Cheap Homes for Rent in Old Salem Neighborhood of Winston-Salem, NC from $400 (13 Rentals)

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

property at 1047 W Academy St

$695

Total Monthly Price

Total Monthly Price

Base Rent
$695

Total Monthly Price
$695

1 Bedroom, 1 Bath Condo for Rent

Available Now

1047 W Academy St, Unit 7, Unit 7

1047 W Academy St
Winston-SalemNC27101

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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.

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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 Salem Crest Apartment Homes priced from $785. The Residences at Diamond Ridge has the second lowest priced unit, which is a 2 Beds apartment currently listed from $830. Here are the most affordable Old Salem apartments for rent in Winston-Salem, NC:

Apartment ListingModel NameBed/BathPriced From
Salem Crest Apartment Homes1 Bed/1 Bath1BR,1BA$785
The Residences at Diamond Ridge932B1BM2BR,1BA$830
Gray Court Apartments0BR/1.0BAStudio,1BA$895
2425-2445 Old Greensboro Rd2 Bedroom2BR,1BA$990
1306 Glade Street1BR/1.0BA1BR,1BA$995

Best Value Apartments for Rent in Old Salem, NC

As of May 01, 2026 the best value apartment in the Old Salem area is the $1.44 price per square foot B1.26 Model at Edge Flats in the in the Buena Vista neighborhood starting from $2,095. The second greatest value Old Salem apartment is the Rivera Model at Gallery Lofts starting at $1,575 with a $1.53 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.
Edge FlatsB1.262BR,2BA$1.44
Gallery LoftsRivera1BR,1BA$1.53
664 W 2nd St664 W 2nd St2BR,1BA$1.30
Highland Commons2BR/1.0BA2BR,1BA$1.39
2425-2445 Old Greensboro Rd2 Bedroom2BR,1BA$1.10
1612 W 1st St, Unit B1612 W 1st St1BR,1BA$1.47
Mill 8001E1BR,1BA$1.61
1225 New Hope Ln, Unit D1225 New Hope Ln2BR,1BA$1.03
Salem Crest Apartment Homes1 Bed/1 Bath1BR,1BA$1.15
The Residences at Diamond Ridge931B1BSR1BR,1BA$1.31

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

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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 #21

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Old Salem

What type of rentals are currently available in Old Salem?

There are currently 217 Apartments for Rent in Old Salem, NC with pricing that ranges from $430 to $3,918. There are also 59 Single Family Homes for rent, Condos, and Townhome rentals currently available in Old Salem ranging from $499 to $3,800.

What is the current price range for Rental Homes in Old Salem?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Old Salem ranges from $499 to $3,800 with an average monthly rent of $1,381.

How much are larger Three and Four Bedroom Rentals in Old Salem?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Old Salem range from $1,085 to $3,918, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $3,800. Four Bedroom Single-Family rentals are also available starting from $1,495 and Four Bedroom Apartments start at $1,972.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.