Best Affordable Neighborhoods in Raleigh, NC
Some of the cheapest neighborhoods in Raleigh are St Marys Estates/Emerald Village, Southwest Raleigh, and Southeast Raleigh. These neighborhoods offer some of the lowest rent prices in Raleigh, making them ideal for renters on a budget. As of May 11, 2026, the average rent in Raleigh is $1,385, which is 1.8% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
St Marys Estates/Emerald Village
Average Rent
$1,214/Month
Units Available
96 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out St Marys Estates/Emerald Village. The average rent is $1,214, compared to the city average of $1,385. St Marys Estates/Emerald Village is convenient to Market at Rock Quarry, Anderson Point Park, and Wake Technical, Health Science.
Southwest Raleigh
Average Rent
$1,264/Month
Year-Over-Year Rent Change
5.6%
Units Available
112 Rentals
Southwest Raleigh boasts cost-effective rental homes near several educational institutions, including North Carolina State University. The area includes various parks and events put on by NCSU, ensuring plenty of recreational activities. Affordable housing in Southwest Raleigh appeals to students and professionals alike.
Southeast Raleigh
Average Rent
$1,291/Month
Year-Over-Year Rent Change
1.2%
Units Available
108 Rentals
Southeast Raleigh is an affordable neighborhood in Raleigh with an average rent price of $1,291. Compare this to the city average of $1,385. In the past year, rent prices have decreased by 1.2%. Southeast Raleigh provides easy access to Raleigh-Durham International, Southridge Marketplace, and William Peace University.
East Raleigh
Average Rent
$1,325/Month
Year-Over-Year Rent Change
1.4%
Units Available
669 Rentals
East Raleigh is a rural, residential neighborhood with easy access to downtown, as well grocery stores, shopping centers, and hospitals. Affordable living in East Raleigh offers practicality for renters seeking proximity to city amenities.
Lake Johnson
Average Rent
$1,343/Month
Year-Over-Year Rent Change
4.9%
Units Available
99 Rentals
If you’re looking for a great, affordable neighborhood in Raleigh, Lake Johnson might be the perfect place! It has an average rent price of $1,343, while the city’s average stands at $1,385. In the last year, prices have decreased by 4.9%. Lake Johnson is near Avent Ferry Shopping Center, NC State, and J.C. Raulston Arboretum.
Triangle Town Center
Average Rent
$1,343/Month
Year-Over-Year Rent Change
2.3%
Units Available
360 Rentals
Triangle Town Center in Raleigh, North Carolina, is a budget-friendly neighborhood near the heart of Downtown Raleigh. With convenient access to a namesake shopping mall, the neighborhood provides easy connections to retail stores, dining, and entertainment venues. Affordable living here ensures both convenience and enjoyment.
North Raleigh
Average Rent
$1,345/Month
Year-Over-Year Rent Change
1.8%
Units Available
518 Rentals
North Raleigh is set within a serene and green environment. This area is home to numerous parks and provides ample opportunities for outdoor activities. Renters will find North Raleigh accessible and peaceful.
Crabtree Valley
Average Rent
$1,369/Month
Year-Over-Year Rent Change
3%
Units Available
483 Rentals
Crabtree Valley offers rentals near the popular Crabtree Valley Mall, home to over 200 stores and dining options. The neighborhood is just miles away from Raleigh's headlining amenities, such as the Durham International Airport and the North Carolina Museum of Art.
Parkland/Hidden Creek
Average Rent
$1,387/Month
Year-Over-Year Rent Change
2.8%
Units Available
126 Rentals
Parkland/Hidden Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Parkland/Hidden Creek is $1,387 while the city average is $1,385. This is a -2.8% difference from last year. Residents enjoy convenient access to Raleigh Oaks Shopping Center, Chapanoke Square, and Raleigh-Durham International.
North Ridge
Average Rent
$1,406/Month
Year-Over-Year Rent Change
3.3%
Units Available
138 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out North Ridge. The average rent is $1,406, compared to the city average of $1,385. Rent prices have increased by 3.3%. North Ridge is convenient to Durant Nature Park, Sutton Square, and Wake Technical, Northern Wake.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.