Raleigh Homes under $500,000

Welcome to Raleigh, North Carolina – a vibrant city that perfectly blends Southern charm with modern sophistication. As the capital of North Carolina and the heart of the Research Triangle, Raleigh boasts a rich history, a thriving economy, and an array of cultural attractions that make it a fantastic place to call home.

Nestled in Wake County, Raleigh is renowned for its beautiful parks, top-notch schools, and a strong sense of community. The city is home to several prestigious universities and research institutions, fueling innovation and creating a dynamic job market. With a mild climate and an abundance of outdoor activities, residents can enjoy everything from hiking and biking to vibrant festivals and farmers' markets throughout the year.

For those looking to settle down in this charming city, Raleigh offers an impressive selection of homes priced under $500,000. Whether you’re a first-time homebuyer, a growing family, or someone looking to downsize, you’ll find a diverse range of options to fit your lifestyle. From cozy bungalows in historic neighborhoods to modern townhomes and spacious single-family houses, there’s something for everyone.

In addition to its affordable housing market, Raleigh's neighborhoods each have their own unique character and appeal. Explore the trendy shops and eateries in the downtown area or enjoy the family-friendly atmosphere in suburban communities like North Raleigh and Cary. With its welcoming spirit and endless opportunities, Raleigh is not just a place to live; it’s a place to thrive. Come discover your dream home in this captivating city!

Newest Raleigh Homes under $500,000

$399,900

4 Beds ⋅ 3 Baths ⋅ 10196440 MLS ⋅ ACTIVE Status

Welcome to this well maintained home featuring an open floor plan and a versatile first-floor bedroom with a full bath. The spacious eat-in kitchen offers a large island, granite countertops, custom tile backsplash, and stainless steel appliances—perfect for both everyday living and entertaining. The large primary suite features a private en-suite bath and walk-in closet, while custom shelving in every closet provides exceptional storage throughout the home. Enjoy outdoor living in the fully fenced yard with a covered patio. The community offers an impressive selection of amenities, including a clubhouse, fitness center, swimming pools, and tennis courts. The home is also wired for a security system. Conveniently located near I-40, I-540, and Highway 64, with easy access to shopping, restaurants, and everyday conveniences. Just a short commute to downtown Raleigh.

3665 Althorp Dr, Raleigh

$200,000

2 Beds ⋅ 2 Baths ⋅ 10196364 MLS ⋅ ACTIVE Status

If you're looking for a completely updated, move-in ready condo, in a GREAT West Raleigh location, central to all of the Triangle, look no further! Enter the front door into your new home. It has been freshly painted with new LVP flooring throughout. And NO popcorn ceilings! The kitchen has a brand new refrigerator, stylish shaker cabinets, kitchen sink, light fixtures and a range hood that vents to the outside. The bathrooms have new shower/tub, new vanities and new toilets. Enjoy your morning coffee or quiet evenings on a private covered back deck which overlooks the forest views. Located just outside the Belt Line, near Rex Hospital, Crabtree Valley Mall, NC State, the Lenovo Center, downtown Raleigh, and RTP. HOA dues cover water, sewer, trash, community pool and tennis and pickle ball courts. First time homeowners or investors welcome. This property is agent owned so we're ready, willing, and able to help make this your home.

