Cheap Apartments for Rent in the Lockwood Neighborhood of Raleigh, NC from $500 (33 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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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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Stony Brook
Studio to 3 Bedroom Apartments

Stony Brook

3001-3015 Lake Woodard DrRaleigh, NC 27604
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Autumn Spring Apartments
1 to 2 Bedroom Apartments

Autumn Spring Apartments

3601 Eck DrRaleigh, NC 27604
Senior Living
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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

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Cedar Moor
2 to 3 Bedroom Apartments

Cedar Moor

2410-2559 Melvid CtRaleigh, NC 27610
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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
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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

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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 The Harrison Apartments priced from $853. Pine Hills Apartments 55+ has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here are the most affordable Lockwood apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
The Harrison ApartmentsStudio AStudio,1BA$853
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$875
Brentmoor ApartmentsOberlin1BR,1BA$985
Greenway Flats ApartmentsStudioStudio,1BA$995
Pines of AshtonAspen1BR,1BA$1,050
Northstone Apartments1BR/1BA1BR,1BA$1,075
Longview Village Apartments1 Bedroom, 1 Bathroom1BR,1BA$1,097
The WaverlyEdinburgh1BR,1BA$1,100
Capital Flats & Magnolia Square ApartmentsCF 1x1A1BR,1BA$1,100

Best Value Apartments for Rent in Lockwood, NC

As of November 06, 2025 the best value apartment in the Lockwood area is the $0.91 price per square foot Entire Home Model at 1115 Marshall St in the in the Blount Street neighborhood starting from $4,000. The second greatest value Lockwood apartment is the 201 Model at Capital Apartments starting at $1,725 with a $1.35 price per square foot in the Blount Street 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.
1115 Marshall StEntire Home4BR,3.5BA$0.91
Capital Apartments2012BR,1BA$1.35
The Mordecai on Clover2 BR 1.5 BA TOWNHOME2BR,1.5BA$1.24
The WaverlyWindsor2BR,2BA$1.23
Sunnybrook Pointe1 Bed 1 Bath1BR,1BA$1.50
Northstone Apartments1BR/1BA1BR,1BA$1.31
Brentmoor ApartmentsGlenwood1BR,1BA$1.46
Broadstone Oak CityA21BR,1BA$1.65
900 Moses Ct, Unit 901B900 Moses Ct1BR,1BA$1.50
Pine Hills Apartments 55+One Bedroom Floor Plan1BR,1BA$1.55

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Pet Friendly Lifestyle
Lockwood, Raleigh, NC

Ranked #62

Among cities in North Carolina 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 $1,100.

What is the price of a cheap apartment in Lockwood?

The cheapest apartment in Lockwood is Pine Hills Apartments 55+ which is listed at $875, while the average apartment in Lockwood costs $4,000.

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 23 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 $262 which is $3,738 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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.