raleigh but can’t find a suitable place to live? This is a common issue for working professionals making career changes, especially in a transplant-heavy area like Raleigh.

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Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Raleigh

Written by: Chris Munier

Student apartments are not always easy to find in every location, but that’s not the case in the university-rich city of Raleigh, North Carolina.

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Raleigh

Written by: Chris Munier

Raleigh offers not only an exciting urban environment, the centerpiece of a thriving metro area, but it’s also affordable. That is, assuming you know where to rent.

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.

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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.

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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.