4651 Timbermill Ct Unit 103, Raleigh

$299,000

2 Beds ⋅ 3 Baths ⋅ 10196341 MLS ⋅ ACTIVE Status

SIGNIFICANT PRICE ADJUSTMENT — outstanding value in the heart of Cary/Raleigh! If you've been waiting for a spacious, move-in-ready townhouse in an unbeatable location, at an unbeatable price, this is the opportunity you've been waiting for.Generous living spaces, two oversized bedroom suites, a one-car garage, community pool, and easy access to Crossroads, NC State, downtown Raleigh and Cary, this home delivers exceptional value and convenience. Step inside to an inviting, open floor plan with newer neutral paint and plush 1 year old carpeting. The oversized living room centers on a cozy fireplace and provides a generous dining area with plenty of space for a large table and entertaining. The well-appointed kitchen features stainless/black appliances—including the refrigerator—and a convenient pantry for additional storage.Upstairs, both bedrooms are exceptionally spacious and each features a private en-suite bathroom and walk-in closet. The primary suite features a tray ceiling in the bedroom and the bath includes a double vanity, separate garden tub, and shower. This is an ideal layout for roommates, guests, or those who simply want room to spread out. Washer/dryer convey making moving in even easier. Enjoy quiet mornings or relaxed outdoor dining on the private rear patio. A coveted one-car garage provides secure parking and storage, while abundant visitor parking makes entertaining easy. Residents also enjoy access to the sparkling community pool. With the significant price adjustment, move-in-ready condition, exceptional bedroom space, garage, private patio, pool access, and a location minutes from the best of Cary and Raleigh, this home offers a rare combination of space, convenience, and value. Don't miss your opportunity to see it!

2506 Bryarton Village Way, Raleigh

$230,000

2 Beds ⋅ 2 Baths ⋅ LP770312 MLS ⋅ ACTIVE Status

Welcome home to this clean and well-maintained 2-bedroom, 2-bathroom townhome in Lake Woodard Townhomes, the greater Raleigh area! Offering the convenience of single-level living with no stairs, this home is an excellent opportunity for anyone looking for comfort, accessibility, and a convenient location. The thoughtfully designed floor plan features two comfortable bedrooms, two full bathrooms, and an easy-flowing living space that makes everyday living simple. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance home, this townhome offers the flexibility you need. Location is a major highlight! You'll be conveniently situated near Wake Medical Center, making access to medical services especially convenient. Enjoy easy access to shopping, restaurants, entertainment, major roadways, and the many amenities throughout the greater Raleigh area. Listing Firm does not hold EMD. This won't last!!

3745 Votive Ln, Raleigh

$435,000

5 Beds ⋅ 3 Baths ⋅ 10196334 MLS ⋅ ACTIVE Status

Exceptionally well maintained and designed with everyday living in mind, 1520 Crested Iris Street offers the kind of space and flexibility that's easy to appreciate. Built in 2022, this five-bedroom, three-bath home offers more than 2,600 square feet with a floor plan that makes the most of every bit of it. A main-level bedroom and full bath create a comfortable setup for overnight guests, multigenerational living or a private home office, while an additional flex space gives you even more room to adapt the home to your needs. The open kitchen, dining and living areas keep everyday life connected, and upstairs, a spacious loft adds a second living area alongside the remaining bedrooms—giving everyone room to spread out without sacrificing bedroom space. Neutral finishes and a home that has been carefully cared for mean you can move in and make it your own over time rather than starting with a list of projects. A two-car garage adds everyday storage and convenience, while the manageable yard keeps weekends from revolving around maintenance. Located in Raleigh's 540 West community, residents enjoy access to a neighborhood pool, clubhouse and dog park, plus convenient proximity to Knightdale Station Park and numerous parks, green spaces and recreation options throughout the area. Shopping, dining and everyday conveniences in Knightdale are also close by, while the Raleigh address keeps you connected to the greater Triangle. With five bedrooms, three full baths, multiple flexible living spaces and a 2022 build, this is a home that delivers on space, function and location.

