Rents in Chapel Hill are slipping as a wave of new apartments floods the market across the Triangle.
And renters have more leverage than ever — especially if they’re willing to look beyond the town’s most coveted and costliest neighborhoods.
Among key takeaways based on new data collected by CoStar Group researchers at Apartments.com:
- Best deal: While the Cameron-McCauley area closest to campus averages $2,364 per month, you can ride the bus to and from Crosstown at Chapel Hill and pay $1,215. That’s a $1,149 monthly savings (nearly $13,800 per year), while staying in Chapel Hill proper.
- Best value for space: Crosstown at Chapel Hill provides the largest average one-bedroom (812 square feet) at $1,215 per month, $287 below the town’s average and $1,149 less per month than Cameron-McCauley.
- Campus proximity under $1,300: Eastowne Hills offers one-bedrooms at $1,298 per month, $204 below the town’s average and $806 less than Eastwood Park’s $2,104 average, with access to UNC and Franklin Street.
All told, the average rent in Chapel Hill stood at $1,500 for a one-bedroom apartment and $1,790 for a two-bedroom in January, according to Apartments.com…