Cheap Apartments for Rent in the Downtown Raleigh Neighborhood of Raleigh, NC from $500 (282 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Raleigh area of 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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Skyhouse Raleigh
$998 - $2,608
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$998 - $2,608
Total Monthly Price
$998 - $2,608
Studio to 3 Bedroom Apartments Contact Us For Availability

Skyhouse Raleigh

308 S Blount StRaleigh, NC 27601
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Wedgwood Apartments
$999 - $1,819
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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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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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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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Brentmoor Apartments
Rent Specials
$1,097 - $1,797
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Base Rent
$1,097 - $1,797
Total Monthly Price
$1,097 - $1,797
1 to 3 Bedroom Apartments Available Now

Brentmoor Apartments

2080-2080 Brentmoor DrRaleigh, NC 27604
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Montecito
Rent Specials
$1,101 - $1,381
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Total Monthly Price

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$1,101 - $1,381
Total Monthly Price
$1,101 - $1,381
1 to 2 Bedroom Apartments Available Now

Montecito

3800 Colby DrRaleigh, NC 27609
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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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Downtown Raleigh, Raleigh, NC Local Guide

Cheapest Available Downtown Raleigh Apartments for Rent

 

The cheapest available apartment rental in the Downtown Raleigh area of Raleigh, NC is a 4 Beds unit found at Friendly105 Apartments priced from $625. Maxwell Raleigh has the second lowest priced unit, which is a 4 Beds apartment currently listed from $799. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Friendly105 ApartmentsLIMITED TIME, FREE MONTH SIGN BY 7/31! Fully Fu...4BR,4BA$625
Maxwell RaleighDerby - D94BR,4BA$799
Hub Raleigh4x2 Pod4BR,2BA$799
Stanhope2x2 Shared2BR,2BA$845
Woodall Apartments1402-K1BR,1BA$895

Best Value Apartments for Rent in Downtown Raleigh, NC

As of August 20, 2026 the best value apartment in the Downtown Raleigh area is the $0.48 price per square foot 4x4.5 Model at Redfield Villages in the in the Grove Park neighborhood starting from $899. The second greatest value Downtown Raleigh apartment is the 4x4 Model at University Village at 2505 starting at $799 with a $0.55 price per square foot in the University Suites neighborhood. Here is today’s list of the best values for Downtown Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Redfield Villages4x4.54BR,4.5BA$0.48
University Village at 25054x44BR,4BA$0.55
1440 Collegiate Cir, Unit 1041440 Collegiate Cir4BR,4BA$0.46
2021 Wolf Tech Ln, Unit 2042021 Wolf Tech Ln4BR,4BA$0.46
Method Townhomes3BD / 3.5BA Townhome3BR,3.5BA$0.51
3770 Pardue Woods Pl, Unit 3013770 Pardue Woods Pl3BR,3BA$0.48
1500 Graduate Ln, Unit 15001500 Graduate Ln4BR,4BA$0.48
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.49
Centennial Ridge Student Housing3x33BR,3BA$0.49
Centennial Village Student Housing3x33BR,3BA$0.49

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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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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Pet Friendly Lifestyle
Downtown Raleigh, Raleigh, NC

Ranked #1

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Raleigh, Raleigh, NC

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you Lifestyle Ratings of neighborhoods, cities, and rental properties across North Carolina including Downtown Raleigh, Raleigh, and the greater Raleigh area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Raleigh Apartments

What is a cheap apartment in Downtown Raleigh?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Raleigh is under $895.

What is the price of a cheap apartment in Downtown Raleigh?

The cheapest apartment in Downtown Raleigh is Woodall Apartments which is listed at $895, while the average apartment in Downtown Raleigh costs $1,655.

What types of apartments are the cheapest in Downtown 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 261 regular apartments in Downtown 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 Downtown Raleigh?

Cheap apartments in Downtown Raleigh have an average cost of $670 which is $985 cheaper than the average rent for all rentals in Downtown 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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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.