Cheap Homes for Rent in Raleigh, NC from $400 (153 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

property at 1220 University Ct

$600

Total Monthly Price

Total Monthly Price

Base Rent
$600

Total Monthly Price
$600

1 Bedroom, 1 Bath Condo for Rent

Available Now

1220 University Ct, Unit 102, Unit 102

1220 University Ct
RaleighNC27606

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.

property at 1911 Wolftech Ln

$625

Total Monthly Price

Total Monthly Price

Base Rent
$625

Total Monthly Price
$625

1 Bedroom, 1 Bath Condo for Rent

Available Now

1911 Wolftech Ln, Unit 104, Unit 104

1911 Wolftech Ln
RaleighNC27603

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.

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.

property at 5102 Alercia Ct

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700

Total Monthly Price
$700

4 Bedroom, 3 Bath Townhome for Rent

Available Jun 1

5102 Alercia Ct

RaleighNC27606

Discover Raleigh, North Carolina: A Local's Take on the City of Oaks

Explore Raleigh's vibrant culture, from the best outdoor trails and museums to a comprehensive guide on the area's top-rated restaurants and nightlife, including the Warehouse District.

Raleigh, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 05/17/2026

Current apartment rentals in the Raleigh, NC area range in price from $620 to $12,734 with an overall median price of $2,283. The three Raleigh neighborhoods with the lowest median rent pricing are Belle Aire Acres at $1,270, Bunn Lake Estates at $1,275, and Hempstede at $1,270. 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$1,2703
Bunn Lake Estates$1,275$1,2751
Hempstede$1,275$1,2703
Judd Saint Estates$1,275$1,2703
Stephenson$1,295$1,0952
Grove Park$1,399$79948
Camden Crossing$1,530$62021
Tupper$1,547$98912
Carlton Heights$1,575$62573
College View$1,575$625116

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 1 Bed unit found at The Terrace at Rock Quarry in the East Raleigh neighborhood priced from $664. Olde School Commons in the Sandlin Branch neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $709. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Terrace at Rock QuarryOne bedroom 30%1BR,1BA$664
Olde School CommonsOSC 1/11BR,1BA$709
900 Newcombe Rd1/11BR,1BA$710
The GroveA1 - The Mirlen1BR,1BA$817
Stanhope2x2 Shared2BR,2BA$845
Bridges at North HillsStudioStudio,1BA$877
Tree TopCedarStudio,1BA$913
Westgrove Tower CondominiumsS1Studio,1BA$915
Lexington on the GreenA21BR,1BA$919
Aria North HillsThe Heron1BR,1BA$925

Best Value Apartments for Rent in Raleigh, NC

As of May 18, 2026 the best value apartment in the Raleigh area is the $0.48 price per square foot 4x4.5 Model at Redfield Villages in the in the Grove Park neighborhood starting from $899. The second greatest value Raleigh apartment is the 3 Bedroom, 3 BathTownhome Model at Redpoint Raleigh starting at $995 with a $0.71 price per square foot in the Roylene Acres 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.
Redfield Villages4x4.54BR,4.5BA$0.48
Redpoint Raleigh3 Bedroom, 3 BathTownhome3BR,3BA$0.71
Yugo Raleigh Logan4 Bed, 4 Bath Courtyard4BR,4BA$0.88
Method Townhomes3BD / 3.5BA Townhome3BR,3.5BA$0.54
Tryon Flats – Modern Student Living Near NC StateA24BR,4BA$0.67
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.49
Centennial Village Student Housing3x33BR,3BA$0.59
Centennial Ridge Student Housing3x33BR,3BA$0.59
1820 at Centennial3x33BR,3BA$0.81
Olde School CommonsOSC 1/11BR,1BA$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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
Population: 469,298

Ranked #41

in US Census Population by City

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Raleigh, NC Rentals by Map

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Raleigh, NC Area Reviews

  • Parks
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Chris1+ 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 1578 Apartments for Rent in Raleigh, NC with pricing that ranges from $620 to $12,734. There are also 1080 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $470 to $12,000.

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 $470 to $12,000 with an average monthly rent of $2,002.

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 $625 to $9,930, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,095 to $8,500. Four Bedroom Single-Family rentals are also available starting from $595 and Four Bedroom Apartments start at $620.

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.

Helpful Local Expert Guides

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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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Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Raleigh

Written by: Chris Munier

Student apartments are not always easy to find in every location, but that’s not the case in the university-rich city of Raleigh, North Carolina.

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Discover Terrific Apartment Opportunities Near Raleighs Largest Employers

Written by: Chris Munier

Did you recently land a new job in Raleigh but can’t find a suitable place to live? This is a common issue for working professionals making career changes, especially in a transplant-heavy area like Raleigh.

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Discover Raleigh, North Carolina: A Locals Take on the City of Oaks

Written by: Chris Munier

Greetings from Chris Munier, your resident expert on Raleigh, North Carolina. If you're thinking of moving to this central-NC community, then I’m here to help you scope out its top qualities.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.