Cheap Homes for Rent in Raleigh, NC from $500 (169 Rentals)

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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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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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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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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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Raleigh, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 07/31/2025

Current apartment rentals in the Raleigh, NC area range in price from $470 to $9,575 with an overall median price of $2,467. The three Raleigh neighborhoods with the lowest median rent pricing are Belle Aire Acres at $1,275, Bunn Lake Estates at $1,275, and Hempstede at $1,275. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Belle Aire Acres$1,275$1,2754
Bunn Lake Estates$1,275$1,2754
Hempstede$1,275$1,2754
Judd Saint Estates$1,275$1,2754
Buffalo Creek$1,605$1,33924
Sandlin Branch$1,740$1,075114
Poole Farms$1,745$1,29926
Trailside Commons$1,752$470127
University Suites$1,752$470113
North Farms$1,771$799141

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 2 Beds unit found at Laurel Crossing Apartments in the East Raleigh neighborhood priced from $764. The Oaks Apartments in the East Raleigh neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Laurel Crossing Apartments2 Bed 2 Bath2BR,2BA$764
The Oaks Apartments1 Bedoom 1 Bathoom1BR,1BA$799
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
Vivo Living North WoodsStudio AStudio,1BA$899
Arbor Creek11B1BR,1BA$915
Westgrove Tower CondominiumsS1Studio,1BA$915
Triangle Park Apartments1 Bedroom 1 Bath1BR,1BA$930
The Parke at Trinity Apartment HomesA11BR,1BA$949

Best Value Apartments for Rent in Raleigh, NC

As of July 31, 2025 the best value apartment in the Raleigh area is the $1.13 price per square foot Balsam Model at Houndswood Village in the in the South Durham neighborhood starting from $2,695. The second greatest value Raleigh apartment is the 3 Bedroom 2.5 Bath Townhome Model at The Trails of North Hills starting at $1,511 with a $1.10 price per square foot in the Copper Ridge neighborhood. Here is today’s list of the best values for Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Houndswood VillageBalsam3BR,3.5BA$1.13
The Trails of North Hills3 Bedroom 2.5 Bath Townhome3BR,2.5BA$1.10
Welcome to our luxurious apartment communityRented by the bedroom including utilities. Clos...4BR,4BA$0.67
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
Village of PickwickThe Edinburgh Townhome2BR,1.5BA$1.10
Northridge CrossingsThe Pullman2BR,2BA$1.16
Laurel Crossing Apartments2 Bed 2 Bath2BR,2BA$0.66
Village Green Student Housing2BD/2BA2BR,2BA$1.06

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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Raleigh, NC Area Reviews

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Chris • 1+ years in Raleigh

February 27, 2025

It's an ideal spot for college students, young families, and business professionals. If you can tolerate some traffic jams periodically, then Raleigh's a terrific area in North Carolina.

Frequently Asked Questions about Raleigh

What type of rentals are currently available in Raleigh?

There are currently 1518 Apartments for Rent in Raleigh, NC with pricing that ranges from $450 to $9,575. There are also 1197 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $265 to $7,245.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Raleigh ranges from $265 to $7,245 with an average monthly rent of $2,272.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Raleigh range from $649 to $9,575, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $4,495. Four Bedroom Single-Family rentals are also available starting from $800 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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.