Cheap Apartments for Rent in the Lake Johnson Neighborhood of Raleigh, NC from $700 (12 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the Lake Johnson area of Raleigh.

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.

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.

close
View Me
Penwood Apartments
2 Bedroom Apartments

Penwood Apartments

5401-5445 Penwood DrRaleigh, NC 27606
  • Utilities Included

Lake Johnson, Raleigh, NC Local Guide

Cheapest Available Lake Johnson Apartments for Rent

 

The cheapest available apartment rental in the Lake Johnson area of Raleigh, NC is a 1 Bed unit found at Arbor Creek priced from $955. Westgrove Tower Condominiums has the second lowest priced unit, which is a 1 Bed apartment currently listed from $977. Here are the most affordable Lake Johnson apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Arbor Creek11B1BR,1BA$955
Westgrove Tower CondominiumsA2/A2R1BR,1BA$977
403 WestA11BR,1BA$1,033
Trailwood Crossing ApartmentsA1 - Bickmore1BR,1BA$1,037
Aurella CaryThe Camillia1BR,1BA$1,055

Best Value Apartments for Rent in Lake Johnson, NC

As of July 07, 2025 the best value apartment in the Lake Johnson 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 Lake Johnson apartment is the Three Bedroom Townhome Model at Orchard Pointe starting at $1,676 with a $1.28 price per square foot in the University Suites neighborhood. Here is today’s list of the best values for Lake Johnson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Paloma Raleigh5x5 Loft Private Access5BR,5BA$0.55
Orchard PointeThree Bedroom Townhome3BR,2BA$1.28
Ashborough ApartmentsThe Cezanne B4.22BR,2BA$1.35
Centennial Ridge Student Housing3x33BR,3BA$0.67
Madison Hunters GlenThe Magnolia2BR,2BA$1.30
Williamsburg Manor2 Bed 1.5 Bath Renovated WD2BR,1.5BA$1.27
Kensington ParkK2D2BR,1BA$1.35
Walnut Creek ApartmentsTwo Bedroom 1.5 Bathroom Townhome2BR,1.5BA$1.25
The Retreat at Lake Johnson ApartmentsB1 - Larkspur2BR,2BA$1.37
Trailwood Crossing ApartmentsA1 - Bickmore1BR,1BA$1.28

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Lake Johnson, Raleigh, NC

Ranked #37

Among neighborhoods in Raleigh, NC for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Getting Around the Lake Johnson Neighborhood in Raleigh, NC

Walk Score®

26 / 100

Car-Dependent

Most errands require a car

Bike Score®

25 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

31 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Lake Johnson Apartments

What is the price of a cheap apartment in Lake Johnson?

The cheapest apartment in Lake Johnson is Arbor Creek which is listed at $955, while the average apartment in Lake Johnson costs $1,913.

What types of apartments are the cheapest in Lake Johnson?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 49 regular apartments in Lake Johnson that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Lake Johnson?

Cheap apartments in Lake Johnson have an average cost of $363 which is $1,550 cheaper than the average rent for all rentals in Lake Johnson.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Raleigh article

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.