Rents continue to slow. Interactive map shows by how much for all Triangle ZIP codes
The pandemic-fueled spike in rental prices is fading, albeit slowly.
From January to March, rents have risen 0.5% in Raleigh, according to ApartmentList. Compare that to when rents jumped 1.9% over the same period this time last year.
In the Oak City, the median rent now stands at $1,291 a month for a one-bedroom apartment and $1,468 for a two-bedroom apartment. Year-over-year rent is still up 2.9%, but that’s a much smaller increase than the double-digit growth in rents between 2020 and 2021.
In Durham, rents have risen 1.8% since the start of the year to March, ApartmentList reported. This is a similar rate of growth compared to this time last year: from January to March 2022, rents increased 2.1%.
The Durham median rent stands at $1,186 for a one-bedroom apartment and $1,426 for a two-bedroom. Prices are now up 3.2% year-over-year.
Rents remain high
For a closer look across the Triangle, the interactive map below shows how rent has changed in nearly every ZIP code in the Triangle from March 2022 to March 2023, according to data from RentHub.
Here are some key takeaways:
- ZIP code 27510 in Carrboro saw the largest percentage decrease in median rent — 12.67% lower. The median rent is $1,275.
- ZIP code 27608 in Raleigh saw the second largest overall percentage decrease in median rent — 11.21% lower. Median rent is $2,059.
- ZIP code 27576 in Selma saw the largest overall percentage increase in median rent -- 29.44% higher. Median rent is $2,330.
- ZIP code 27278 in Hillsborough saw the second overall percentage increase in median rent — 24.09% higher. Median rent is $1,865.
