Winston - Salem, North Carolina Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Winston - Salem, North Carolina rental market.
Highlights
An apartment for rent in Winston - Salem, North Carolina typically goes for $1,255 per month, while a single-family home for rent in Winston - Salem, North Carolina has a monthly cost of around $1,990. Renter-occupied units make up 46% of the local housing market, while the rental vacancy rate in Winston - Salem, North Carolina is at 9.
Winston - Salem, North Carolina
Average Apartment Rent
$1,255
Y-o-Y Change in Average
Apartment Rent
2.5%
Average Single-Family Rent
$1,990
As of November 2024
Compared to a year ago, Winston - Salem, North Carolina apartments have recorded a 2.5% rent increase.
Winston - Salem, North Carolina Average apartment rent trend
Winston - Salem, North Carolina Average Apartment Rent
Winston - Salem, North Carolina Apartment rent ranges
At 57.63%, apartments priced $1,000 - $1,500 represent the bulk of Winston - Salem, North Carolina rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.97%.
Winston - Salem, North Carolina Housing tenure**
Renters take up 46% of Winston - Salem, North Carolina real estate, occupying a total of 45,513 units, while homeowners live in 53,236 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$36,103
Average household size of renter-occupied housing units**
2.19
Rental vacancy rate**
9%
Winston - Salem, North Carolina Renter-occupied housing units by no. of bedrooms**
There are 20,782 rentals in Winston - Salem, North Carolina with 2 beds making up the highest share of the market, at 46%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 362 units. Overall, the median number of rooms in Winston - Salem, North Carolina homes for rent is 4.2.
Winston - Salem, North Carolina Renter-occupied units by age of householder**
Most condos for rent in Winston - Salem, North Carolina are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Winston - Salem, North Carolina Renter-occupied housing units by family type**
Winston - Salem, North Carolina Renter-occupied housing units by the presence of own children**
A total of 20,435 apartments for rent in Winston - Salem, North Carolina, or 45% of all rentals are family households. Additionally, 29% of rental homes include children under the age of 18 – that’s 13,377 units. All in all, the median size of a renter-occupied household in Winston - Salem, North Carolina is 2.19.
Winston - Salem, North Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 30% of the rental market. In contrast, residents with less than a high school degree reside in 13% of the homes for rent in Winston - Salem, North Carolina.
Winston - Salem, North Carolina Renter-occupied units by year structure built**
The highest share of Winston - Salem, North Carolina apartment rentals, namely 19% or 8,674 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (15%, 7,021 units), and the ones Built 1990 - 1999 (13%, 6,056 units).
Winston - Salem, North Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Winston - Salem, North Carolina renters (46%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Winston - Salem, North Carolina condos for rent is 2017.
Winston - Salem, North Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Winston - Salem, North Carolina renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 17% have No vehicle available.
Winston - Salem, North Carolina Means of transportation to work of householders living in renter-occupied housing units**
Winston - Salem, North Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
Winston - Salem, North Carolina Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Winston - Salem, North Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
