Raleigh market rental trends report

Over the past 3 to 6 months, rents in Raleigh have continued to edge upward across most unit types, with median rents rising especially in studios and one-bedroom units. According to a recent market trends report, median studio rents rose ~15.1 %, one-bedroom ~10 %, two-bedroom ~6.3 %, and three-bedroom ~9.1 % over the last half-year. The upward pressure has largely been driven by strong population and job growth in the Triangle region, constrained new housing supply in desirable submarkets, and persistent demand from renters delaying home purchases amid interest rate uncertainty. Today, the median rent across Raleigh’s rental market is approximately $1,702/month.

Apartment listings

Below are some recent listing examples.

The Lincoln

• Studio/1 Bath
• Sq Ft: 553
• Rent: $1,155

Wakefield Glen Apartments

• 1 Bed/1 Bath
• Sq Ft: 1,050
• Rent: $1,345

Prose New Hope Apartments

• 2 Beds/2 Baths
• Sq Ft: 1,188
• Rent: $1,595

Skyhouse Raleigh

• 3 Beds/2 Baths
• Sq Ft: 1,508
• Rent: $2,232

(Data sourced from Apartments.com)