Renters in New Hanover County saw apartment listing prices increase from January’s average of $1,239, an analysis of new data from Apartment List shows.
The average apartment listed for rent at $1,247 in February. Average listing prices in New Hanover County are trending 0.6457% upwards from January’s $1,239 price, down 0.8% from this time last year.
The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List.
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One-bedroom apartments listed to rent at an average of $1,125, 0.6261% higher than January, when they were $1,118. Since last year, one-bedroom rental prices dropped 0.9% from $1,135.
Two-bedroom apartments listed for rent were 0.652% higher than January at an average of $1,235, compared to $1,227. Since last year, two-bedroom rental prices dropped 0.8% from $1,245.
Statewide, North Carolina rental listing prices are slightly higher than January’s average of $1,193. In North Carolina, one-bedroom rentals were listed for an average of $1,100, slightly higher than January’s average of $1,096. Two-bedroom rental listing prices are trending slightly higher than January’s average of $1,120 at $1124.
In New Hanover County, the average apartment listed for rent is 4% above the state average. One-bedroom rentals were 2% above the state average, while two-bedrooms listed 10% above.
Nationwide, apartment rental listing prices slightly increased from last month’s $1,370 to $1,375. One-bedroom rentals across the nation listed for an average of $1,208, just higher than last month’s average of $1,203, while two-bedroom rental listing prices slightly rose from last month’s average of $1,356 to $1,361.
In New Hanover County, the average apartment listed for rent is 9% below the national average. One-bedroom apartment rentals listed 7% below the national average, with two-bedroom rentals listed 9% below.
The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau’s American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us.
This article originally appeared on Wilmington StarNews: New Hanover County apartments for rent saw price increases in February
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