How many apartments are available in Raleigh, NC on Rentable.co?

Rentable.co has over 29,902 apartments available in Raleigh.

What is the average rent for a studio apartment in Raleigh, NC?

The average rent for a studio apartment in Raleigh is around $1,540 per month.

What is the average rent for a one-bedroom apartment in Raleigh, NC?

The average rent for a one-bedroom apartment in Raleigh is around $1,240 per month.

What is the average rent for a two-bedroom apartment in Raleigh, NC?

The average rent for a two-bedroom apartment in Raleigh is around $1,600 per month.

How expensive is living in Raleigh, NC?

Based on average rent prices in Raleigh, to afford a studio apartment you would need an annual salary of $62,000 to live comfortably.

Apartments in Cross Gate Raleigh

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Raleigh:
May Rent Report

Welcome to the May 2023 Raleigh Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2023 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

Raleigh Rent Prices Increase From April to May

Raleigh rent prices increased over the last month. From April to May, the city experienced a 0.89% increase for the price of a one-bedroom apartment. The rent price for a Raleigh one-bedroom apartments currently stands at $1,024.0.

When we take a look at the two-bedroom comparison from April to May, Raleigh experienced a 1.06% increase for the price of a two-bedroom apartment. The rent price for a Raleigh two-bedroom apartments currently stands at $1,619.0.

May Prices: Raleigh vs. Surrounding Areas

Rent Prices in Raleigh and Surrounding Areas

Rent prices have increased 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 2 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 Cary, NC, Morrisville, NC .
Rent decreased in Apex, NC, Clayton, NC, Wake Forest, NC, Garner, NC.
6 suburbs are currently priced higher than the city of Raleigh.

May 2023 Pricing Trends: Raleigh vs. National Comparisons

Raleigh Rent Prices More Affordable Than Major Cities

Rent growth in Raleigh over the past year has been on the rise. 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 May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
Raleigh, NC	$1,015.0	0.00%	$1,602.0	0.00%
Cary, NC	$1,607.0	0.13%	$1,910.0	-0.05%
Morrisville, NC	$1,427.0	2.29%	$1,773.0	0.34%
Apex, NC	$1,394.0	-0.99%	$1,627.0	0.37%
Clayton, NC	$1,323.0	-0.60%	$1,586.0	0.96%
Wake Forest, NC	$1,667.0	-1.36%	$1,966.0	0.56%
Garner, NC	$1,480.0	-2.05%	$1,703.0	1.67%

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.