What Millennials Can Expect To Pay in Rent in Charlotte and 5 Other North Carolina Cities

The average rental cost for a one-bedroom apartment in Greensboro, Winston-Salem or Fayetteville is typically under $1,000 per month. However, if you’re a millennial you need to be prepared to pay 11.5% more on average for housing across these and three more North Carolina cities.

This percentage is part of key findings from a recent GOBankingRates study analyzing the average rental cost across major U.S. cities. Supporting data factored in came from the U.S. Census American Community Survey, Sperling’s BestPlaces, ApartmentList and the Zillow Home Value Index. We added the 11.5% to the average one- and two-bedroom rent in six North Carolina cities and rounded up to the nearest dollar amount.

Keep reading to find out how much millennials pay for rent in six popular North Carolina cities.

• Average one-bedroom rent: $1,468
• Average two-bedroom rent: $1,601

• Average one-bedroom rent: $1,404
• Average two-bedroom rent: $1,601

• Average one-bedroom rent: $1,114
• Average two-bedroom rent: $1,241

• Average one-bedroom rent: $1,338
• Average two-bedroom rent: $1,558

• Average one-bedroom rent: $1,010
• Average two-bedroom rent: $1,199

• Average one-bedroom rent: $1,007
• Average two-bedroom rent: $1,170

Methodology: For this study, GOBankingRates analyzed the average rental costs for major U.S. cities and the cost of living in those cities. GBR first sourced the 100 most populated cities from the U.S. Census American Community Survey. Additional information gathered for each city included total population, total households, population ages 65 and over and household median income. Cost-of-living indexes were sourced from Sperling’s BestPlaces. The average overall rental cost, one-bedroom rental cost, and 2-bedroom rental cost were sourced from ApartmentList. The average cost of a condo or co-op was sourced from the Zillow Home Value Index. The livability index was sourced from AreaVibes. GBR used the cost-of-living indexes and the national average expenditure costs for all residents (sourced from the Bureau of Labor Statistics Consumer Expenditure Survey). Using the average condo/co-op value, assuming a 10% downpayment, and using the national average 30-year fixed mortgage rate, the average mortgage was calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city was calculated. All data is up to date as of Sept. 13, 2024.