Cheapest Neighborhoods in Raleigh, NC
Some of the cheapest neighborhoods in Raleigh are University Woods, Lake Park Condominiums, and Kentwood. These neighborhoods offer some of the lowest rent prices in Raleigh, making them ideal for renters on a budget. As of August 10, 2026, the average rent in Raleigh is $1,392, which is 1.4% higher 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.
University Woods
Average Rent
$607/Month
Units Available
10 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out University Woods. The average rent is $607, compared to the city average of $1,392. University Woods is convenient to Lake Johnson Nature Park, Avent Ferry Shopping Center, and J.C. Raulston Arboretum.
Lake Park Condominiums
Average Rent
$942/Month
Units Available
29 Rentals
Lake Park Condominiums is an affordable neighborhood in Raleigh with an average rent price of $942. Compare this to the city average of $1,392. Lake Park Condominiums provides easy access to Raleigh-Durham International, NC State, and Campbell University.
Kentwood
Average Rent
$1,028/Month
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Raleigh, Kentwood might be the perfect place! It has an average rent price of $1,028, while the city’s average stands at $1,392. Kentwood is near Raleigh-Durham International, Neuse Riverkeeper Foundation, and NC State.
Pine Ridge
Average Rent
$1,058/Month
Units Available
26 Rentals
Pine Ridge is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pine Ridge is $1,058 while the city average is $1,392. Residents enjoy convenient access to Durant Nature Park, North Wake Landfill District Park, and Shelley Lake.
Sandy Land Village
Average Rent
$1,061/Month
Units Available
18 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out Sandy Land Village. The average rent is $1,061, compared to the city average of $1,392. Sandy Land Village is convenient to Stonehenge Market, Stonehenge Corporate Center, and Raleigh-Durham International.
Shamrock Meadows
Average Rent
$1,092/Month
Units Available
27 Rentals
Shamrock Meadows is an affordable neighborhood in Raleigh with an average rent price of $1,092. Compare this to the city average of $1,392. Shamrock Meadows provides easy access to Raleigh-Durham International, Tarrymore Square, and William Peace University.
Westlake Village
Average Rent
$1,111/Month
Units Available
24 Rentals
If you’re looking for a great, affordable neighborhood in Raleigh, Westlake Village might be the perfect place! It has an average rent price of $1,111, while the city’s average stands at $1,392. Westlake Village is near Shelley Lake, J.C. Raulston Arboretum, and Lake Crabtree County Park.
Colonial Grand at Brier Creek
Average Rent
$1,146/Month
Units Available
28 Rentals
Colonial Grand at Brier Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Colonial Grand at Brier Creek is $1,146 while the city average is $1,392. Residents enjoy convenient access to Brierdale Shopping Center, Raleigh-Durham International, and William B. Umstead State Park.
Fairview Acres
Average Rent
$1,153/Month
Units Available
16 Rentals
When you’re looking for a great Raleigh neighborhood on a budget, check out Fairview Acres. The average rent is $1,153, compared to the city average of $1,392. Fairview Acres is convenient to Lake Johnson Nature Park, J.C. Raulston Arboretum, and Buck Jones Village.
Arbor Crest
Average Rent
$1,156/Month
Units Available
16 Rentals
Arbor Crest is an affordable neighborhood in Raleigh with an average rent price of $1,156. Compare this to the city average of $1,392.
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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.