Cheap Homes for Rent in Downtown Raleigh Neighborhood of Raleigh, NC from $500 (68 Rentals)

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Search the lowest-cost Homes 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

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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property at 709 Cumberland St

709 Cumberland St

RaleighNC27610
property at 663 Coleman St

663 Coleman St

RaleighNC27610
property at 710 Coleman St

710 Coleman St

RaleighNC27610

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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property at 4701 Brockton Dr

4701 Brockton Dr

RaleighNC27604

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 Studio unit found at Westgrove Tower Condominiums priced from $895. Vivo Living North Woods has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Westgrove Tower CondominiumsS1Studio,1BA$895
Vivo Living North WoodsStudio AStudio,1BA$899
1820 at Centennial4x44BR,4BA$900
Arbor Creek11A1BR,1BA$925
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$937
Pullen Station LoftsStudioStudio,1BA$950
The Parke at Trinity Apartment HomesA11BR,1BA$955
The GroveA1 - The Mirlen1BR,1BA$969

Best Value Apartments for Rent in Downtown Raleigh, NC

As of June 24, 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

Quick Rent Budget Calculator

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Frequently Asked Questions about Downtown Raleigh

What type of rentals are currently available in Downtown Raleigh?

There are currently 835 Apartments for Rent in Downtown Raleigh, NC with pricing that ranges from $470 to $9,292. There are also 342 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Raleigh ranging from $575 to $5,500.

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 $575 to $5,500 with an average monthly rent of $1,958.

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 $820 to $9,292, while Three Bedroom Homes, Condos, and Townhomes for rent range from $725 to $4,500. Four Bedroom Single-Family rentals are also available starting from $685 and Four Bedroom Apartments start at $470.

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.