Cheap Homes for Rent in Raleigh, NC from $500 (185 Rentals)

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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.

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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, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 01/01/2026

Current apartment rentals in the Raleigh, NC area range in price from $500 to $8,000 with an overall median price of $3,374. The three Raleigh neighborhoods with the lowest median rent pricing are Buffalo Creek at $1,520, Lincoln Villas at $1,375, and Camden Crossing at $595. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Buffalo Creek$1,525$1,5201
Lincoln Villas$1,750$1,37519
Camden Crossing$1,795$59516
Riverwood$1,800$1,7992
Flowers Plantation$1,850$1,6506
Bedford At Falls River$1,895$1,6008
Briarcliff$1,900$87515
Weston$1,944$7923
Carolina Pines$1,950$52565
Robinwood$1,990$52549

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. Pine Hills Apartments 55+ in the Oakwood neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. 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
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
The Harrison ApartmentsStudio A with Private BalconyStudio,1BA$896
The Trails of North Hills1 Bedroom 1 Bath - A1BR,1BA$897
The Oaks Apartments1 Bedoom 1 Bathoom1BR,1BA$899
Maxwell RaleighChelsea- Premium3BR,3BA$899

Best Value Apartments for Rent in Raleigh, NC

As of January 01, 2026 the best value apartment in the Raleigh area is the $0.56 price per square foot 4x4 Model at University Village at 2505 in the in the University Suites neighborhood starting from $815. The second greatest value Raleigh apartment is the 3 Bedroom, 3 BathTownhome Model at Redpoint Raleigh starting at $975 with a $0.70 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.
University Village at 25054x44BR,4BA$0.56
Redpoint Raleigh3 Bedroom, 3 BathTownhome3BR,3BA$0.70
3770 Pardue Woods Pl, Unit 3013770 Pardue Woods Pl3BR,3BA$0.48
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.57
Centennial Ridge Student Housing3x33BR,3BA$0.58
Centennial Village Student Housing3x33BR,3BA$0.58
Laurel Crossing Apartments2 Bed 2 Bath2BR,2BA$0.66
1820 at Centennial3x33BR,3BA$0.79
Campus West at Tryon3X33BR,3BA$0.78
Method Townhomes2BD / 2.5BA Townhome2BR,2.5BA$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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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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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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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
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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See the most popular apartments and homes in Raleigh, NC

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Raleigh, NC Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • 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 1542 Apartments for Rent in Raleigh, NC with pricing that ranges from $450 to $10,164. There are also 1278 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $520 to $8,000.

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 $520 to $8,000 with an average monthly rent of $2,867.

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 $10,164, while Three Bedroom Homes, Condos, and Townhomes for rent range from $700 to $5,000. Four Bedroom Single-Family rentals are also available starting from $750 and Four Bedroom Apartments start at $780.

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.

Articles, How-To's, and Tips

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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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.