Apartments in Bartons Creek Bluffs Raleigh

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$792
Durham, NC
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$792
5547 Spindlewood Ct Durham, NC
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19
$755
Durham, NC
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$845 - 1,025
1004 Greatland Rd Durham, NC
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Raleigh:
April Rent Report

Welcome to the April 2024 Raleigh Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2024 key findings and figures for the Raleigh rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Raleigh and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Raleigh average rent prices in the chart below.

Monthly Rent Report

$1,750
$1,310
$880
$440
$0
Apr. 2023
May. 2023
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
1 BR       2 BR

Raleigh Rent Prices Decrease From March to April

Raleigh rent prices decreased over the last month. From March to April, the city experienced a -0.76% decrease for the price of a one-bedroom apartment. The rent price for a Raleigh one-bedroom apartments currently stands at $1,040.0.

When we take a look at the two-bedroom comparison from March to April, Raleigh experienced a -0.19% decrease for the price of a two-bedroom apartment. The rent price for a Raleigh two-bedroom apartments currently stands at $1,606.0.

April Prices: Raleigh vs. Surrounding Areas

Wake Forest, NC
Garner, NC
Morrisville, NC
Cary, NC
Apex, NC
Knightdale, NC
Clayton, NC
Raleigh, NC
$1,547
$1,442
$1,415
$1,375
$1,329
$1,309
$1,247
$1,040
$0
$550
$1,100
$1,650
$2,200
Median 1 BR Rent

Rent Prices in Raleigh and Surrounding Areas

Rent prices have decreased in Raleigh over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Raleigh suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Morrisville, NC, Apex, NC, Garner, NC .

  • Rent decreased in Cary, NC, Clayton, NC, Wake Forest, NC, Knightdale, NC.

  • 7 suburbs are currently priced higher than the city of Raleigh.

April 2024 Pricing Trends: Raleigh vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Minneapolis, MN
Columbus, OH
Pittsburgh, PA
Raleigh, NC
$3,994
$3,038
$2,355
$2,347
$1,893
$1,300
$1,264
$1,145
$1,040
$0
$1,300
$2,600
$3,900
$5,200
Median Rent

Raleigh Rent Prices More Affordable Than Major Cities

Rent growth in Raleigh over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Raleigh average rent prices appear to be relatively affordable for local residents.

The price for a Raleigh one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Raleigh and surrounding area rent prices, take a look at the complete data set below.

Data set for Raleigh and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change
Raleigh, NC $1,040.0 -0.76% $1,606.0 -0.19%
Cary, NC $1,375.0 -0.65% $1,707.0 -0.12%
Morrisville, NC $1,415.0 0.07% $1,752.0 0.57%
Apex, NC $1,329.0 4.98% $1,719.0 2.63%
Clayton, NC $1,247.0 -1.50% $1,623.0 0.00%
Wake Forest, NC $1,547.0 -5.03% $1,816.0 -2.31%
Garner, NC $1,442.0 0.42% $1,623.0 -0.12%
Knightdale, NC $1,309.0 -2.02% $1,523.0 -4.93%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.