Cheapest Neighborhoods in Raleigh, NC
Some of the cheapest neighborhoods in Raleigh are St Marys Estates/Emerald Village, Southeast Raleigh, and Southwest Raleigh. These neighborhoods offer some of the lowest rent prices in Raleigh, making them ideal for renters on a budget. As of June 25, 2026, the average rent in Raleigh is $1,393, which is 1.2% 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
$1,200/Month
Units Available
87 Rentals
St Marys Estates/Emerald Village is an affordable neighborhood in Raleigh with an average rent price of $1,200. Compare this to the city average of $1,393. St Marys Estates/Emerald Village provides easy access to Chavis Park, Market at Rock Quarry, and Campbell University.
Southeast Raleigh
Average Rent
$1,232/Month
Year-Over-Year Rent Change
6.3%
Units Available
102 Rentals
If you’re looking for a great, affordable neighborhood in Raleigh, Southeast Raleigh might be the perfect place! It has an average rent price of $1,232, while the city’s average stands at $1,393. In the last year, prices have decreased by 6.3%. Southeast Raleigh is near Wake Technical, Health Science, Walnut Creek Wetland Center, and Anderson Point Park.
Southwest Raleigh
Average Rent
$1,282/Month
Year-Over-Year Rent Change
0.4%
Units Available
122 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.
Triangle Town Center
Average Rent
$1,311/Month
Year-Over-Year Rent Change
2.9%
Units Available
418 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.
East Raleigh
Average Rent
$1,354/Month
Year-Over-Year Rent Change
3.4%
Units Available
470 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.
North Raleigh
Average Rent
$1,359/Month
Year-Over-Year Rent Change
0.2%
Units Available
543 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.
Parkland/Hidden Creek
Average Rent
$1,396/Month
Year-Over-Year Rent Change
0.7%
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 $1,396 while the city average is $1,393. This is a -0.7% difference from last year. Residents enjoy convenient access to Lincoln Park South, Pullen Park, and NC State.
Lake Johnson
Average Rent
$1,398/Month
Year-Over-Year Rent Change
0.8%
Units Available
91 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out Lake Johnson. The average rent is $1,398, compared to the city average of $1,393. Rent prices have decreased by 0.8%. Lake Johnson is convenient to Meredith College, Avent Ferry Shopping Center, and NC State, Centennial Campus.
King Charles
Average Rent
$1,401/Month
Year-Over-Year Rent Change
0.2%
Units Available
99 Rentals
King Charles is an affordable neighborhood in Raleigh with an average rent price of $1,401. Compare this to the city average of $1,393. In the past year, rent prices have increased by 0.2%. King Charles provides easy access to Historic Oak View County Park, Walnut Creek Wetland Center, and Chavis Park.
North Ridge
Average Rent
$1,418/Month
Units Available
164 Rentals
If you’re looking for a great, affordable neighborhood in Raleigh, North Ridge might be the perfect place! It has an average rent price of $1,418, while the city’s average stands at $1,393. In the last year, prices have decreased by 0%. North Ridge is near Litchford Village, Sutton Square, and Durant Nature Park.
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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.