Cheap Apartments for Rent in the Lockwood Neighborhood of Raleigh, NC from $500 (27 Rentals)

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

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

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Stony Brook
Studio Apartments

Stony Brook

3001-3015 Lake Woodard DrRaleigh, NC 27604
  • Utilities Included

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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Walnut Woods Apartments
2 to 3 Bedroom Apartments

Walnut Woods Apartments

3417 Middle Branch RdRaleigh, NC 27610
  • Utilities Included
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Oakwood Apartments
2 Bedroom Apartments

Oakwood Apartments

705 N Boundary StRaleigh, NC 27604
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Duplex Village
2 Bedroom Apartments

Duplex Village

1900-2006 Hawkins StRaleigh, NC 27610
  • Utilities Included

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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Magnolia Square
1 Bedroom Apartments

Magnolia Square

511 E Martin StRaleigh, NC 27601
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Five Point Cottages
2 Bedroom Apartments

Five Point Cottages

2201-2223 Brewer StRaleigh, NC 27608
  • Utilities Included
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200 E Edenton St
1 to 2 Bedroom Apartments

200 E Edenton St

200 E Edenton StRaleigh, NC 27601
  • Utilities Included

Lockwood, Raleigh, NC Local Guide

Cheapest Available Lockwood Apartments for Rent

 

The cheapest available apartment rental in the Lockwood area of Raleigh, NC is a Studio unit found at Milner Commons priced from $875. The Harrison has the second lowest priced unit, which is a Studio apartment currently listed from $960. Here are the most affordable Lockwood apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Milner CommonsStudio - The WillowStudio,1BA$875
The HarrisonStudio BStudio,1BA$960
Northstone Apartments1BR/1BA1BR,1BA$1,075
Brentmoor ApartmentsOberlin1BR,1BA$1,099
Pines of AshtonAspen1BR,1BA$1,100
Capital Flats & Magnolia Square ApartmentsCF 1x1A1BR,1BA$1,130
The WaverlyEdinburgh1BR,1BA$1,142
Elan City CenterA1Studio,1BA$1,143
Longview Village Apartments1 Bedroom, 1 Bathroom1BR,1BA$1,147
Skyhouse RaleighS4Studio,1BA$1,183

Best Value Apartments for Rent in Lockwood, NC

As of June 13, 2025 the best value apartment in the Lockwood area is the $1.46 price per square foot 201 Model at Capital Apartments in the in the Blount Street neighborhood starting from $1,875. The second greatest value Lockwood apartment is the 2 Bed 2 Bath Model at 1401 Coopershill Drive starting at $2,100 with a $1.66 price per square foot in the Lakemont neighborhood. Here is today’s list of the best values for Lockwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Capital Apartments2012BR,1BA$1.46
1401 Coopershill Drive2 Bed 2 Bath2BR,2BA$1.66
Broadstone Oak CityB22BR,2BA$1.71
Sunnybrook Pointe2 Bed 2 Bath2BR,2BA$1.38
The WaverlyEdinburgh1BR,1BA$1.26
Jones Grant Urban FlatsA21BR,1BA$1.68
Northstone Apartments1BR/1BA1BR,1BA$1.31
Cortland Midtown EastWheat1BR,1BA$1.95
Infinity Six ForksThe Belmont1BR,1BA$1.94
Brentmoor ApartmentsOberlin1BR,1BA$1.50

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Pet Friendly Lifestyle
Lockwood, Raleigh, NC

Ranked #44

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

This website compiles millions of data points to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Raleigh, North Carolina. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, transit availability, pet-friendly communities, features that make it easier to raise kids, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Lockwood Apartments

What is a cheap apartment in Lockwood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lockwood is under $1,183.

What is the price of a cheap apartment in Lockwood?

The cheapest apartment in Lockwood is Milner Commons which is listed at $1,060, while the average apartment in Lockwood costs $2,345.

What types of apartments are the cheapest in Lockwood?

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 21 regular apartments in Lockwood 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 Lockwood?

Cheap apartments in Lockwood have an average cost of $348 which is $1,997 cheaper than the average rent for all rentals in Lockwood.

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.