Welcome to the July 2019 Chapel Hill Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the July 2019 key findings and figures for the Chapel Hill rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Chapel Hill and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chapel Hill rent prices in the chart below.
Chapel Hill rent prices increased over the last month. From June to July, the city experienced a 3.15% increase for the price of a one-bedroom apartment. The rent price for a Chapel Hill one-bedroom apartments currently stands at $981.
When we take a look at the two-bedroom comparison from June to July, Chapel Hill experienced a 0.44% increase for the price of a two-bedroom apartment. The rent price for a Chapel Hill two-bedroom apartments currently stands at $1,380.
Rent prices have increased in Chapel Hill over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Chapel Hill suburb increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Carrboro, NC .
Rents did not decrease in any of the Chapel Hill suburbs.
1 suburb is currently priced higher than the city of Chapel Hill.
Rent growth in Chapel Hill over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Chapel Hill rent prices appear to be relatively affordable for local residents.
The price for a Chapel Hill one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of ABODO's July 2019 National Apartment Report and data set here.
For more information about Chapel Hill and surrounding area rent prices, take a look at the complete data set below.
|1 BR July||1 BR M/M % Change||2 BR July||2 BR M/M % Change|
|Chapel Hill, NC||$951||1.93%||$1,374||3.31%|
Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.