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 Q2 2023.

Summary - Year-Over-Year Rent Change

This rental market report highlights the Q2 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, Raleigh had the largest year-over-year rent price increase of 10%, while Asheville had the smallest increase of 2%. 

Methodology

• Geography: This report considers rent changes in Rentometer’s five most analyzed SFR markets in North Carolina during Q2 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 Q2 2023:

• The average Raleigh rent price is $2,058 with a year-over-year rent price increase of 10%
• The average Durham rent price is $2,223 with a year-over-year rent price increase of 9%
• The average Concord rent price is $1,878 with a year-over-year rent price increase of 7%
• The average Charlotte rent price is $1,984 with a year-over-year rent price increase of 6%
• The average Asheville rent price is $2,637 with a year-over-year rent price increase of 2%

 

City/State	Q2 2022 Average Rent	Q2 2023 Average Rent	YoY % Change
Raleigh, NC	$1,864	$2,058	10%
Durham, NC	$2,040	$2,223	9%
Concord, NC	$1,749	$1,878	7%
Charlotte, NC	$1,875	$1,984	6%
Asheville, NC	$2,575	$2,637	2%

 

 

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