Zip codes with the fastest growing rent in North Carolina

Written by:
March 25, 2021
realtor.com

Zip codes with the fastest growing rent in North Carolina

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in North Carolina using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in North Carolina

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in North Carolina using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 27527 (Clayton)

- 1 year rent change: +6.8%
--- #6 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +18.4%
- Typical rent: $1,659
--- 7.7% above typical rent in Raleigh, NC metro

- Pictured (for rent): 56 Bent Branch Loop, Clayton 27527 ($1,500)

#29. 28027 (Concord)

- 1 year rent change: +6.9%
--- #15 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +22.8%
- Typical rent: $1,490
--- 3.1% less than typical rent in Charlotte, NC metro

- Pictured (for rent): 2024 Barr Rd, Concord 28027 ($1,950)

#28. 27265 (High Point)

- 1 year rent change: +6.9%
--- #4 fastest growing rent among zip codes in Greensboro, NC metro
- 5 year rent change: +19.5%
- Typical rent: $1,458
--- 12.2% above typical rent in Greensboro, NC metro

- Pictured (for rent): 2522 Suffolk Ave, High Point 27265 ($810)

#27. 27529 (Garner)

- 1 year rent change: +7.0%
--- #5 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +25.2%
- Typical rent: $1,522
--- 1.2% less than typical rent in Raleigh, NC metro

- Pictured (for rent): 1030 Element Cir, Garner 27529 ($1,509)

#26. 27545 (Knightdale)

- 1 year rent change: +7.0%
--- #4 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +24.9%
- Typical rent: $1,666
--- 8.1% above typical rent in Raleigh, NC metro

- Pictured (for rent): 1001 Greystone Common Dr, Knightdale 27545 ($1,320)

#25. 27610 (Raleigh)

- 1 year rent change: +7.0%
--- #3 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +28.3%
- Typical rent: $1,520
--- 1.4% less than typical rent in Raleigh, NC metro

- Pictured (for rent): 2015 Wave Crest Dr, Raleigh 27610 ($1,718)

#24. 27406 (Greensboro)

- 1 year rent change: +7.2%
--- #3 fastest growing rent among zip codes in Greensboro, NC metro
- 5 year rent change: +26.2%
- Typical rent: $1,391
--- 7.0% above typical rent in Greensboro, NC metro

- Pictured (for rent): 1015 Glendale Dr, Greensboro 27406 ($829)

#23. 27526 (Fuquay Varina)

- 1 year rent change: +7.2%
--- #2 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +21.4%
- Typical rent: $1,645
--- 6.7% above typical rent in Raleigh, NC metro

- Pictured (for rent): 141 Stobhill Ln, Fuquay Varina 27526 ($1,440)

#22. 28079 (Indian Trail)

- 1 year rent change: +7.3%
--- #14 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +19.9%
- Typical rent: $1,714
--- 11.4% above typical rent in Charlotte, NC metro

- Pictured (for rent): 1021 Glenn Valley Ln, Indian Trail 28079 ($1,733)

#21. 27104 (Winston Salem)

- 1 year rent change: +7.3%
--- #5 fastest growing rent among zip codes in Winston-Salem, NC metro
- 5 year rent change: +26.9%
- Typical rent: $1,178
--- 9.7% less than typical rent in Winston-Salem, NC metro

- Pictured (for rent): 4981 Hunt Club Rd, Winston Salem 27104 ($833)

#20. 28217 (Charlotte)

- 1 year rent change: +7.3%
--- #13 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +29.8%
- Typical rent: $1,369
--- 11.0% less than typical rent in Charlotte, NC metro

- Pictured (for rent): 2340 Apex Landing Way, Charlotte 28217 ($933)

#19. 28037 (Denver)

- 1 year rent change: +7.4%
--- #12 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +23.0%
- Typical rent: $1,757
--- 14.2% above typical rent in Charlotte, NC metro

- Pictured (for rent): 6857 Riverwalk Loop, Denver 28037 ($1,422)

#18. 28134 (Pineville)

- 1 year rent change: +7.6%
--- #11 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +26.9%
- Typical rent: $1,775
--- 15.4% above typical rent in Charlotte, NC metro

- Pictured (for rent): 12821-12920 Meadow Creek Ln, Pineville 28134 ($1,519)

#17. 28054 (Gastonia)

- 1 year rent change: +7.7%
--- #10 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +32.0%
- Typical rent: $1,497
--- 2.7% less than typical rent in Charlotte, NC metro

- Pictured (for rent): 1100 Robinwood Rd, Gastonia 28054 ($1,175)

#16. 28105 (Matthews)

- 1 year rent change: +7.7%
--- #9 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +27.7%
- Typical rent: $1,619
--- 5.3% above typical rent in Charlotte, NC metro

- Pictured (for rent): 905 Matthews Commons Dr, Matthews 28105 ($1,703)

#15. 28227 (Charlotte)

- 1 year rent change: +8.0%
--- #8 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +31.4%
- Typical rent: $1,544
--- 0.4% above typical rent in Charlotte, NC metro

