GREENSBORO, N.C. -- A new national rent report by Zumper, ranked Greensboro as the 88th most expensive city to rent in.
- The median one bedroom unit rent was $720 and two bedroom was $840.
- While the report found median rental prices decreased last month, prices are still going up annually.
- Winston-Salem ranked 80th in the most expensive rental cities while Charlotte was 29th, and Raleigh 49th.
The median one bedroom unit rent was $720 and two bedroom was $840.
While the report found median rental prices decreased last month, prices are still going up annually.
"Rents in Greensboro have been increasing since probably 2015. They've increased steadily since then. I think the market is pretty strong," Kerri Craig Person with Rent-A-Home of the Triad said.
Person credited a strong economy, growing demand, and supply increase for the rise in rental costs.
She said a high median rental rate can bring more investment dollars into a community, but also lead to evictions.
"In the Greensboro area we have a lack of affordable housing. There is a gap between what the average property costs and what the average person's salary can afford," Person said.
A Princeton study ranked Greensboro as seventh in large cities with high eviction rates.
Person said there needs to be more rental properties between $600-$900 to help close this gap.
Winston-Salem ranked 80th in the most expensive rental cities while Charlotte was 29th, and Raleigh 49th.