5 Apartments under 500 for rent in Greensboro, NC

Last updated November 17 at 6:09pm UTC
717 Chestnut St
Charles Aycock - Summit Ave
Greensboro, NC
Updated November 16 at 12:26pm UTC
1 Bedroom
$450
Results within 5 miles of Greensboro, NC
1019 Richland Street, Unit A
High Point
High Point, NC
Updated November 11 at 10:40am UTC
1 Bedroom
$450
Results within 20 miles of Greensboro, NC
106 Greenwood Street
Eden
Eden, NC
Updated September 27 at 9:09am UTC
2 Bedrooms
$450
2824 Teakwood Ct
Town and Country Estates
Winston-Salem, NC
Updated November 17 at 6:09pm UTC
1 Bedroom
$495
126 S Beaumont Ave
Burlington
Burlington, NC
Updated November 17 at 6:07pm UTC
1 Bedroom
$425
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November 2017 Greensboro Rent Report

Welcome to the November 2017 Greensboro Rent Report. Greensboro rents remained steady over the past month. In this report, we'll evaluate trends in the Greensboro rental market, including comparisons to cities throughout the state and nation.

View full Greensboro Rent Report
Rent Report
Greensboro

November 2017 Greensboro Rent Report

Welcome to the November 2017 Greensboro Rent Report. Greensboro rents remained steady over the past month. In this report, we'll evaluate trends in the Greensboro rental market, including comparisons to cities throughout the state and nation.

Greensboro rents held steady over the past month

Greensboro rents have remained flat over the past month, however, they are up moderately by 2.4% year-over-year. Currently, median rents in Greensboro stand at $710 for a one-bedroom apartment and $840 for a two-bedroom. Greensboro's year-over-year rent growth lags the state average of 3.6%, as well as the national average of 2.7%.

Rents rising across cities in North Carolina

Throughout the past year, rent increases have been occurring not just in the city of Greensboro, but across the entire state. Of the largest 10 cities that we have data for in North Carolina, all of them have seen prices rise. The state as a whole logged rent growth of 3.6% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Cary is the most expensive of all North Carolina's major cities, with a median two-bedroom rent of $1,220; of the 10 largest North Carolina cities that we have data for, all have seen rents rise year-over-year, with Fayetteville experiencing the fastest growth (+5.7%).
  • Wilmington, Winston-Salem, and Cary have all experienced year-over-year growth above the state average (4.6%, 4.3%, and 3.8%, respectively).

Greensboro rents more affordable than many large cities nationwide

As rents have increased moderately in Greensboro, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Greensboro is still more affordable than most large cities across the country.

  • Greensboro's median two-bedroom rent of $840 is below the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 2.4% rise in Greensboro.
  • While Greensboro's rents rose moderately over the past year, some cities nationwide saw decreases, including New York (-0.2%) and Miami (-0.2%).
  • Renters will find more reasonable prices in Greensboro than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than three-and-a-half times the price in Greensboro.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start 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, comparing only units that are available across both time periods 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. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.