A low-cost, compact Raman spectrometer suitable for the on-line water monitoring applications is explored. A custom-designed concave grating for wavelength selection was fabricated and tested. The detection of the Raman signal is accomplished with a time-gated single photon avalanche diode (TG-SPAD). A fixed gate window of 3.5ns is designed and applied to the TG-SPAD. The temporal resolution of the SPAD was ~60ps when tested with a 7ps, 532nm solid-state laser. To test the efficiency of the gating in fluorescence signal suppression, different detection windows (3ns-0.25ns) within the 3.5ns gate window are used to measure the Raman spectra of Rhodamine B. Strong Raman peaks are resolved with this low-cost system.