Gen Z Renters — What Rent Will Cost You in These 6 North Carolina Cities

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North Carolina has been a popular destination for Gen Z.

As more members of the “zoomer” generation — born between 1997 and 2012 — finish school and launch into their adult lives, many are taking advantage of the ability to work from just about anywhere. That includes North Carolina, which was the fourth-most popular state for Gen Z out-of-state movers in 2022, the most recent figures available. Those numbers come from a Zillow analysis of the U.S. Census American Community Survey.

In addition to some of the finest learning institutions and tech hubs in the country, the Tar Heel State offers a strong economy and living costs below the national average. North Carolina is also home to natural wonders like the Outer Banks, the Blue Ridge Parkway and Great Smoky Mountain National Park. There are possible cons to living in North Carolina as well, including vulnerability to extreme weather.

Zoomers may also appreciate reasonable rent costs. For members of Gen Z pondering a move to the Tar Heel State, it’s worth doing your homework on what you can expect to pay.

To lend a hand, GOBankingRates has analyzed data from six popular North Carolina cities, including rental costs, total population, a livability score and the average annual cost of living.

If North Carolina isn’t your dream destination, check out this list of the average rent costs in cities across the U.S.

Charlotte

• Total population: 875,045
• Livability score: 80
• Total annual cost of living: $40,970
• Average monthly rent overall: $1,448
• Average 1-bedroom monthly rent: $1,317
• Average 2-bedroom monthly rent: $1,436

Charlotte is North Carolina’s largest city and one of the fastest-growing cities in the United States. It boasts multiple professional sports teams, the NASCAR Hall of Fame, the Carowinds Amusement Park and numerous other attractions.

Durham

• Total population: 284,094
• Livability score: 82
• Total annual cost of living: $39,277
• Average monthly rent overall: $1,366
• Average 1-bedroom monthly rent: $1,200
• Average 2-bedroom monthly rent: $1,397

Part of the Research Triangle, historic Durham is home to Duke University and North Carolina Central University. It also boasts a strong music scene, the Nasher Museum of Art and multiple festivals throughout the year.

Fayetteville

• Total population: 208,697
• Livability score: 73
• Total annual cost of living: $36,610
• Average monthly rent overall: $1,140
• Average 1-bedroom monthly rent: $903
• Average 2-bedroom monthly rent: $1,049

You’ll find Fayetteville in the state’s southeastern region, about 130 miles east of Charlotte. The U.S. Army’s Fort Liberty installation is located here and is Fayetteville’s largest employer.

Greensboro

• Total population: 297,202
• Livability score: 83
• Total annual cost of living: $35,175
• Average monthly rent overall: $1,131
• Average 1-bedroom monthly rent: $999
• Average 2-bedroom monthly rent: $1,113

Located about an hour and 45 minutes northeast of Charlotte by car, Greensboro is North Carolina’s third-largest city. It combines a strong livability score with affordability, including one-bedroom apartments available for less than $1,000 a month.

Raleigh

• Total population: 465,517
• Livability score: 84
• Total annual cost of living: $40,207
• Average monthly rent overall: $1,429
• Average 1-bedroom monthly rent: $1,259
• Average 2-bedroom monthly rent: $1,436

Raleigh’s livability score of 84 is tops on this list. It’s the state capital, the largest city in the Research Triangle region and the home of North Carolina State University. It also boasts more than a dozen museums and the National Hockey League’s Carolina Hurricanes.

Winston-Salem

• Total population: 249,571
• Livability score: 63
• Total annual cost of living: $35,118
• Average monthly rent overall: $1,109
• Average 1-bedroom monthly rent: $906
• Average 2-bedroom monthly rent: $1,075

Home to Wake Forest University, Winston-Salem is sometimes called the “Twin City.” It is located about 90 minutes northeast of Charlotte and about a half-hour west of Greensboro.

Methodology: For this study, GOBankingRates analyzed the average rental costs for major U.S. cities and the cost of living in those cities. GOBankingRates 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, 1-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. GOBankingRates 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% down payment 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.

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