NEWS & OBSERVER: N.C. city sees a nearly 75% increase in rent prices for a one-bedroom apartment
A mailbox unit at South Pointe Apartments in Greensboro. JASON DEBRUYN WUNC
Garner Impact
Garner has also seen similar dramatic increases which has impacted the town’s housing affordability for teachers, government employees, police, fire, and other working class families.
Read in News & Observer: HERE
UPDATED AUGUST 26, 2022 12:23 PM
Greensboro one bedrooms are 75% higher than they were at this time last year. Raleigh, Durham, Charlotte, Cary and Winston Salem also see rent increases.
Highlights
ONE-BEDROOM RENT INCREASES IN THE TRIANGLE Greensboro saw the largest increase in one-bedroom rent prices year-over-year, out of all the cities listed in this report.
• Greensboro: At $1,289 on average in July 2022, Greensboro one-bedroom units are 74.2% more expensive than they were last year. Raleigh also made the top-10 list for largest increases to one-bedroom prices year-over-year, coming in as the fifth largest increase.
• Raleigh: At $1,840 on average in July 2022, Raleigh one-bedroom units are 42.1% more expensive than they were last year. Here’s how other listed North Carolina spots compare for one-bedrooms:
Charlotte: $1,596 on average in July 2022. This is over 23% more expensive than last year.
Durham: $1,539 on average in July 2022. This is over 33% more expensive than last year.
Winston-Salem: $1,293 on average in July 2022. This is over 22% more expensive than last year.
Josie Williams, executive director of the Greensboro Housing Coalition, says she’s seen a significant increase in homelessness and those at risk of homelessness over the past year.
“A 75% increase in rent prices isn’t only consistent with what we’re seeing… it’s getting worse,” she said. “I’ve seen rent increase from $600 to $900. I’ve seen rent increase from $550 to $1030. And we don’t have an excess supply of housing for people getting priced out of their homes to go somewhere else.”
Read in News & Observer: HERE
