Average Rent in Wake, NC

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Current Versus Historical Wake, NC Rents

Wake rentals average $1,800 for a studio rental to $2,595 for a 4-bedroom rental. The median price of all currently available listings is $2,100, or roughly $1 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $623 (-38.74%) year-over-year from $1,608 to $985. 1-bedroom rentals prices have decreased by $774 (-42.42%) year-over-year from $1,824 to $1,050. 2-bedroom rentals prices have decreased by $361 (-17.74%) year-over-year from $2,033 to $1,673. 3-bedroom rentals prices have increased by $38 (1.92%) year-over-year from $1,958 to $1,995. 4-bedroom rentals prices have increased by $43 (1.76%) year-over-year from $2,457 to $2,500. 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 down by 23.25% this month. 1-bedroom rents have gone down by 28.81% this month. 2-bedroom rents have gone down by 11.58% this month. 3-bedroom rents have gone up by 0.76% this month. 4-bedroom rents have gone up by 0.68% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$1.55	$985	$1,608 (-38.74%)	$1,439 (-31.55%)
1 BR	$2.13	$1,050	$1,824 (-42.42%)	$1,635 (-35.77%)
2 BR	$1.44	$1,673	$2,033 (-17.74%)	$1,779 (-5.98%)
3 BR	$1.18	$1,995	$1,958 (1.92%)	$1,628 (22.52%)
4+ BR	$1.05	$2,500	$2,457 (1.76%)	$2,006 (24.64%)

Historical Rents in Wake, NC

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Wake

There are a total of 4 cities nearby Wake. The average rent in Wake is currently $1,963 per month. A total of 3 cities nearby have an average rent lower than that. Our records show that Fayetteville, NC, with an average rent of $1,295, is the most affordable city nearby. In contrast, the most expensive city near Wake, NC is Cary, NC. Monthly rents here are on average $2,200 per month.

Let's compare Wake, NC's rent against other top cities nearby by bedroom size. Typically, rent for studios in Wake, NC is 18.13% more expensive than other cities nearby. One bedrooms are about 20.19% more expensive. Two bedrooms in Wake, NC are about 0.15% more expensive. Finally, rent for three bedrooms are on par with the other cities nearby. Want more information? Check out the top 4 cities near Wake, NC in the following chart.

City	Studio	1 Bed	2 Bed	All
Fayetteville, NC	N/A	$823	$995	$1,295
Raleigh, NC	$1,650	$1,366	$1,695	$1,900
Durham, NC	$1,298	$1,685	$1,800	$2,025
Cary, NC	$1,900	N/A	$1,700	$2,200

Top Neighborhoods Near Wake

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Wake

Some of these counties include Cumberland, NC, Johnston, NC, and Orange, NC. The average rent for rentals in these counties is $1,845. That's roughly around $1 per sqft. A total of 3 counties have a lower average rent. The county that is the most affordable is Cumberland, NC. It's average rent per month is $1,295. Vice versa, with an average rent of $2,600, Moore, NC is the most expensive county by Wake, NC.

Typically, rent for studios in Wake, NC is 27.78% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Wake, NC is 11.01% more expensive than other counties nearby. Finally, rent for two bedrooms in Wake, NC is 1.47% more expensive than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Cumberland, NC	N/A	$800	$995	$1,295
Johnston, NC	$2,898	$1,220	$1,440	$1,670
Orange, NC	N/A	$1,375	$1,675	$1,845
Durham, NC	$1,300	$1,660	$1,800	$2,100
Moore, NC	$362,500	N/A	$2,350	$2,600

Top Zipcodes Near Wake

There are a total of 10 zipcodes in or near Wake, NC. The average rent for all of these zipcodes is $1,949. A total of 6 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 28303, Fayetteville, NC at $999 per month. In comparison, the zipcode with the most expensive average rent of $2,400 per month is 27519, Cary, NC.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Wake, NC is $325 per month. Or in other words, $0 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,695 per month. Which comes out to $1 per sqft. The following chart includes the top 10 zipcodes in Wake, NC. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
27560, Morrisville, NC	N/A	N/A	$1,748	$2,148
27519, Cary, NC	N/A	N/A	$1,795	$2,400
28303, Fayetteville, NC	N/A	$650	$910	$999
27502, Wake County, NC	N/A	N/A	$1,695	$2,300
27610, Raleigh, NC	N/A	N/A	$1,495	$1,850
27703, Durham County, NC	N/A	N/A	$1,695	$2,198
27603, Garner, NC	N/A	$1,350	$2,025	$2,000
27616, Raleigh, NC	N/A	$1,250	$1,595	$1,895
27520, Johnston County, NC	N/A	$1,125	$1,395	$1,773
27701, Durham, NC	$1,298	$1,784	$2,495	$1,897

Frequently Asked Questions - Wake Average Rents

What is the average rent price in Wake, NC?

The average monthly rental price for Wake, NC apartments for rent is approximately $2,100. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Wake, 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 Wake, NC.

How much is a studio apartment in Wake, NC?

The average monthly rental price for studio apartments is $1,800 and an average price per square feet of $1.55. There are a total of 13 studio apartment listings currently available for rent in Wake.

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

The average monthly rental price for one bedroom apartments is $1,371 and an average price per square feet of $2.13. There are a total of 44 one bedroom apartment listings currently available for rent in Wake.

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

The average monthly rental price for two bedroom apartments is $1,700 and an average price per square feet of $1.44. There are a total of 153 two bedroom apartment listings currently available for rent in Wake.

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

Rent prices for rentals in Wake, NC can fluctuate yearly. Specifically, studio rental prices have changed by -0.39%, one bedroom rental prices have changed by -0.42%, two bedroom rental prices have changed by -0.18%, and three bedroom rental prices have changed by 0.02% year-over-year.

What is a reasonable rent price in Wake, NC?

A reasonable rent price in Wake, NC is around $1,680/month. You can search for these reasonably priced rental listings on RentHop.