Greensboro Rent Report: June 2024

Welcome to the Apartment List June 2024 Rent Report for Greensboro, NC. Currently, the overall median rent in the city stands at $1,148, after rising 0.8% last month. Prices and are now up 2.2% year-over-year. Read on to learn more about what’s been happening in the Greensboro rental market and how it compares to trends throughout the nation as a whole.

Greensboro rents are up 0.8% month-over-month and up 2.2% year-over-year

The median rent in Greensboro rose by 0.8% over the course of May, and has now increased by a total of 2.2% over the past 12 months. Greensboro’s rent growth over the past year has has outpaced both state (-3.0%) and national (-0.8%) averages.

Greensboro rent growth in 2024 pacing above last year

Five months into the year, rents in Greensboro have risen 3.0%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to May 2023 rents had increased 1.7%.

May rent growth in Greensboro ranked #39 among large U.S. cities

Greensboro rents went up 0.8% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #39. Similar monthly rent growth took place in Denver, CO (0.8%) and Pittsburgh, PA (0.7%).

Greensboro is the #82 most expensive large city in the U.S., with a median rent of $1,148

Citywide, the median rent currently stands at $1,014 for a 1-bedroom apartment and $1,130 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,148. That ranks #82 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,233 for a 1-bedroom, $1,389 for a 2-bedroom, and $1,404 overall. The median rent in Greensboro is 18.3% lower than the national, and is similar to the prices you would find in Spokane, WA ($1,173) and Milwaukee, WI ($1,147).