North Carolina 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 North Carolina is about $1,066 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in North Carolina have a median income of $5,795 per month so the average renter in North Carolina is spending roughly 18% of their earnings on housing.
Nationally, and in North Carolina, home values are the data point most closely correlated with the cost of rent. The median price of a home in North Carolina is $226,477 right now, which is lower than nearby states, meaning that rents in North Carolina also tend to be lower versus these nearby states.
Higher rent prices are common in the southwestern parts of North Carolina while lower rent rates are often available in northwestern areas.
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