Some NC Rents Rising At A Faster Rate Than US Average

Some NC Rents Rising At A Faster Rate Than US Average

4:43pm Oct 29, 2019
Winston-Salem saw a half-percent rise in rents from August to September of this year. Image credit: Visit Winston-Salem

New numbers are out on the rising cost of rent in the U.S., and some North Carolina cities are outpacing the national average.

Rents for multifamily apartments in the Research Triangle area are climbing faster than other places across the country. The average rent there is still less than it is nationwide, but the growth rate is faster: 5.3 percent compared to the national pace of 3 percent. That could make it more difficult to negotiate apartment rent.

In the Triad, Winston-Salem has seen a half-percent rise in rents from August to September of this year. In Kernersville, that number was 1.7 percent, which is the fastest one month increase in the state.

The recent numbers come from RealPage, and Yardi Matrix — both real estate data and research companies. 

Chapel Hill is the state’s most expensive place for renters, with an average monthly cost of over $1,407. Asheboro is the most affordable, with an average rent of $730.

Copyright 2019 WFDD. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.
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