81 Apartments under 900 for rent in Morrisville, NC

Last updated November 24 at 2:27pm UTC
Results within 1 miles of Morrisville, NC
605 Middleton Avenue
Cary
Cary, NC
Updated November 21 at 5:36pm UTC
1 Bedroom
$699
Results within 5 miles of Morrisville, NC
103 Marbury Ct Apt Lb
Northwoods
Cary, NC
Updated November 23 at 12:15pm UTC
2 Bedrooms
$875
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November 2017 Morrisville Rent Report

Welcome to the November 2017 Morrisville Rent Report. Morrisville rents declined 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

November 2017 Morrisville Rent Report

Welcome to the November 2017 Morrisville Rent Report. Morrisville rents declined 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 declined over the past month

Morrisville rents have declined 0.7% over the past month, but have increased significantly by 5.8% in comparison to the same time last year. Currently, median rents in Morrisville stand at $1,150 for a one-bedroom apartment and $1,340 for a two-bedroom. Morrisville's year-over-year rent growth leads 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 Morrisville, 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).

Many large cities nationwide show more affordable rents compared to Morrisville

As rents have increased significantly in Morrisville, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Compared to most large cities across the country, Morrisville is less affordable for renters.

  • Morrisville's median two-bedroom rent of $1,340 is above the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 5.8% increase in Morrisville.
  • While Morrisville's rents rose significantly over the past year, some cities nationwide saw decreases, including New York (-0.2%) and Miami (-0.2%).
  • Renters will generally find more expensive prices in Morrisville than most large cities. For example, Detroit has a median 2BR rent of $890, where Morrisville is more than one-and-a-half times that price.

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.