Cheap Apartments for Rent in the Downtown Raleigh Neighborhood of Raleigh, NC from $500 (261 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
2002 Technology Woods Dr
$620
Total Monthly Price

Total Monthly Price

Base Rent
$620
Total Monthly Price
$620
1 to 4 Bedroom Apartment Available Now

2002 Technology Woods Dr

2002 Technology Woods DrRaleigh, NC 27603
Cost Per Sq.Ft.

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.

Read Article

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.

Read Article
close
View Me
Concord Apartments
$1,021 - $2,139
Total Monthly Price

Total Monthly Price

Base Rent
$1,021 - $2,139
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Concord Apartments

3920 Knickerbocker PkyRaleigh, NC 27612
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
Skyhouse Raleigh
Rent Specials
$1,038 - $2,642
Total Monthly Price

Total Monthly Price

Base Rent
$1,038 - $2,642
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
close
View Me
403 West
Rent Specials
$1,093 - $2,370
Total Monthly Price

Total Monthly Price

Base Rent
$1,093 - $2,370
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

403 West

403 Wolf Creek CirRaleigh, NC 27606
Work From Home
  • 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.

Read Article
close
View Me
Montecito
Rent Specials
$1,101 - $1,411
Total Monthly Price

Total Monthly Price

Base Rent
$1,101 - $1,411
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Montecito

3800 Colby DrRaleigh, NC 27609
Affordability
  • Verified
  • Customer Reviewed
close
View Me
Brentwood West
$1,108 - $1,343
Total Monthly Price

Total Monthly Price

Base Rent
$1,108 - $1,343
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Brentwood West

3800-3839 Brentwood RdRaleigh, NC 27604
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
Showing Results 1-50, Page 1 of 6

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 2 Beds unit found at Terrace at Rock Quarry priced from $797. University Suites Student Housing has the second lowest priced unit, which is a 3 Beds apartment currently listed from $799. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Terrace at Rock QuarryTwo bedroom 30%2BR,2BA$797
University Suites Student Housing3X33BR,3BA$799
Stanhope2x2 Shared2BR,2BA$845
Tree TopS1: 0 Bed 1 BathStudio,1BA$872
Westgrove Tower CondominiumsS1Studio,1BA$915
The DistrictThe Gray FoxStudio,1BA$945
Pullen Station LoftsStudioStudio,1BA$950
1105 Flats at North HillsA1-IR1BR,1BA$950
The GroveA1 - The Grove1BR,1BA$993

Best Value Apartments for Rent in Downtown Raleigh, NC

As of July 05, 2026 the best value apartment in the Downtown Raleigh area is the $0.42 price per square foot 4 Bedroom, 4 Bath Townhome Model at Redpoint Raleigh in the in the Roylene Acres neighborhood starting from $899. The second greatest value Downtown Raleigh apartment is the 4x4.5 Model at Redfield Villages starting at $899 with a $0.48 price per square foot in the Grove Park 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.
Redpoint Raleigh4 Bedroom, 4 Bath Townhome4BR,4BA$0.42
Redfield Villages4x4.54BR,4.5BA$0.48
Village Green Student Housing4BD/4BA4BR,4BA$0.57
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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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 $993.

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

The cheapest apartment in Downtown Raleigh is 1105 Flats at North Hills which is listed at $950, while the average apartment in Downtown Raleigh costs $1,998.

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 116 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 $712 which is $1,286 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

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

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.

decorative image for Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Raleigh article

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.

decorative image for Discover Terrific Apartment Opportunities Near Raleighs Largest Employers article

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.

decorative image for Discover Raleigh, North Carolina: A Locals Take on the City of Oaks article

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

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.