Cheap Homes for Rent in Downtown Raleigh Neighborhood of Raleigh, NC from $500 (51 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Raleigh area of 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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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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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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property at 429 Rose Ln

$950

2 Bedroom, 1 Bath Home for Rent

Available Now

429 Rose Ln

RaleighNC27610

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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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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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 $857. Pine Hills Apartments 55+ has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. 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$857
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
The Harrison ApartmentsFurnished Studio A with Private BalconyStudio,1BA$896
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$897
Maxwell RaleighChelsea- Premium3BR,3BA$899
Westgrove Tower CondominiumsS1Studio,1BA$915
Sterling Glenwood ApartmentsStudio Classic with BalconyStudio,1BA$949

Best Value Apartments for Rent in Downtown Raleigh, NC

As of December 19, 2025 the best value apartment in the Downtown Raleigh area is the $0.91 price per square foot Entire Home Model at 1115 Marshall St in the in the Blount Street neighborhood starting from $4,000. The second greatest value Downtown Raleigh apartment is the 4x4 Model at University Village at 2505 starting at $815 with a $0.56 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.
1115 Marshall StEntire Home4BR,3.5BA$0.91
University Village at 25054x44BR,4BA$0.56
Redpoint Raleigh3 Bedroom, 3 BathTownhome3BR,3BA$0.70
3770 Pardue Woods Pl, Unit 3013770 Pardue Woods Pl3BR,3BA$0.48
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Village Student Housing3x33BR,3BA$0.58
Centennial Ridge Student Housing3x33BR,3BA$0.58
1820 at Centennial3x33BR,3BA$0.79
Campus West at Tryon3X33BR,3BA$0.78
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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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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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.

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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

Frequently Asked Questions about Downtown Raleigh

What type of rentals are currently available in Downtown Raleigh?

There are currently 858 Apartments for Rent in Downtown Raleigh, NC with pricing that ranges from $625 to $15,316. There are also 447 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Raleigh ranging from $550 to $6,500.

What is the current price range for Rental Homes in Downtown Raleigh?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Raleigh ranges from $550 to $6,500 with an average monthly rent of $2,552.

How much are larger Three and Four Bedroom Rentals in Downtown Raleigh?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Raleigh range from $625 to $15,316, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,100 to $4,500. Four Bedroom Single-Family rentals are also available starting from $650 and Four Bedroom Apartments start at $780.

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.

Articles, How-To's, and Tips

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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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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!