Cheap Apartments for Rent in 27516
130 rentals
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SPECIAL OFFERTotal price$768 - $1,229/mo
1-3 Beds
1-2 BathsTrinity Court Apartments | 751 Trinity Ct #3dfdc64bc,
Chapel Hill, NC 27516
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SPECIAL OFFERPET FRIENDLY$1,499 - $1,899/mo1-3 Beds1-2 BathsSouthern Village | 200 Copperline Dr #C305-L,
Chapel Hill, NC 27516
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NEW - 2 DAYS AGOPET FRIENDLY$1,654 - $3,903/moStudio-3 Beds1-2 BathsCarraway Village | 600 Carraway Xing #1410,
Chapel Hill, NC 27516
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Average Rent Trends in 27516
Rent in 27516 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in May 2026 compared to the previous month. Rent previously peaked in Oct 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $2,300 |
| Jul 2025 | $2,300 |
| Aug 2025 | $2,300 |
| Sep 2025 | $2,400 |
| Oct 2025 | $2,438 |
| Nov 2025 | $2,300 |
| Dec 2025 | $2,295 |
| Jan 2026 | $2,250 |
| Feb 2026 | $2,200 |
| Mar 2026 | $2,200 |
| Apr 2026 | $2,300 |
| May 2026 | $2,300 |
Average Rent By Bedroom and Home Type
In May 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,350 | $1,821 | $2,550 | $2,900 | $2,300 |
| Townhomes | $650 | $2,022 | $2,500 | $2,900 | $2,450 |
| Apartments and Condos | $1,250 | $1,475 | $2,539 | $2,267 | $1,499 |
| Houses | $768 | $2,300 | $2,550 | $3,000 | $2,575 |
Frequently Asked Questions about Rentals in 27516
- What is the average rent of an apartment in 27516?The average rent of an apartment in 27516 is $1,523 per month. This is about 21% lower than the national average.
- What is the average rent of a house in 27516?The average rent of a house in 27516 is $2,575 per month. This is about 33% higher than the national average.
- What is the average rent of a townhome in 27516?The average rent of a townhome in 27516 is $2,450 per month. This is about 27% higher than the national average.
- When is the average rent cheapest in 27516?In the last year, the average rent in 27516 was lowest in Feb 2025 when it was $1,890 per month.
- When is the average rent most expensive in 27516?In the last year, the average rent in 27516 was highest in Oct 2025 when it was $2,438 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 27516?The average rent of a 1 bedroom apartment in 27516 is $1,350 per month. That is about $300 less than the cost of a studio apartment.
- How many available rental listings are in 27516?There are 126 available rental listings in 27516.
- What are some cities near 27516?Some nearby cities include: Chapel Hill, Carrboro, Saxapahaw, Pittsboro, Efland, Hillsborough. These cities may have more rental options to explore.