3 Apartments under 500 for rent in Winston-Salem, NC

Last updated September 19 at 10:02AM
2824 Teakwood Ct
Town and Country Estates
Winston-Salem, NC
Updated September 19 at 10:02AM
1 Bedroom
$495
Results within 10 miles of Winston-Salem, NC
3601 Busic Ave
Lowdermilk Area
Greensboro, NC
Updated September 19 at 1:44AM
2 Bedrooms
$485
Results within 20 miles of Winston-Salem, NC
10 JASPER STREET
Thomasville
Thomasville, NC
Updated September 7 at 10:04AM
2 Bedrooms
$475
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Rent Report
Winston-Salem

September 2017 Winston-Salem Rent Report

Welcome to the September 2017 Winston-Salem Rent Report. Winston-Salem rents increased over the past month. In this report, we'll evaluate trends in the Winston-Salem rental market, including comparisons to similar cities nationwide.

Winston-Salem rents increased significantly over the past month

Winston-Salem rents have increased 0.5% over the past month, and have increased significantly by 4.9% in comparison to the same time last year. Currently, median rents in Winston-Salem stand at $640 for a one-bedroom apartment and $780 for a two-bedroom. This is the sixth straight month that the city has seen rent increases after a decline in February. Winston-Salem's year-over-year rent growth leads the state average of 4.3%, as well as the national average of 3.0%.

Winston-Salem rents more affordable than many large cities nationwide

As rents have increased in Winston-Salem, a few large cities nationwide have seen also rents grow more modestly. Winston-Salem is still more affordable than most large cities across the country.

  • Rents also increased in other cities across the state, with North Carolina as a whole logging rent growth of 4.3% over the past year.
  • Winston-Salem's median two-bedroom rent of $780 is below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 4.9% increase in Winston-Salem.
  • While Winston-Salem's rents rose over the past year, many cities nationwide also saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Charlotte (+3.9%).
  • Renters will find more reasonable prices in Winston-Salem than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is nearly four times the price in Winston-Salem.

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.