Rental Market Reports > Single-Family Home Reports > North Carolina

This rental market report examines the average rent in North Carolina for five of the most analyzed cities on Rentometer in Q3 2023.

Summary - Year-Over-Year Rent Change

This rental market report highlights the Q3 2023 average rent prices for three-bedroom (3-BR) single-family rentals (SFRs) in these five North Carolina cities: Raleigh, Durham, Concord, Charlotte, and Asheville.

According to our data, Durham had the largest year-over-year rent price increase of 8%, while Asheville had no significant change in rent price.

Methodology

• Geography: This report considers rent changes in Rentometer’s five most analyzed SFR markets in North Carolina during Q3 2023.

• Property Type: 3-BR SFRs with all bathroom counts.

• Analysis: Rent data was analyzed year-over-year for each city.

• Data: New rents collected at the beginning and end of each quarter are reported, excluding outliers below $500 and above $10,000.

Year-Over-Year Change in Average Rent: 3-BR SFRs

Rent prices in these five North Carolina cities experienced the following year-over-year rent increases in Q3 2023:

• The average Durham rent price is $2,141 with a year-over-year rent price increase of 8%
• The average Charlotte rent price is $2,081 with a year-over-year rent price increase of 7%
• The average Raleigh rent price is $2,096 with a year-over-year rent price increase of 3%
• The average Concord rent price is $1,852 with a year-over-year rent price increase of 1%
• The average Asheville rent price is $2,705 with no year-over-year rent price change.

 

City/State	Q3 2022 Average Rent	Q3 2023 Average Rent	YoY % Change
Durham, NC	$1,977	$2,141	8%
Charlotte, NC	$1,951	$2,081	7%
Raleigh, NC	$2,026	$2,096	3%
Concord, NC	$1,833	$1,852	1%
Asheville, NC	$2,694	$2,705	-

 

 

 

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