1520 Crested Iris St, Raleigh

$300,000

3 Beds ⋅ 3 Baths ⋅ 10196317 MLS ⋅ ACTIVE Status

Opportunity knocks on this expansive .52-acre corner lot near Downtown Raleigh. The existing home requires extensive renovation and the property offers a compelling opportunity for investors, builders or buyers looking to create something entirely new. Renovate, reimagine or explore redevelopment possibilities on this generously sized parcel with frontage along Sherrybrook Drive and E. Martin Street. The value here is in the land, location and potential. Convenient to Downtown Raleigh, major thoroughfares, shopping and dining. Property is being sold in its current condition. Bring your contractor, your plans and your vision. Rear Lot on 1502 E Martin is being sold separately. (MLS #10196320)

300 Sherrybrook Dr, Raleigh

$220,000

3 Beds ⋅ 2 Baths ⋅ 10196292 MLS ⋅ ACTIVE Status

INVESTORS & BUYERS WELCOME! 3-bedroom, 1.5-bath home being sold AS-IS. This property offers an opportunity for investors, rehabbers, or buyers looking to renovate and create a home that fits their vision. A pre-inspection has been completed, and the report is available for review. Contact Listing agent for a copy of the inspection report. Please note: There is an area of significant ground moisture along the right side of the home, and a potential septic or drainage issue should be further evaluated by the buyer. Seller will not be making repairs. Buyers are encouraged to conduct their own inspections, verify all information, and determine renovation and repair costs. Bring your contractor and vision—whether you're looking for an investment opportunity or a home to make your own, this property is ready for its next chapter!

2308 Shoveller Ct, Raleigh

$400,000

3 Beds ⋅ 2 Baths ⋅ 10196261 MLS ⋅ ACTIVE Status

Enjoy the ease of one-story living in a beautifully refreshed home ideally situated in one of Raleigh's most convenient locations. Just minutes from premier shopping and dining at Crabtree Valley Mall, with easy access to I-440, major thoroughfares, UNC REX Hospital, and some of the Triangle's most popular parks and destinations, this home offers both everyday convenience and an exceptional location. Inside, thoughtful updates and timeless finishes create a fresh, contemporary feel designed for today's lifestyle. Durable LVP flooring flows throughout the home, complemented by high ceilings that enhance the sense of space and openness. At the heart of the home, the gorgeous renovated kitchen features quartz countertops, soft-close cabinetry, stainless steel appliances, and a new backsplash, creating a stylish and functional space that's perfect for both everyday living and entertaining. Fully renovated bathrooms continue the modern aesthetic with updated tile, fixtures, and finishes for a polished designer look. Outside, the new deck provides the perfect setting for morning coffee, weekend gatherings, or relaxing evenings. Enjoy nearby dining favorites including Seasons 52, The Cheesecake Factory, and Fleming's Prime Steakhouse, as well as the natural beauty and scenic trails of Shelley Lake Park and William B. Umstead State Park. With a brand-new roof, all-new windows, updated lighting throughout, and easy access to everything the Triangle has to offer, this home combines comfort, style, and convenience in one exceptional package. A beautiful blend of one-story living, thoughtful updates, and an outstanding location, this home is ready to impress. Schedule your showing today and experience it for yourself!

3812 Hollycrest Ct, Raleigh

$479,000

3 Beds ⋅ 2 Baths ⋅ 10196236 MLS ⋅ COMING SOON Status

Location! Location! Location ! Lifestyle! A rare opportunity to own one of North Raleighs most desirable locations for under $500,000! This Charming North Raleigh Cape Cod home is tucked away on a quiet cul-de-sac lot offers the opportunity to enjoy an established North Raleigh setting while being just a few short minutes from some of the areas favorite restaurants, shopping, and everyday conveniences! This home has adorable curb appeal & an inviting setting to make you feel at home! This classic character, mature setting & versatile floor plan provide a wonderful foundation to bring your own vision & personal style! Whether you're looking to create your dream home or simply want to live in an exceptional location at an attainable price point, this one is worth the look! New Roof 2023 New AC 2025 and second unit New 2021 New Hot Water Heater 2021

