Cheap Homes for Rent in Raleigh, NC from $500 (145 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.

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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

1911 Wolftech Ln
RaleighNC27603

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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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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property at 1411 Collegiate Cir

$695

Total Monthly Price

Total Monthly Price

Base Rent
$695
Total Monthly Price
$695

1 Bedroom, 1 Bath Condo for Rent

Available Now

1411 Collegiate Cir

RaleighNC27606

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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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 Now

5102 Alercia Ct

RaleighNC27606

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Raleigh, NC Local Guide

Cheapest Neighborhoods for Apartments in Raleigh, NC

Pricing Updated: 07/05/2026

Current apartment rentals in the Raleigh, NC area range in price from $574 to $11,692 with an overall median price of $2,321. The three Raleigh neighborhoods with the lowest median rent pricing are Weatherly at $1,015, Belle Aire Acres at $1,145, and Bunn Lake Estates at $1,145. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Raleigh Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Weatherly$1,015$1,0151
Belle Aire Acres$1,275$1,1455
Bunn Lake Estates$1,275$1,1455
Hempstede$1,275$1,1455
Judd Saint Estates$1,275$1,1455
Stephenson$1,395$9952
Grove Park$1,399$69951
Carlton Heights$1,457$62561
College View$1,457$62585
Gorman$1,457$62576

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in Raleigh, NC is a 1 Bed unit found at Olde School Commons in the Sandlin Branch neighborhood priced from $709. Terrace at Rock Quarry in the East Raleigh neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $797. Here is today’s list of the most affordable Raleigh apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Olde School CommonsOSC 1/11BR,1BA$709
Terrace at Rock QuarryTwo bedroom 30%2BR,2BA$797
University Suites Student Housing3X33BR,3BA$799
Stanhope2x2 Shared2BR,2BA$845
Tree TopS1: 0 Bed 1 BathStudio,1BA$872
The Grande at Granite Falls-Senior 62+ yearsTwo Bedroom2BR,1BA$875
Westgrove Tower CondominiumsS1Studio,1BA$915
Overlooke at Simms Creek ApartmentsOne Bedroom One Bathroom 60%1BR,1BA$925
Anson at North HillsA11BR,1BA$942

Best Value Apartments for Rent in Raleigh, NC

As of July 06, 2026 the best value apartment in the Raleigh area is the $0.42 price per square foot 4 Bedroom, 4 Bath Townhome Model at Redpoint Raleigh in the in the Roylene Acres neighborhood starting from $899. The second greatest value Raleigh apartment is the 4x4.5 Model at Redfield Villages starting at $899 with a $0.48 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.
Redpoint Raleigh4 Bedroom, 4 Bath Townhome4BR,4BA$0.42
Redfield Villages4x4.54BR,4.5BA$0.48
Village Green Student Housing4BD/4BA4BR,4BA$0.57
University Suites Student Housing3X33BR,3BA$0.58
1440 Collegiate Cir, Unit 1041440 Collegiate Cir4BR,4BA$0.46
Method Townhomes3BD / 3.5BA Townhome3BR,3.5BA$0.50
Student Housing - Gorman Parkwood1 bd and 1 bath Student3BR,3BA$0.49
Centennial Village Student Housing3x33BR,3BA$0.49
Centennial Ridge Student Housing3x33BR,3BA$0.49
1820 at Centennial3x33BR,3BA$0.61

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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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
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  • 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 1666 Apartments for Rent in Raleigh, NC with pricing that ranges from $574 to $11,692. There are also 1313 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $500 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 $500 to $12,000 with an average monthly rent of $2,080.

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 $599 to $11,692, while Three Bedroom Homes, Condos, and Townhomes for rent range from $600 to $6,300. Four Bedroom Single-Family rentals are also available starting from $595 and Four Bedroom Apartments start at $574.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.