142 Apartments under 1100 for rent in Morrisville, NC

Last updated August 15 at 7:40am UTC
1121 Kudrow Lane
Morrisville
Morrisville, NC
Updated July 11 at 11:18pm UTC
2 Bedrooms
$995
Results within 1 miles of Morrisville, NC
Woodfield Weston Corners
6000 Elevate Circle
Cary, NC
Updated August 15 at 6:15am UTC
Studio
$1,095
1 Bedroom
$1,154
2 Bedrooms
$1,549
Results within 5 miles of Morrisville, NC

August 2018 Morrisville Rent Report

Welcome to the August 2018 Morrisville Rent Report. Morrisville rents increased over the past month. In this report, we'll evaluate trends in the Morrisville rental market, including comparisons to cities throughout the state and nation.

View full Morrisville Rent Report
Rent Report
Morrisville

August 2018 Morrisville Rent Report

Welcome to the August 2018 Morrisville Rent Report. Morrisville rents increased over the past month. In this report, we'll evaluate trends in the Morrisville rental market, including comparisons to cities throughout the state and nation.

Morrisville rents increased over the past month

Morrisville rents have remained steady over the past month, but have decreased moderately by 0.8% year-over-year. Currently, median rents in Morrisville stand at $1,130 for a one-bedroom apartment and $1,320 for a two-bedroom. Morrisville's year-over-year rent growth lags the state average of 0.9%, as well as the national average of 1.2%.

Rents rising across cities in North Carolina

While rent decreases have been occurring in the city of Morrisville over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in all of the largest 10 cities in North Carolina for which we have data. The state as a whole logged rent growth of 0.9% 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 $1,240; of the 10 largest North Carolina cities that we have data for, all have seen rents rise year-over-year, with Wilmington experiencing the fastest growth (+2.8%).
  • Winston-Salem, High Point, and Greensboro have all experienced year-over-year growth above the state average (2.5%, 2.5%, and 2.3%, respectively).

Morrisville rents more affordable than many large cities nationwide

As rents have fallen moderately in Morrisville, many large cities nationwide have seen prices increase, in some cases substantially. Morrisville is also more affordable than most large cities across the country.

  • Morrisville's median two-bedroom rent of $1,320 is above the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 0.8% decline in Morrisville.
  • While rents in Morrisville fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+2.4%), Atlanta (+1.8%), and San Francisco (+1.1%).
  • Renters will find more reasonable prices in Morrisville than most large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than twice the price in Morrisville.

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.