Winston-Salem, NC Rental Market Trends
Winston-salem Rent Report: November 2024
Welcome to the Apartment List November 2024 Rent Report for Winston-Salem, NC. Currently, the overall median rent in the city stands at $1,151, roughly the same as last month. Prices and are now up 1.7% year-over-year. Read on to learn more about what’s been happening in the Winston-Salem rental market and how it compares to trends throughout the nation as a whole.
Winston-salem rents are flat month-over-month and up 1.7% year-over-year
The median rent in Winston-Salem rose by 0.0% over the course of October, and has now increased by a total of 1.7% over the past 12 months. Winston-Salem’s rent growth over the past year has has outpaced both state (-2.8%) and national (-0.7%) averages.
Winston-Salem rent growth in 2024 pacing above last year
Ten months into the year, rents in Winston-Salem have risen 5.9%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to October 2023 rents had increased 3.1%.
October rent growth in Winston-Salem ranked #10 among large U.S. cities
Winston-Salem rents went up 0.0% in the past month, compared to the national rate of -0.7%. Among the nation's 100 largest cities, this ranks #10. Similar monthly rent growth took place in Scottsdale, AZ (0.1%) and Lexington, KY (0.0%).
Winston-Salem is the #83 most expensive large city in the U.S., with a median rent of $1,151
Citywide, the median rent currently stands at $940 for a 1-bedroom apartment and $1,116 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,151. That ranks #83 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,225 for a 1-bedroom, $1,380 for a 2-bedroom, and $1,394 overall. The median rent in Winston-Salem is 17.5% lower than the national, and is similar to the prices you would find in Spokane, WA ($1,160) and Greensboro, NC ($1,144).
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
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