EXHIBIT 23


                        CONSENT OF INDEPENDENT AUDITORS



We consent to the  incorporation  by  reference  in the  following  Registration
Statements  of  Cornerstone  Realty  Income  Trust,  Inc.  and  in  the  related
Prospectuses  of  our  report  dated  January  25,  1999,  with  respect  to the
consolidated  financial  statements  and schedule of  Cornerstone  Realty Income
Trust,  Inc.  included  in this Annual  Report  (Form  10-K) for the year  ended
December 31, 1998:








 REGISTRATION STATEMENT NUMBER                        DESCRIPTION
- ------------------------------- ------------------------------------------------------
                             

   333-24871                    Form S-8, pertaining to the Company's 1992
                                 Non-Employee Directors Stock Option Plan, Special
                                 Non-Employee Directors Stock Option Plan and
                                 Non-Employee Directors Fees Plan
   333-24875                    Form S-8, pertaining to the Company's 1992 Incentive
                                Plan
   333-34441                    Form   S-3,   Shelf   Registration    Statement,
                                pertaining to the  registration  of $200 million
                                of  Common  Shares,  Preferred  Shares  and Debt
                                Securities
   333-19187                    Form S-3, pertaining to the Company's Dividend
                                Reinvestment and Share Purchase Plan



                                                   /s/ Ernst & Young LLP


Richmond, Virginia
March 29, 1999