Chapel Hill:
February Rent Report

Welcome to the February 2020 Chapel Hill Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the February 2020 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.

Monthly Rent Report

Chapel Hill Rent Prices Decreased From January to February

Chapel Hill rent prices increased over the last month. From January to February, the city experienced a 1.49% increase for the price of a one-bedroom apartment. The rent price for a Chapel Hill one-bedroom apartments currently stands at $1,093.

When we take a look at the two-bedroom comparison from January to February, Chapel Hill experienced a 3.43% increase for the price of a two-bedroom apartment. The rent price for a Chapel Hill two-bedroom apartments currently stands at $1,597.

February Prices: Chapel Hill vs. Surrounding Areas

Rent Prices in Chapel Hill and Surrounding Areas

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 lower than the city of Chapel Hill.

February 2020 Pricing Trends: Chapel Hill vs. National Comparisons

Chapel Hill Rent Prices More Affordable Than Major Cities

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 February 2020 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.

Data set for Chapel Hill and suburbs

1 BR February 1 BR M/M % Change 2 BR February 2 BR M/M % Change
Chapel Hill, NC $1,077 1.80% $1,544 6.70%
Carrboro, NC $1,007 2.34% $1,087 0.18%

Methodology

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.