Cheap Apartments for Rent in the South Raleigh Neighborhood of Raleigh, NC from $460 (76 Rentals)

How Many Bedrooms?Done
Price OptionsDone
Price Range
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 2011 Wolfmill Dr
$625

Total Monthly Price

Base Rent$625

Total Monthly Price$625
4 Bedroom, 4 Bath Condo for Rent
Available Now
Cost Per Sq.Ft.

2011 Wolfmill Dr, Unit 104

2011 Wolfmill Dr
RaleighNC27603
  • Smoke Free

Discover Raleigh, North Carolina: A Local's Take on the City of Oaks

Explore Raleigh's vibrant culture, from the best outdoor trails and museums to a comprehensive guide on the area's top-rated restaurants and nightlife, including the Warehouse District.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

property at 2513 Laurel Falls Ln
$750

Total Monthly Price

Base Rent$750

Total Monthly Price$750
1 Bedroom, 1 Bath Home for Rent
Available Now
Furnished

2513 Laurel Falls Ln

RaleighNC27603
property at 5600 Preveza Pl
$775
1 Bedroom, 1 Bath Townhome for Rent
Available Now

5600 Preveza Pl

RaleighNC27603
property at 1911 Wolftech Ln
$795

Total Monthly Price

Base Rent$795

Total Monthly Price$795
4 Bedroom, 4 Bath Condo for Rent
Available Nov 1
Cost Per Sq.Ft.

1911 Wolftech Ln, Unit 302

1911 Wolftech Ln
RaleighNC27603

Discover Terrific Apartment Opportunities Near Raleigh’s Largest Employers

Moving to Raleigh for a new job? Discover top apartment rentals with short commutes near major employers like WakeMed, Fidelity, and Cisco Systems.

close
View Me
Olde Towne Residences
Rent Specials
$1,147 - $1,837

Total Monthly Price

Base Rent$1,147 - $1,837

Total Monthly PriceVaries
1 to 3 Bedroom Apartments Available Now

Olde Towne Residences

2301 Ostracod LnRaleigh, NC 27610
Active Lifestyle
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 2021 Wolf Tech Ln
$575 - $675
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

2021 Wolf Tech Ln

RaleighNC27603
close
View Me
Elders Peak
1 to 2 Bedroom Apartments

Elders Peak

2917 Creech RdRaleigh, NC 27610
Senior Living
  • Utilities Included

Raleigh's Best Affordable Neighborhoods

Learn about Raleigh and the best places to live with original content written by our , Local Expert Chris Munier

close
View Me
900 Newcombe Rd
1 Bedroom Apartments

900 Newcombe Rd

900 Newcombe RdRaleigh, NC 27610
Furnished
close
View Me
Penwood Apartments
1 to 3 Bedroom Apartments

Penwood Apartments

5401-5445 Penwood DrRaleigh, NC 27606
  • Utilities Included
close
View Me
Tryon Grove
2 to 3 Bedroom Apartments

Tryon Grove

2500-2516 Tryon Grove DrRaleigh, NC 27603
close
View Me
Cosmo & Lewis Estates
Studio to 1 Bedroom Apartments

Cosmo & Lewis Estates

1117-1129 Hadley RdRaleigh, NC 27610
  • Utilities Included

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.

South Raleigh, Raleigh, NC Local Guide

Cheapest Available South Raleigh Apartments for Rent

 

The cheapest available apartment rental in the South Raleigh area of Raleigh, NC is a 1 Bed unit found at Olde School Commons priced from $709. Villas on 55 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $995. Here are the most affordable South Raleigh apartments for rent in Raleigh, NC:

Apartment ListingModel NameBed/BathPriced From
Olde School CommonsOSC 1/11BR, 1BA$709
Villas on 55v1x11BR, 1BA$995
The Retreat at Lake Johnson ApartmentsA1 - Dahlia1BR, 1BA$1,004
WestchesterA31BR, 1BA$1,020
Tryon Village1 Bedroom 1 Bath1BR, 1BA$1,025
Trailwood Crossing ApartmentsA1 - Bickmore1BR, 1BA$1,055
The Reserve at White OakC31BR, 1BA$1,104

Best Value Apartments for Rent in South Raleigh, NC

As of September 28, 2026 the best value apartment in the South Raleigh area is the $0.55 price per square foot 4x4 Model at University Village at 2505 in the University Suites neighborhood starting from $799. The second greatest value South Raleigh apartment is the 1440 Collegiate Cir Model at 1440 Collegiate Cir, Unit 104 in the Lakeside neighborhood starting at $625 with a $0.46 price per square foot. Here is today’s list of the best values for South Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
University Village at 25054x44BR, 4BA$0.55
1440 Collegiate Cir, Unit 1041440 Collegiate Cir4BR, 4BA$0.46
2021 Wolf Tech Ln, Unit 2042021 Wolf Tech Ln4BR, 4BA$0.46
3770 Pardue Woods Pl, Unit 3013770 Pardue Woods Pl3BR, 3BA$0.48
Tryon Flats ApartmentsA24BR, 4BA$0.58
Centennial Ridge Student Housing3x33BR, 3BA$0.49
Village Green Student Housing3BD/3BA3BR, 3BA$0.60
Campus West at Tryon3X33BR, 3BA$0.67
Campus Crossings Raleigh2 Bedroom 2 Bathroom2BR, 2BA$0.86
Olde School CommonsOSC 1/11BR, 1BA$0.89

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.

Read Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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
South Raleigh, Raleigh, NC

Ranked #10

Among cities in North Carolina for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, including South Raleigh, Raleigh, and the greater Raleigh area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including our Star Ratings to compare for convenient access to the outdoors, luxury amenities, transit availability, pet-friendly communities, places to raise kids, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap South Raleigh Apartments

What is the price of a cheap apartment in South Raleigh?

The cheapest apartment in South Raleigh is Olde School Commons which is listed at $709, while the average apartment in South Raleigh costs $1,530.

What types of apartments are the cheapest in South Raleigh?

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 54 regular apartments in South Raleigh 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 South Raleigh?

Cheap apartments in South Raleigh have an average cost of $393 which is $1,137 cheaper than the average rent for all rentals in South Raleigh.

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

decorative image for Discover Raleigh, North Carolina: A Local's Take on the City of Oaks article

Discover Raleigh, North Carolina: A Local's 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.

decorative image for Discover Terrific Apartment Opportunities Near Raleigh's Largest Employers article

Discover Terrific Apartment Opportunities Near Raleigh's 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.

decorative image for Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Raleigh article

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.

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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals   article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for How Commercial-to-Residential Property Conversions Help the Housing Crisis   article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags   article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.