Average Rent in Raleigh, NC

Current Versus Historical Raleigh, NC Rents

Raleigh rentals average $1,375 for a studio rental to $2,875 for a 4-bedroom rental. The median price of all currently available listings is $1,950, or roughly $1 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $645 (48.35%) year-over-year from $1,335 to $1,980. 1-bedroom rentals prices have increased by $633 (36.34%) year-over-year from $1,742 to $2,376. 2-bedroom rentals prices have increased by $486 (29.67%) year-over-year from $1,638 to $2,124. 3-bedroom rentals prices have increased by $103 (5.46%) year-over-year from $1,892 to $1,995. 4-bedroom rentals prices have increased by $401 (17.45%) year-over-year from $2,297 to $2,698. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 25.77% this month. 1-bedroom rents have gone up by 31.98% this month. 2-bedroom rents have gone up by 6.70% this month. 3-bedroom rents have gone up by 2.57% this month. 4-bedroom rents have gone up by 2.89% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.00	$1,980	$1,335 (48.35%)	$1,798 (10.13%)
1 BR	$2.16	$2,376	$1,742 (36.34%)	$1,585 (49.91%)
2 BR	$1.47	$2,124	$1,638 (29.67%)	$1,610 (31.92%)
3 BR	$1.21	$1,995	$1,892 (5.46%)	$1,616 (23.43%)
4+ BR	$1.19	$2,698	$2,297 (17.45%)	$1,911 (41.13%)

Historical Rents in Raleigh, NC

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Raleigh

There are a total of 2 cities nearby Raleigh. The average rent in Raleigh is currently $2,210 per month. Our records show that Durham, NC, with an average rent of $2,095, is the most affordable city nearby. In contrast, the most expensive city near Raleigh, NC is Cary, NC. Monthly rents here are on average $2,325 per month.

Let's compare Raleigh, NC's rent against other top cities nearby by bedroom size. Typically, rent for studios in Raleigh, NC is 16.27% more affordable than other cities nearby. One bedrooms are about 34.89% more expensive. Two bedrooms in Raleigh, NC are about 0.36% more expensive. Finally, rent for three bedrooms are about 7.77% more affordable. Want more information? Check out the top 2 cities near Raleigh, NC in the following chart.

City	Studio	1 Bed	2 Bed	All
Durham, NC	$1,298	$1,780	$1,800	$2,095
Cary, NC	$1,900	N/A	$1,688	$2,325

Top Neighborhoods Near Raleigh

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Raleigh

Some of these counties include Johnston, NC, Orange, NC, and Wake, NC. The average rent for rentals in these counties is $2,011. That's roughly around $1 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Johnston, NC. It's average rent per month is $1,775. Vice versa, with an average rent of $2,150, Durham, NC is the most expensive county by Raleigh, NC.

Typically, rent for studios in Raleigh, NC is 52.73% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Raleigh, NC is 0.90% more affordable than other counties nearby. Finally, rent for two bedrooms in Raleigh, NC is 1.57% more expensive than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Johnston, NC	N/A	$1,220	$1,500	$1,775
Orange, NC	N/A	$1,375	$1,695	$1,885
Wake, NC	$1,800	$1,384	$1,750	$2,138
Durham, NC	$1,300	$1,780	$1,923	$2,150

Top Zipcodes Near Raleigh

There are a total of 6 zipcodes in or near Raleigh, NC. The average rent for all of these zipcodes is $2,135. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 27610, Raleigh, NC at $1,850 per month. In comparison, the zipcode with the most expensive average rent of $2,450 per month is 27519, Cary, NC.

Meanwhile, two bedroom apartments will cost you an average of $1,844 per month. Which comes out to $1 per sqft. The following chart includes the top 6 zipcodes in Raleigh, NC. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
27519, Cary, NC	N/A	N/A	$1,938	$2,450
27502, Wake County, NC	N/A	N/A	$1,750	$2,385
27610, Raleigh, NC	N/A	N/A	$1,649	$1,850
27703, Durham County, NC	N/A	N/A	$1,550	$2,195
27603, Garner, NC	$850	$600	$2,025	$2,075
27701, Durham, NC	$1,298	$1,800	$2,498	$1,950

Frequently Asked Questions - Raleigh Average Rents

What is the average rent price in Raleigh, NC?

The average monthly rental price for Raleigh, NC apartments for rent is approximately $1,950. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Raleigh, NC rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Raleigh, NC.

How much is a studio apartment in Raleigh, NC?

The average monthly rental price for studio apartments is $1,375 and an average price per square feet of $2.00. There are a total of 6 studio apartment listings currently available for rent in Raleigh.

How much is a one bedroom apartment in Raleigh, NC?

The average monthly rental price for one bedroom apartments is $1,367 and an average price per square feet of $2.16. There are a total of 35 one bedroom apartment listings currently available for rent in Raleigh.

How much is a two bedroom apartment in Raleigh, NC?

The average monthly rental price for two bedroom apartments is $1,750 and an average price per square feet of $1.47. There are a total of 102 two bedroom apartment listings currently available for rent in Raleigh.

How have rent prices in Raleigh, NC changed this year?

Rent prices for rentals in Raleigh, NC can fluctuate yearly. Specifically, studio rental prices have changed by 0.48%, one bedroom rental prices have changed by 0.36%, two bedroom rental prices have changed by 0.30%, and three bedroom rental prices have changed by 0.05% year-over-year.

What is a reasonable rent price in Raleigh, NC?

A reasonable rent price in Raleigh, NC is around $1,560/month. You can search for these reasonably priced rental listings on RentHop.