Cheap Homes for Rent in Downtown Raleigh Neighborhood of Raleigh, NC from $500 (74 Rentals)

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

property at 307 Kennedy St

307 Kennedy St

RaleighNC27610
property at 821 Hanbury Wy

821 Hanbury Wy

RaleighNC27607
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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 3 Beds unit found at Campus West at Tryon priced from $819. Arbor Creek has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here are the most affordable Downtown Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Campus West at Tryon3X33BR,3BA$819
Arbor Creek11A1BR,1BA$845
The Harrison ApartmentsStudio AStudio,1BA$853
Vivo Living North WoodsSTA - Studio AStudio,1BA$859
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
Oak City ApartmentsOne Bedroom1BR,1BA$875
The Retreat at Lake Johnson ApartmentsA1 - Dahlia1BR,1BA$894

Best Value Apartments for Rent in Downtown Raleigh, NC

As of November 02, 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 3 Bedroom, 3 BathTownhome Model at Redpoint Raleigh starting at $939 with a $0.67 price per square foot in the Roylene Acres 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
Redpoint Raleigh3 Bedroom, 3 BathTownhome3BR,3BA$0.67
Welcome to our luxurious apartment communityBedroom for rent, private bath, including utili...4BR,4BA$0.55
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Village Student Housing3x33BR,3BA$0.54
Centennial Ridge Student Housing3x33BR,3BA$0.54
1820 at Centennial3x33BR,3BA$0.82
Campus West at Tryon3X33BR,3BA$0.78
Village Green Student Housing2BD/2BA2BR,2BA$1.02
Method Townhomes2BD / 2.5BA Townhome2BR,2.5BA$0.89

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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 848 Apartments for Rent in Downtown Raleigh, NC with pricing that ranges from $625 to $8,381. There are also 399 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Raleigh ranging from $550 to $6,900.

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 $6,900 with an average monthly rent of $2,543.

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 $649 to $8,381, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,540 and Four Bedroom Apartments start at $780.

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.

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.

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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! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.