Cheap Homes for Rent in Raleigh, NC from $500 (190 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 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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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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Raleigh's Best Affordable Neighborhoods

Learn about Raleigh and the best places to live with original content written by our , Local Expert Chris Munier

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Raleigh, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 06/19/2025

Current apartment rentals in the Raleigh, NC area range in price from $470 to $9,305 with an overall median price of $2,506. The three Raleigh neighborhoods with the lowest median rent pricing are MacGregor at $975, Carlton Heights at $635, and College View at $635. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
MacGregor$975$9751
Carlton Heights$1,715$63565
College View$1,715$63592
Gorman$1,715$63575
Stonehenge$1,797$700192
Brandon Station$1,799$700163
Camden Park$1,818$699294
Springdale Estates$1,818$700244
Trailwood$1,823$470208
University Suites$1,823$470201

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 1 Bed unit found at Regency Park Apartment Homes in the East Raleigh neighborhood priced from $856. The Parke at Trinity Apartment Homes in the Beechtree neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $877. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Regency Park Apartment HomesA11BR,1BA$856
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
Bridges at North Hills1 Bed - 1 Bath1BR,1BA$923
Tree TopOak1BR,1BA$925
The FallsCapris FallsStudio,1BA$932

Best Value Apartments for Rent in Raleigh, NC

As of June 19, 2025 the best value apartment in the 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 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 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
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
Laurel Crossing Apartments2 Bed 2 Bath2BR,2BA$0.66
1820 at Centennial3x33BR,3BA$0.84

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

  • Parks
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  • Outdoor Access
  • Cost of Living
  • Safety

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 1496 Apartments for Rent in Raleigh, NC with pricing that ranges from $450 to $9,292. There are also 1118 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $575 to $7,595.

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 $575 to $7,595 with an average monthly rent of $2,348.

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 $820 to $9,292, while Three Bedroom Homes, Condos, and Townhomes for rent range from $650 to $4,095. 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.

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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.