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Apartments for Rent in Raleigh, NC under $500

Apartments for Rent in Raleigh, NC under $500. 5 Rentals Available
5 Rentals Available
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  • Rent specials
    3 bd $425+
    Total monthly cost
    Verified Listing

    4.5 (7)
    613 Charleston Road, Raleigh, NC 27606
    Apply online • Pet friendly • Fitness center
  • Only 1 unit left
    1 bd $405
    Base rent
    Verified Listing

    311 Stoney Moss Drive, Raleigh, NC 27610
  • Ask for pricing
    Income restricted
    Verified Listing

    1631 Walnut Trace Drive, Raleigh, NC 27610
    Pet friendly • Fitness center • In unit laundry
3-0-city

Frequently asked questions

When were prices and availability in Raleigh, NC last updated?

Prices and availability in Raleigh, NC were last updated on 5 Jul 2026.

What are the best apartments in Raleigh, NC?
What type of rental buildings are in Raleigh, NC?

In Raleigh, 49% of the residents are renting compared to 51% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 19% of Raleigh's rentals, 63% are small-scale complexes with under 50 units, and 16% are single-family rentals.

Your search for apartments in Raleigh, NC under $500 stops here

Finding apartments for rent in Raleigh, NC for less than $500 has never been so easy! At RentCafe nice cheap apartments are just one click away. There are currently 5 available units in Raleigh, NC, renting for under $500. Be sure to search for the apartment that is best for you. Under “More”, check the amenities that you consider a must-have, and don’t forget to look at the pet policy. Fitness enthusiasts can even check the Fitness Center box. Whether you are looking for studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, you are sure to find one that will make you want to move in right away.

We’ll help you find the best rental near you

Having to compromise on either price or location can turn your “apartments near me under $500” search into a nightmare. At RentCafe we recognize the importance of both. Therefore, we offer a variety of filters that can help you find exactly what you want. Sorting the results by rent, ascending, will make the cheapest units show up first on the list. Try it out! You will find that right now the cheapest apartment under $500 in Raleigh, NC goes for $405 per month. If some of the results are outside the area of your choice, you can go to the left side of the screen and draw a radius or a polygon around your location. Now you will only see results that are relevant to you.