- Pictured (for rent): 9023 E W T Harris Blvd, Charlotte 28227 ($1,200)

#14. 27106 (Winston Salem)

- 1 year rent change: +8.3%
--- #4 fastest growing rent among zip codes in Winston-Salem, NC metro
- 5 year rent change: +24.2%
- Typical rent: $1,350
--- 3.5% above typical rent in Winston-Salem, NC metro

- Pictured (for rent): 7835 N Point Blvd, Winston Salem 27106 ($1,200)

#13. 27455 (Greensboro)

- 1 year rent change: +8.5%
--- #2 fastest growing rent among zip codes in Greensboro, NC metro
- 5 year rent change: +31.0%
- Typical rent: $1,420
--- 9.2% above typical rent in Greensboro, NC metro

- Pictured (for rent): 515 Carowill Dr, Greensboro 27455 ($1,049)

#12. 27520 (Clayton)

- 1 year rent change: +8.6%
--- #1 fastest growing rent among zip codes in Raleigh, NC metro
- 5 year rent change: +32.2%
- Typical rent: $1,515
--- 1.7% less than typical rent in Raleigh, NC metro

- Pictured (for rent): 950 Parkside Village Dr, Clayton 27520 ($1,533)

#11. 27105 (Winston Salem)

- 1 year rent change: +8.7%
--- #3 fastest growing rent among zip codes in Winston-Salem, NC metro
- 5 year rent change: +23.5%
- Typical rent: $888
--- 31.9% less than typical rent in Winston-Salem, NC metro

- Pictured (for rent): 5045 Eltha Dr, Winston Salem 27105 ($910)

#10. 28269 (Charlotte)

- 1 year rent change: +8.8%
--- #7 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +29.2%
- Typical rent: $1,635
--- 6.3% above typical rent in Charlotte, NC metro

- Pictured (for rent): 9246 Highland Creek Pkwy, Charlotte 28269 ($2,472)

#9. 28025 (Concord)

- 1 year rent change: +8.9%
--- #6 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +31.5%
- Typical rent: $1,532
--- 0.4% less than typical rent in Charlotte, NC metro

- Pictured (for rent): 100 Kingsport Dr NE, Concord 28025 ($1,170)

#8. 28110 (Monroe)

- 1 year rent change: +9.1%
--- #5 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +25.6%
- Typical rent: $1,601
--- 4.1% above typical rent in Charlotte, NC metro

- Pictured (for rent): 2525 Woodbrook Ln, Monroe 28110 ($1,220)

#7. 27107 (Winston Salem)

- 1 year rent change: +9.2%
--- #2 fastest growing rent among zip codes in Winston-Salem, NC metro
- 5 year rent change: +21.2%
- Typical rent: $1,320
--- 1.2% above typical rent in Winston-Salem, NC metro

- Pictured (for rent): 4825 Wallburg Landing St, Winston Salem 27107 ($895)

#6. 27127 (Winston Salem)

- 1 year rent change: +9.3%
--- #1 fastest growing rent among zip codes in Winston-Salem, NC metro
- 5 year rent change: +31.8%
- Typical rent: $1,384
--- 6.1% above typical rent in Winston-Salem, NC metro

- Pictured (for rent): 1901 Falcon Pointe Dr, Winston Salem 27127 ($998)

#5. 27405 (Greensboro)

- 1 year rent change: +9.4%
--- #1 fastest growing rent among zip codes in Greensboro, NC metro
- 5 year rent change: +27.1%
- Typical rent: $1,254
--- 3.5% less than typical rent in Greensboro, NC metro

- Pictured (for rent): 1700 Fairview St, Greensboro 27405 ($1,440)

#4. 28031 (Cornelius)

- 1 year rent change: +9.7%
--- #4 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +27.2%
- Typical rent: $1,656
--- 7.7% above typical rent in Charlotte, NC metro

- Pictured (for rent): 19401 Carrington Club Dr, Cornelius 28031 ($1,613)

#3. 28214 (Charlotte)

- 1 year rent change: +10.1%
--- #3 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +33.7%
- Typical rent: $1,563
--- 1.6% above typical rent in Charlotte, NC metro

- Pictured (for rent): 7227 Waldon Park Ln, Charlotte 28214 ($1,695)

#2. 28083 (Kannapolis)

- 1 year rent change: +10.5%
--- #2 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +36.5%
- Typical rent: $1,384
--- 10.0% less than typical rent in Charlotte, NC metro

- Pictured (for rent): 101 Three Mile Loop, Kannapolis 28083 ($1,395)

#1. 28215 (Charlotte)

- 1 year rent change: +10.7%
--- #1 fastest growing rent among zip codes in Charlotte, NC metro
- 5 year rent change: +39.2%
- Typical rent: $1,580
--- 2.7% above typical rent in Charlotte, NC metro

- Pictured (for rent): 13625 Haven Ridge Ln, Charlotte 28215 ($1,497)

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