Cheap Apartments for Rent in Raleigh, NC from $400 (573 Rentals)

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

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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Sailboat Bay
$950 - $1,411
Total Monthly Price

Total Monthly Price

Base Rent
$924 - $1,385
Required Monthly Fees
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Total Monthly Price
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1 to 2 Bedroom Apartments Available Now

Sailboat Bay

3221 Lynn Ridge RdRaleigh, NC 27613
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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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
$1,009 - $2,694
Total Monthly Price

Total Monthly Price

Base Rent
$973 - $2,658
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Skyhouse Raleigh

308 S Blount StRaleigh, NC 27601
Furnished
  • Verified
  • Customer Reviewed
  • 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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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: 03/12/2026

Current apartment rentals in the Raleigh, NC area range in price from $595 to $11,232 with an overall median price of $2,382. The three Raleigh neighborhoods with the lowest median rent pricing are Stephenson at $1,225, Belle Aire Acres at $1,270, and Hempstede at $1,270. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Stephenson$1,225$1,2251
Belle Aire Acres$1,270$1,2701
Hempstede$1,270$1,2701
Judd Saint Estates$1,270$1,2701
Camden Crossing$1,515$59539
North Farms$1,650$900219
Trailside Commons$1,658$595195
University Suites$1,662$595176
Parkland Hidden Creek$1,676$595185
Ashebrook$1,693$823265

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 2 Beds unit found at Stanhope in the Grove Park neighborhood priced from $845. Overlooke at Simms Creek Apartments in the East Raleigh neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Stanhope2x2 Shared2BR,2BA$845
Overlooke at Simms Creek ApartmentsOne Bedroom One Bathroom 60%1BR,1BA$850
The TimbersA1 One Bed One Bath1BR,1BA$854
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
Maxwell RaleighChelsea- Premium3BR,3BA$899
Lexington on the GreenA11BR,1BA$900
Bridges at North HillsStudioStudio,1BA$900
The GroveA1 - The Mirlen1BR,1BA$913
Westgrove Tower CondominiumsS1Studio,1BA$915
Lynnwood ParkThe Alexander1BR,1BA$926

Best Value Apartments for Rent in Raleigh, NC

As of March 12, 2026 the best value apartment in the Raleigh area is the $0.56 price per square foot 4x4 Model at University Village at 2505 in the in the University Suites neighborhood starting from $815. The second greatest value Raleigh apartment is the 3 Bedroom, 3 BathTownhome Model at Redpoint Raleigh starting at $995 with a $0.71 price per square foot in the Roylene Acres 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.
University Village at 25054x44BR,4BA$0.56
Redpoint Raleigh3 Bedroom, 3 BathTownhome3BR,3BA$0.71
Welcome to our luxurious apartment community near NC State University in Raleigh, NC!A24BR,4BA$0.67
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Village Student Housing3x33BR,3BA$0.59
Centennial Ridge Student Housing3x33BR,3BA$0.59
1820 at Centennial3x33BR,3BA$0.81
Campus West at Tryon3X33BR,3BA$0.76
Village Green Student Housing2BD/2BA2BR,2BA$1.02
Method Townhomes2BD / 2.5BA Townhome2BR,2.5BA$0.89

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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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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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
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  • Local Vibes
  • Restaurants
  • Location
  • Traffic
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  • 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 $926.

What is the price of a cheap apartment in Raleigh?

The cheapest apartment in Raleigh is Overlooke at Simms Creek Apartments which is listed at $850, while the average apartment in Raleigh costs $2,382.

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 7,613 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 $522 which is $1,860 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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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.

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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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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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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.

Articles, How-To's, and Tips

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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.