Rents in Asheville Up By 5.9% Year-Over-Year

According to a report by Apartment List, Asheville rents have declined 0.2% over the past month, but have increased significantly by 5.9% in comparison to the same time last year.

Currently, median rents in Asheville stand at $1,046 for a one-bedroom apartment and $1,387 for a two-bedroom. Asheville’s year-over-year rent growth leads the state average of 1.4%, as well as the national average of -1.2%.

Throughout the past year, rent increases have been occurring not just in the city of Asheville, but across the entire state. Of the largest 10 cities that we have data for in North Carolina, 7 of them have seen prices rise.

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The state as a whole logged rent growth of 1.4% over the past year. Here’s a look at how rents compare across some of the largest cities in the state.

• Looking throughout the state, Cary is the most expensive of all North Carolina’s major cities, with a median two-bedroom rent of $1,320; of the 10 largest cities in North Carolina that we have data for, Cary, Durham, and Charlotte, where two-bedrooms go for $1,320, $1,154, and $1,195, respectively, are the three major cities in the state to see rents fall year-over-year (-1.4%, -1.2%, and -1.2%).
• Fayetteville, Greensboro, and Winston-Salem have all experienced year-over-year growth above the state average (10.1%, 7.7%, and 5.2%, respectively).