Rent Prices in North Carolina’s Largest Cities

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The Tar Heel State is home to two of the fastest-growing metropolitan cities in the entire country: Charlotte and Raleigh. More businesses are making their start in North Carolina, recognizing the level of talented, educated individuals making their stay after graduating from schools such as Duke University and UNC Chapel Hill.

A growing population means an increase in rental prices, but some of the most prevalent cities in North Carolina show that you don’t have to break the bank to make a living in a city that has a lot to offer.

Here, we’ll look at North Carolina’s five largest cities and their average rental prices as of December 2015. We will rank the five cities by population, largest to smallest. All data comes from Rent Jungle, and rental rates are within 10 miles of the greater city areas.

Charlotte – $1117

Charlotte

The Queen City is North Carolina’s largest, which according to the Charlotte Observer, has surpassed a population of 800,000 in 2014. It should then come as no surprise that Charlotte contains some of the highest rents in the North Carolina. That being said, a large city with a growing economy has still maintained a relatively accessible rental rate. A one-bedroom in Charlotte averages around $996, and a two-bedroom comes in at a $1211 average.

Raleigh – $1040

Raleigh

Considered Charlotte’s cultural and economic rival, isn’t just one of North Carolina’s fastest-growing cities. Forbes considered the state captial the fourth fastest-growing city in America in 2015.

For a city that once experienced a rather dormant existence, Raleigh is quickly becoming a go-to city for young professionals, families, and small businesses. Newcomers arriving in Raleigh on their own can expect the average price of a one-bedroom apartment in the downtown area to be $948, while a two-bedroom will go for $1109.

Greensboro – $766

Greensboro

Greensboro is arguably the poster-city of North Carolina’s Piedmont-Triad region. As the state’s third-largest city, the average rental price is a massive drop compared to the Charlotte and Raleigh. A one-bedroom apartment in Greensboro averages around $653, while a two-bedroom weighs in at $771.

Durham – $1076

Durham

Although in close proximity to Raleigh, Durham is a completely separate metropolis from the City of Oaks. Outsiders of the Triangle region tend to identify the area as “Raleigh-Durham”, denoting a single metropolis, but their distinctions are important to note.

Home to Duke University, Durham in recent years has experienced a renaissance in culture and people. Food enthusiasts revel in the city’s selection of food trucks and breweries. A wealth of startups have gained ground in Durham, partly in thanks to the renovation of the American Tobacco Campus, but also the proximity of the Research Triangle Park.

Winston-Salem – $778

Winston Slame

Winston-Salem rests with Greensboro as the second-largest city in the Piedmont Triad region. As the fifth-largest city in North Carolina, rent prices are relatively low, but average a bit higher than Greensboro.

People looking for a city that is rich in the arts will find a home in Winston-Salem. In fact, Winston-Salem is the first city in America to establish an arts council. The city is also plentiful with natural attractions, including Pilot Mountain.

 

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