Cheap Apartments for Rent in the Downtown Wilmington Neighborhood of Wilmington, NC from $700 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Wilmington area of Wilmington.

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Chateau Terrace
Rent Specials
$1,301 - $1,446
Total Monthly Price

Total Monthly Price

Base Rent
$1,301 - $1,446

Total Monthly Price
$1,301 - $1,446
Studio to 3 Bedroom Apartments Available Now

Chateau Terrace

1201 Columbus CirWilmington, NC 28403
Cost Per Sq.Ft.
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  • Customer Reviewed
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

property at 923 N 5th Ave

$1,375

2 Bedroom Rentals

Available Now

923 N 5th Ave

WilmingtonNC28401
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City Block
Rent Specials
$1,423 - $1,764
Total Monthly Price

Total Monthly Price

Base Rent
$1,423 - $1,764

Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

City Block

814 N 3rd StWilmington, NC 28401
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  • 3D Tour
property at 818 Hanover St

$1,475

Total Monthly Price

Total Monthly Price

Base Rent
$1,475

Total Monthly Price
$1,475

2 Bedroom, 1 Bath Home for Rent

Available Now

818 Hanover St

WilmingtonNC28401
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Flats on Front
Rent Specials
$1,498 - $5,569
Total Monthly Price

Total Monthly Price

Base Rent
$1,498 - $5,569

Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Flats on Front

1045 N Front StWilmington, NC 28401
Eco-Friendly
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  • Customer Reviewed
  • 3D Tour

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Pier 33 Apartments
Rent Specials
$1,584 - $5,769
Total Monthly Price

Total Monthly Price

Base Rent
$1,584 - $5,769

Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Pier 33 Apartments

901 Nutt StWilmington, NC 28401
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property at 414 Queen St

$1,595

Total Monthly Price

Total Monthly Price

Base Rent
$1,595

Total Monthly Price
$1,595

1 Bedroom, 1 Bath Home for Rent

Available Now

414 Queen St

WilmingtonNC28401

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.

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The Terrace Apartments
Studio to 2 Bedroom Apartments

The Terrace Apartments

214 Red Cross StWilmington, NC 28401
  • Utilities Included
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Riverview
1 Bedroom Apartments

Riverview

212 Red Cross StWilmington, NC 28401
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Riverview Apartments
Studio to 2 Bedroom Apartments

Riverview Apartments

211 Red Cross StWilmington, NC 28401
  • Utilities Included
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Riverwalk Condominiums
Studio to 1 Bedroom Apartments

Riverwalk Condominiums

212 S Water StWilmington, NC 28401
Corporate Housing
  • Utilities Included

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.

property at 720 Queen St

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900

Total Monthly Price
$1,900

2 Bedroom, 1 Bath Home for Rent

Available Now

720 Queen St

WilmingtonNC28401

Downtown Wilmington, Wilmington, NC Local Guide

Cheapest Available Downtown Wilmington Apartments for Rent

 

The cheapest available apartment rental in the Downtown Wilmington area of Wilmington, NC is a 1 Bed unit found at The Creek priced from $1,029. Forest Hills has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,149. Here are the most affordable Downtown Wilmington apartments for rent in Wilmington, NC:

Apartment ListingModel NameBed/BathPriced From
The CreekAZALEA1BR,1BA$1,029
Forest HillsSOUTHERN PINE1BR,1BA$1,149
Chateau Terrace2 Bedroom 1 Bath Deluxe2BR,1BA$1,301
Mid CastleRoyal- A1BR,1BA$1,325
City BlockLondon1BR,1BA$1,428
17 SocialA1E1BR,1BA$1,475
Flats on Front1A1BR,1BA$1,503
Sawmill PointAlamosa1BR,1BA$1,520

Best Value Apartments for Rent in Downtown Wilmington, NC

As of April 29, 2026 the best value apartment in the Downtown Wilmington area is the $1.17 price per square foot 2 Bedroom 1 Bath Model at Chateau Terrace in the in the Carolina Heights neighborhood starting from $1,346. The second greatest value Downtown Wilmington apartment is the 2103 Pender Ave Model at 2103 Pender Ave, Unit 1 starting at $1,495 with a $1.50 price per square foot in the Carolina Heights neighborhood. Here is today’s list of the best values for Downtown Wilmington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Chateau Terrace2 Bedroom 1 Bath2BR,1BA$1.17
2103 Pender Ave, Unit 12103 Pender Ave2BR,2BA$1.50
Metropolitan at the RiverwalkB7B2BR,2BA$2.18
South FrontBillie Holiday1BR,1.5BA$2.00
Sawmill PointAlamosa1BR,1BA$1.90
17 SocialA1E1BR,1BA$1.91
City BlockLondon1BR,1BA$2.03
Forest HillsSOUTHERN PINE1BR,1BA$1.87
Mid CastleAbbey - BStudio ,1BA$2.49
The CreekIVYStudio ,1BA$2.29

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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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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Central Wilmington, NC. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, places to raise kids, raising pets, transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Wilmington Apartments

What is a cheap apartment in Downtown Wilmington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Wilmington is under $1,520.

What is the price of a cheap apartment in Downtown Wilmington?

The cheapest apartment in Downtown Wilmington is The Creek which is listed at $1,029, while the average apartment in Downtown Wilmington costs $1,945.

What types of apartments are the cheapest in Downtown Wilmington?

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 8 regular apartments in Downtown Wilmington 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 Downtown Wilmington?

Cheap apartments in Downtown Wilmington have an average cost of $208 which is $1,737 cheaper than the average rent for all rentals in Downtown Wilmington.

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.

Articles, How-To's, and Tips

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts  article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.