Recent reports show Wilmington rent prices up nearly 3 percent in the last month, 22 percent since 2021
WILMINGTON, NC (WWAY) — It is continuing to cost more to live in the Port City.
According to apartmentlist.com, Wilmington rents have increased 2.7% over the past month, and have increased sharply by 22.0% in comparison to the same time last year. Currently, median rents in Wilmington stand at $1,165 for a one-bedroom apartment and $1,379 for a two-bedroom.
This is the fifth straight month that the city has seen rent increases after a decline in January. Wilmington’s year-over-year rent growth leads the state average of 18.0%, as well as the national average of 14.1%.
Throughout the past year, rent increases have been occurring not just in the city of Wilmington, but across the entire state.
Despite the rises, Wilmington is still more affordable than most large cities across the country, according to apartmentlist.com
They say Wilmington’s median two-bedroom rent of $1,379 is slightly above the national average of $1,339. Nationwide, rents have grown by 14.1% over the past year compared to the 22.0% increase in Wilmington.