8109 Sapwood Ct, Raleigh

$249,900

3 Beds ⋅ 3 Baths ⋅ 10196202 MLS ⋅ ACTIVE Status

Enjoy the perfect combination of comfortable living, inviting outdoor spaces, and a golf course setting in this spacious 3-bedroom, 2.5-bath home. The open and bright floor plan allows the kitchen to flow seamlessly into the family and dining areas and features a convenient eating bar, while a fireplace in the family room creates a welcoming focal point. New LVP flooring throughout the entire first floor adds a fresh, modern touch. The primary suite features walk-in closets, dual vanity sinks, and a garden tub/shower that has been upfitted with a lower step-over for easier, more accessible entry. Additional storage can be found throughout the home with a linen closet, pantry, attic storage, and exterior storage. Step outside to the screened porch and additional patio space, providing multiple areas to relax, entertain, or enjoy the outdoors surrounded by mature trees. Community amenities include two pools, tennis, golf, a lake with gazebo, and walking trails. With its golf course setting, open floor plan, generous storage, inviting outdoor spaces, and impressive community amenities, this home offers plenty to enjoy inside and out.

2253 Ventana Ln, Raleigh

$291,000

3 Beds ⋅ 2 Baths ⋅ 10196178 MLS ⋅ ACTIVE Status

Welcome to 1952 Grassy Banks Drive, a beautifully updated 3-bedroom, 2.5-bath end-unit townhome with a 1-car garage, offering low-maintenance living in a convenient Raleigh location. Just 15 minutes from Downtown Raleigh, this move-in-ready home provides easy access to I-440, I-540, the Neuse River Greenway Trail, shopping, dining, entertainment, and more. Step inside to a bright, spacious open-concept floor plan designed for comfortable everyday living and entertaining. The inviting family room features abundant natural light and a modern fireplace that creates a warm and welcoming atmosphere. The eat-in kitchen offers generous cabinet and countertop space, a pantry, and a full complement of appliances, including the refrigerator, range, dishwasher, and microwave. Upstairs, the spacious primary suite offers a vaulted ceiling, abundant natural light, and two separate closets for excellent storage. The private, spa-inspired ensuite features a stylish vanity and oversized tiled soaking tub, creating a relaxing retreat. Two additional bedrooms provide flexibility for guests, a home office, workout space, or other lifestyle needs. A large separate laundry room offers additional storage and everyday convenience. Recent improvements include a new roof, fresh interior paint, and freshly cleaned carpet, giving the home a fresh, well-maintained, move-in-ready feel. As an end unit, the home also provides added privacy and natural light. Enjoy the best of Raleigh with convenient access to major roadways, Downtown Raleigh, restaurants, shopping, grocery stores, nightlife, entertainment, and outdoor recreation. Whether you're a first-time buyer, looking to simplify, or searching for a home in a convenient location, 1952 Grassy Banks Drive is ready to welcome you home.

1952 Grassy Banks Dr, Raleigh

$415,000

3 Beds ⋅ 4 Baths ⋅ 10196167 MLS ⋅ ACTIVE Status

Welcome to this move-in-ready townhome in the heart of Midtown, just minutes from the premier shopping, dining, and entertainment of North Hills! Offering 2,131sq. ft. of thoughtfully designed living space, this home features 3 bedrooms and 3.5 baths, including a convenient half bath on the main level equipped with a new toilet. The main level showcases gorgeous hardwood floors, an updated cozy fireplace in the living room, a new ceiling fan, and a bright, open kitchen complete with white cabinets, a new microwave, a refrigerator that conveys, and an eat-in dining area that flows seamlessly onto a private back deck. Upstairs, the spacious owner's suite serves as a true retreat with a large walk-in closet, an additional secondary closet, and a spa-like ensuite bath featuring a picture window. This upper level also conveniently houses the new washer and dryer set (which convey) alongside the secondary bedroom and ensuite bath. The lower level offers incredible flexibility with a huge, finished walk-out basement featuring a versatile bedroom or game room space, a full bath, ample storage, and a covered patio overlooking the private outdoor area. Additional conveniences include two assigned parking spaces. A truly remarkable property combining prime location and exceptional space!

244 Ashton Hall Ln, Raleigh

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Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2026 Triangle MLS, Inc. of North Carolina. Data last updated .