Most Affordable Neighborhoods in Raleigh, NC

Some of the cheapest neighborhoods in Raleigh are Lake Park Condominiums, Pine Ridge, and Winter Park. These neighborhoods offer some of the lowest rent prices in Raleigh, making them ideal for renters on a budget. As of June 14, 2025, the average rent in Raleigh is $1,404, which is 0.8% 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.

Lake Park Condominiums

Average Rent

$1,034/Month

Units Available

29 Rentals

Lake Park Condominiums is an affordable neighborhood in Raleigh with an average rent price of $1,034. Compare this to the city average of $1,404. Lake Park Condominiums provides easy access to NC State, Centennial Campus, Wake Technical, Public Safety, and WRAL Azalea Gardens.

Apartments for Rent in Lake Park Condominiums Lake Park Condominiums Cheap Apartments

Pine Ridge

Average Rent

$1,049/Month

Units Available

42 Rentals

If you’re looking for a great, affordable neighborhood in Raleigh, Pine Ridge might be the perfect place! It has an average rent price of $1,049, while the city’s average stands at $1,404. Pine Ridge is near Tarrymore Square, Mordecai Historic Park, and Wake Technical, Health Science.

Apartments for Rent in Pine Ridge Pine Ridge Cheap Apartments

Winter Park

Average Rent

$1,081/Month

TransitScore® Rating

20/100

Units Available

11 Rentals

Winter Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Winter Park is $1,081 while the city average is $1,404. Residents enjoy convenient access to Mini-City Market Place, Marsh Creek Park, and Wake Technical, Health Science. The neighborhood is considered somewhat walkable with a WalkScore® of 52.

Apartments for Rent in Winter Park Winter Park Cheap Apartments Winter Park Low Income Apartments

Somerset Place

Average Rent

$1,085/Month

Units Available

13 Rentals

When you’re looking for a great Raleigh neighborhood on a budget, check out Somerset Place. The average rent is $1,085, compared to the city average of $1,404. Somerset Place is convenient to Marsh Creek Park, Raleigh-Durham International, and Mordecai Historic Park.

Apartments for Rent in Somerset Place Somerset Place Cheap Apartments

Shamrock Meadows

Average Rent

$1,089/Month

Units Available

36 Rentals

Shamrock Meadows is an affordable neighborhood in Raleigh with an average rent price of $1,089. Compare this to the city average of $1,404. Shamrock Meadows provides easy access to Wake Technical, Adult Edu Ctr, Lake Ridge Center, and Wake Technical, Health Science.

Apartments for Rent in Shamrock Meadows Shamrock Meadows Cheap Apartments Shamrock Meadows Low Income Apartments

Durant Trails

Average Rent

$1,143/Month

Units Available

14 Rentals

If you’re looking for a great, affordable neighborhood in Raleigh, Durant Trails might be the perfect place! It has an average rent price of $1,143, while the city’s average stands at $1,404. Durant Trails is near North Wake Landfill District Park, Falls Pointe, and Durant Nature Park.

Apartments for Rent in Durant Trails Durant Trails Cheap Apartments

Heathrow Durant Trace

Average Rent

$1,143/Month

TransitScore® Rating

22/100

Units Available

14 Rentals

Heathrow Durant Trace is a top choice for budget-conscious renters for a variety of reasons. The average rent in Heathrow Durant Trace is $1,143 while the city average is $1,404. Residents enjoy convenient access to North Wake Landfill District Park, Wake Technical, Adult Edu Ctr, and Shelley Lake. The neighborhood is considered car-dependent with a WalkScore® of 41.

Apartments for Rent in Heathrow Durant Trace Heathrow Durant Trace Cheap Apartments

Fairview Acres

Average Rent

$1,146/Month

Units Available

26 Rentals

When you’re looking for a great Raleigh neighborhood on a budget, check out Fairview Acres. The average rent is $1,146, compared to the city average of $1,404. Fairview Acres is convenient to J.C. Raulston Arboretum, WRAL Azalea Gardens, and South Hills Shopping Center.

Apartments for Rent in Fairview Acres Fairview Acres Cheap Apartments

Old Farm

Average Rent

$1,147/Month

TransitScore® Rating

33/100

Units Available

28 Rentals

Old Farm is an affordable neighborhood in Raleigh with an average rent price of $1,147. Compare this to the city average of $1,404. Old Farm provides easy access to Swift Creek Bluffs Nature Preserve, Raleigh-Durham International, and J.C. Raulston Arboretum. It’s a car-dependent neighborhood with a WalkScore® of 38.

Apartments for Rent in Old Farm Old Farm Cheap Apartments

Delta Ridge

Average Rent

$1,149/Month

Units Available

22 Rentals

If you’re looking for a great, affordable neighborhood in Raleigh, Delta Ridge might be the perfect place! It has an average rent price of $1,149, while the city’s average stands at $1,404. Delta Ridge is near J.C. Raulston Arboretum, William Peace University, and Raleigh-Durham International.

Apartments for Rent in Delta Ridge Delta Ridge Cheap Apartments

Ready to make your move to Raleigh? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!

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.