Winston-salem Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Winston-Salem, NC. Currently, the overall median rent in the city stands at $1,090, roughly the same as last month. Prices remain down 1.6% 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 down 1.6% year-over-year

The median rent in Winston-Salem rose by 0.0% over the course of March, and has now decreased by a total of 1.6% over the past 12 months. Winston-Salem’s rent growth over the past year has is similar to both the state (-2.4%) and national averages (-0.8%).

Winston-Salem rent growth in 2024 pacing below last year

Three months into the year, rents in Winston-Salem have fallen 0.1%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 0.6%.

March rent growth in Winston-Salem ranked #84 among large U.S. cities

Winston-Salem rents went up 0.0% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #84. Similar monthly rent growth took place in Plano, TX (0.0%) and Indianapolis, IN (-0.2%).

Winston-Salem is the #85 most expensive large city in the U.S., with a median rent of $1,090

Citywide, the median rent currently stands at $891 for a 1-bedroom apartment and $1,057 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,090. That ranks #85 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in Winston-Salem is 21.4% lower than the national, and is similar to the prices you would find in El Paso, TX ($1,114) and Lexington, KY ($1,088).