Cheap Apartments for Rent in the Old Salem Neighborhood of Winston-Salem, NC from $400 (66 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Old Salem area of Winston-Salem.

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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property at 1437 W 4th St

1437 W 4th St

Winston-SalemNC27101
property at 2001 S Main St

2001 S Main St

Winston-SalemNC27127

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Hillside Apartments
2 Bedroom Apartments

Hillside Apartments

130 Weatherwood CtWinston-Salem, NC 27103
  • Utilities Included
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Holland Apartments
1 Bedroom Apartments

Holland Apartments

1121 Hutton StWinston-Salem, NC 27103
  • 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.

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Salem Crossing
1 Bedroom Apartments

Salem Crossing

1111 Salem Valley RdWinston-Salem, NC 27103
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Fairview Landing
1 to 2 Bedroom Apartments

Fairview Landing

1120 Burke Village LnWinston-Salem, NC 27105
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Colony Place Apartments
1 to 3 Bedroom Apartments

Colony Place Apartments

900 N Cleveland AveWinston-Salem, NC 27101
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Wilma Apartments
1 Bedroom Apartments

Wilma Apartments

220 N Hawthorne RdWinston-Salem, NC 27104
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Woodlawn Apartments
1 to 2 Bedroom Apartments

Woodlawn Apartments

100 Weatherwood CtWinston-Salem, NC 27103
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Aster Park Apartments
1 to 4 Bedroom Apartments

Aster Park Apartments

1620 Hope LnWinston-Salem, NC 27105
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1410 ACADEMY ST
Studio to 1 Bedroom Apartments

1410 ACADEMY ST

1410 Academy StWinston-Salem, NC 27103

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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Old Salem, Winston-Salem, NC Local Guide

Cheapest Available Old Salem Apartments for Rent

 

The cheapest available apartment rental in the Old Salem area of Winston-Salem, NC is a 1 Bed unit found at 600 Peters Creek priced from $430. Salem Crest Apartment Homes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $785. Here are the most affordable Old Salem apartments for rent in Winston-Salem, NC:

Apartment ListingModel NameBed/BathPriced From
600 Peters Creek1 bedroom 30%1BR,1BA$430
Salem Crest Apartment Homes1 Bed/1 Bath1BR,1BA$785
The Residences at Diamond Ridge932B1BMR2BR,1BA$885
Gray Court Apartments0BR/1.0BAStudio,1BA$895
Highland Commons2BR/1.0BA2BR,1BA$1,000
Village Lofts Apartments1BR/1.0BA1BR,1BA$1,120
Link Apartments® 4th StreetA11BR,1BA$1,173
Hilltop HouseA41BR,1BA$1,190
209 N Spring St1BR/1.0BA1BR,1BA$1,195

Best Value Apartments for Rent in Old Salem, NC

As of December 08, 2025 the best value apartment in the Old Salem area is the $1.19 price per square foot 933B1BLR Model at The Residences at Diamond Ridge in the in the South Central Winston Salem neighborhood starting from $1,190. The second greatest value Old Salem apartment is the Kahlo Model at Gallery Lofts starting at $1,480 with a $1.51 price per square foot in the Downtown Winston Salem neighborhood. Here is today’s list of the best values for Old Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Residences at Diamond Ridge933B1BLR3BR,1BA$1.19
Gallery LoftsKahlo1BR,1BA$1.51
Highland Commons2BR/1.0BA2BR,1BA$1.11
Edge FlatsA1.41BR,1BA$1.78
715 Watson Ave., Unit C715 Watson Ave.2BR,1BA$1.65
209 N Spring St1BR/1.0BA1BR,1BA$1.51
Gateway Apartments1.11BR,1BA$1.68
600 Peters Creek1 bedroom 60%1BR,1BA$1.25
Salem Crest Apartment Homes1 Bed/1 Bath1BR,1BA$1.15
235 Corona St, Unit 304235 Corona St1BR,1BA$1.19

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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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
Old Salem, Winston-Salem, NC

Ranked #33

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Getting Around the Old Salem Neighborhood in Winston-Salem, NC

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

66 / 100

Bikeable

Some bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Old Salem Apartments

What is a cheap apartment in Old Salem?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Salem is under $1,195.

What is the price of a cheap apartment in Old Salem?

The cheapest apartment in Old Salem is 600 Peters Creek which is listed at $430, while the average apartment in Old Salem costs $2,962.

What types of apartments are the cheapest in Old Salem?

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 Old Salem 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 Old Salem?

Cheap apartments in Old Salem have an average cost of $552 which is $2,410 cheaper than the average rent for all rentals in Old Salem.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.