Carrboro renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Carrboro is about $1,248 per month. This puts it in the 92nd percentile compared to the state average cost of rent, which is $1,066. Households in Carrboro have a median income of $7,908 per month so the average renter in Carrboro is spending roughly 16% of their earnings on housing.
Nationally, and in Carrboro, home values are the data point most closely correlated with the cost of rent. The median price of a home in Carrboro is $437,506 right now, which is higher than nearby cities, meaning that rents in Carrboro also tend to be higher versus these nearby cities.
Higher rent prices are common in the northeastern parts of Carrboro while lower rent rates are often available in southwestern areas.
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