Carolina Square
123 W Franklin St,
Chapel Hill, NC 27516
Call for Rent
Studio - 4 Beds
Area Guide
Downtown Chapel Hill Chapel Hill, NC
Here's where North Carolina meets the world
Walkable
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Shops
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Restaurants
There's a lot happening in Downtown Chapel Hill -- restaurants, shops, art galleries, museums, and (of course) the University of North Carolina at Chapel Hill. Downtown starts at the university and extends north and east past Franklin Street, the main drag through downtown. As the heart of the neighborhood, Franklin Street has it all -- great boutiques, trendy restaurants, brick-paved sidewalks, bike racks, mature trees, and a dash of history to tie it all together.
The neighborhood's seamless blend of public art and open green space help create the fun, funky atmosphere that sets the perfect backdrop for the live concerts, art walks, outdoor movie nights, and pub crawls that take place here. Some must-see events include Festifall Arts Festival, an exciting event that includes an artists' market, live music, food, hands-on activities, and more. Being so close to UNC, Downtown Chapel Hill also hosts events like Tar Heel Downtown, a rollicking event that takes places before the first home game and involves the Tar Heels cheerleaders and marching band.
Rent Trends
As of September 2026, the average apartment rent in Downtown Chapel Hill is $1,732 for a studio, $2,468 for one bedroom, $3,097 for two bedrooms, and $4,479 for three bedrooms. Apartment rent in Downtown Chapel Hill has increased by 10.7% in the past year.
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Studio
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527 sq ft
Average Sq Ft
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$1,732/month
Average Rent
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1 BR
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684 sq ft
Average Sq Ft
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$2,468/month
Average Rent
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2 BR
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1,025 sq ft
Average Sq Ft
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$3,097/month
Average Rent
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3 BR
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1,387 sq ft
Average Sq Ft
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$4,479/month
Average Rent
Learn More About Downtown Chapel Hill
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Downtown Chapel Hill - Chapel Hill, NC is for everyday living.
Very Walkable
Walkability
80
/ 100
Good Public Transit
Transit
70
/ 100
Moderately Drivable
Drivability
60
/ 100
Moderately Bikeable
Bikeability
60
/ 100
Daily Essentials
In Downtown Chapel Hill - Chapel Hill, NC, daily errands are quick and hassle-free.
Supermarket Within a 15 Minute Walk
Groceries
60
/ 100
Exceptional Restaurant Variety Nearby
Restaurants
90
/ 100
Exceptional Café Variety Nearby
Cafes
90
/ 100
Good Variety of Shops Nearby
Shopping
70
/ 100
Local Vibe
Get a sense of what it’s like to live in Downtown Chapel Hill - Chapel Hill, NC from everyday activity to noise and nightlife.
Vibrant Atmosphere at Times
Vibrancy
50
/ 100
Exceptional Nightlife Variety Nearby
Nightlife
90
/ 100
Somewhat Noisy
Quiet Score
80
/ 100
Scores provided by
Points of Interest
Shopping Centers
Parks and Recreation
- Morehead Planetarium & Science Center
- KidZu Children's Museum
- Coker Arboretum
- North Carolina Botanical Garden
- Piedmont Wildlife Center
Military Bases
Airports
- Raleigh-Durham International
Top Apartments in Downtown Chapel Hill
Houses for Rent in Downtown Chapel Hill
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.