Cheap Apartments for Rent in the Silver Lake Neighborhood of Raleigh, NC from $400 (30 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Silver Lake 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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Penwood Apartments
2 Bedroom Apartments

Penwood Apartments

5401-5445 Penwood DrRaleigh, NC 27606
  • Utilities Included
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1820 at Centennial
3 to 4 Bedroom Apartments

1820 at Centennial

1820 Trailwood DrRaleigh, NC 27606
Student Housing
  • Utilities Included
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Silver Lake, Raleigh, NC Local Guide

Cheapest Available Silver Lake Apartments for Rent

 

The cheapest available apartment rental in the Silver Lake area of Raleigh, NC is a 4 Beds unit found at 1820 at Centennial priced from $900. Trailwood Crossing Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,002. Here are the most affordable Silver Lake apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
1820 at Centennial4x44BR,4BA$900
Trailwood Crossing ApartmentsA1 - Bickmore1BR,1BA$1,002
The Retreat at Lake Johnson ApartmentsA1 - Dahlia1BR,1BA$1,051
Aurella CaryThe Camillia1BR,1BA$1,115
Amberwood at LochmereRedbud1BR,1BA$1,190
Woodcreek ApartmentsThe Lakehurst1BR,1BA$1,206
Bell Jones FranklinA1A1BR,1BA$1,225

Best Value Apartments for Rent in Silver Lake, NC

As of June 28, 2025 the best value apartment in the Silver Lake area is the $0.72 price per square foot 3x3 Platinum Model at Campus Edge in the in the Lakeside neighborhood starting from $935. The second greatest value Silver Lake apartment is the 3x3 Model at Centennial Village Student Housing starting at $809 with a $0.67 price per square foot in the Lakeside neighborhood. Here is today’s list of the best values for Silver Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Campus Edge3x3 Platinum3BR,3BA$0.72
Centennial Village Student Housing3x33BR,3BA$0.67
1820 at Centennial3x33BR,3BA$0.84
Williamsburg Manor2 Bed 1.5 Bath Renovated WD2BR,1.5BA$1.27
The Franklin at CrossroadsB32BR,2BA$1.52
Gorman Crossings2B2BR,1.5BA$1.43
AXIS CrossroadsA21BR,1BA$1.51
Remington PlaceFairfield I1BR,1BA$1.48
1513 Leanne Ct, Unit 11513 Leanne Ct1BR,1BA$1.43
Trailwood Crossing ApartmentsA1 - Bickmore1BR,1BA$1.24

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Pet Friendly Lifestyle
Silver Lake, Raleigh, NC

Ranked #89

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Silver Lake, Raleigh, NC

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, metropolitan areas, and rental properties across North Carolina including Silver Lake, Raleigh, and the greater Raleigh area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for the best proximity to parks and outdoor amenities, luxury amenities, pet-friendly features, apartment communities for the kids, proximity to transit, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Silver Lake Apartments

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

The cheapest apartment in Silver Lake is Trailwood Crossing Apartments which is listed at $1,002, while the average apartment in Silver Lake costs $1,948.

What types of apartments are the cheapest in Silver Lake?

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 17 regular apartments in Silver Lake 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 Silver Lake?

Cheap apartments in Silver Lake have an average cost of $124 which is $1,824 cheaper than the average rent for all rentals in Silver Lake.

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.