If you’re a renter, you could get a decent bang for your buck in Raleigh, at least compared with the country’s largest cities.
In Raleigh proper, the average price per square foot is $1.02, meaning that $1,500 will get you 1,470 square feet, according to a study by apartment rental website Apartment List.
In the Raleigh metro overall, the average price per square foot is $0.92, meaning that $1,500 will get you 1,630 square feet.
For comparison, San Francisco is the most expensive of the nation’s largest cities at $4.40 per square foot – so the average $1,500 apartment there is only 340 square feet.
In New York, you’d get about 10 square feet more for the same price.
Cary does a bit better than Raleigh, with $1,500 getting you about 1,580 square feet.
Charlotte is next, with 1,430 square feet for the same price.
Durham is a bit more expensive with 1,380 square feet costing $1,500, while in Chapel Hill, the same price per month gets you about 110 fewer square feet.
If you’re looking to locate in the Triangle, especially around Raleigh, the suburbs might be a better deal.
Garner gets you 1,830 square feet for $1,500. Knightdale gets you a little less – 1,780 square feet. Apex is close at just 50 fewer square feet.
Clayton – just across the Wake County border in Johnston County – has the best deal at 1,930 square feet for $1,500.
In North Carolina overall, $1,500 gets you about 1,680 square feet – meaning Raleigh is just above state average for rent prices, and Charlotte is higher. North Carolina’s average cost per square foot is about $0.89.
Neighbors to the north and south, South Carolina and Virginia, are both more expensive. Virginia has an average of $1.39 per square foot while South Carolina is about $1.02.
For more information, go to www.apartmentlist.com/rentonomics/where-do-renters-get-the-most-for-their-money.