How many square feet of living space can you get for $1,700 a month in Raleigh?

Chantal Allam
·2 min read

Take your pick: A spacious suburban apartment on the outskirts of Raleigh, or a cozy downtown studio?

Those are your likely options in the Raleigh metro with a $1,700 budget — the national average rent — according to RentCafe’s latest analysis of apartment square footage in the 50 largest U.S. cities.

As Triangle housing costs remain high, renters are increasingly running up against the age-old real estate dilemma: size versus location.

A new interactive map, powered by RentCafe, shows how much space you get for $1,700 in most ZIP codes in greater Raleigh. Here’s a look:

Among the highlights:

  • ZIP code 27614, encompassing neighborhoods like Bayleaf, Falls River and Wakefield, offers the most apartment space in the Raleigh city area. Here, a monthly rent of $1,700 can get you 1,176 square feet — the most in the entire Tar Heel State. Plus, it’s just a 30-minute drive to downtown Raleigh.

  • On the flip side: In ZIP code 27605 — which includes Forest Park, formerly Cameron Park, a historic neighborhood off Hillsborough Street — this budget will only stretch as far as 763 square feet. (That’s the tightest space you’ll find in Raleigh for the price, but still 200 square feet more than what you’d get in Manhattan’s most generous ZIP code 10033.)

  • ZIP codes 27615, 27616, and 27617 strike a “good balance,” the report said. Here, you can get anything from 1,000 to 1,200 square feet and be just a 15- to 20-minute drive from downtown.

  • Out of the 21 Raleigh ZIP codes, 18 offer more space than the national average. Nationwide, renters can expect 950 square feet of apartment space for this amount.

Triangle’s ‘Missing Middle’ housing: Where did it go? What can bring it back?

Market update

Higher home prices and mortgage rates are keeping many would-be home buyers in the rental market longer, say experts. A long-running housing shortage is also inflating rents across the Triangle.

The Raleigh metro area alone needs at least 17,000 more units, according to a recent Zillow study.

Despite a national trend showing rents cooling in major markets, Raleigh’s median rent still stands at $1,261 for a one-bedroom apartment and $1,434 for a two-bedroom in December, according to Apartment List.

Raleigh rents are down 1.6% month-over-month and 4.2% year-over-year.

In Durham, the median rent currently stands at $1,161 for a one-bedroom apartment and $1,396 for a two-bedroom, the real estate website found.

Durham rents are down 0.7% month-over-month and 1.6% year-over-year.

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