Cheap Apartments for Rent in the Downtown Raleigh Neighborhood of Raleigh, NC from $400 (217 Rentals)

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

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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The Art of the Rental Viewing: What to look for during a property tour

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Downtown Raleigh - One of the Best Affordable Neighborhoods in Raleigh

Named as one of the Best Affordable Neighborhoods to rent in Raleigh by our , Local Expert Chris Munier. See how it ranks!

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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 1 Bed unit found at The Parke at Trinity Apartment Homes priced from $877. Westgrove Tower Condominiums has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
The Parke at Trinity Apartment HomesA11BR,1BA$877
Westgrove Tower CondominiumsS1Studio,1BA$895
Vivo Living North WoodsStudio AStudio,1BA$899
1820 at Centennial4x44BR,4BA$900
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$937
Pullen Station LoftsStudioStudio,1BA$950
Tree TopCedarStudio,1BA$951
Arbor Creek11B1BR,1BA$955

Best Value Apartments for Rent in Downtown Raleigh, NC

As of June 21, 2025 the best value apartment in the Downtown Raleigh area is the $0.55 price per square foot 5x5 Loft Private Access Model at Paloma Raleigh in the in the Roylene Acres neighborhood starting from $959. The second greatest value Downtown Raleigh apartment is the Four Bedrooms Model at Stanhope starting at $1,250 with a $0.79 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.
Paloma Raleigh5x5 Loft Private Access5BR,5BA$0.55
StanhopeFour Bedrooms4BR,4BA$0.79
University Village at 25054x44BR,4BA$0.56
Yugo Raleigh Logan4 Bed, 4 Bath Plus4BR,4BA$0.88
Welcome to our luxurious apartment communityRented by the bedroom including utilities. Clos...4BR,4BA$0.67
Campus Edge3x3 Platinum3BR,3BA$0.72
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Village Student Housing3x33BR,3BA$0.67
Centennial Ridge Student Housing3x33BR,3BA$0.67
1820 at Centennial3x33BR,3BA$0.84

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Pet Friendly Lifestyle
Downtown Raleigh, Raleigh, NC

Ranked #5

Among neighborhoods in Raleigh, NC 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 $955.

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

The cheapest apartment in Downtown Raleigh is The Parke at Trinity Apartment Homes which is listed at $877, while the average apartment in Downtown Raleigh costs $2,565.

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 131 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 $595 which is $1,970 cheaper than the average rent for all rentals in Downtown Raleigh.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.