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Housing in Wake County
Both Census and HUD figures represent gross rent — contract rent plus estimated utility costs for electricity, heat, water, and sewer.
Rent in Wake County averages $1,623/month for a 2‑bedroom in 2024, compared to the North Carolina median of $1,228 and the national median of $1,413. Local renters spend approximately 30% of household income on rent, below the national average of 32%.
HUD 2026 50th Percentile Rent Estimates for Wake County FMR Area are $1,653 for a studio, $1,731 for 1‑bedroom, $1,898 for 2‑bedroom, $2,382 for 3‑bedroom, and $3,184 for 4‑bedroom.
HUD 2026 Rent Estimates reflect market movement since 2024 Census data — a $275 increase for a 2-bedroom in Wake County shows a 17% rise over that period.
The U.S. Bureau of Labor Statistics annual unemployment rate for Wake County was 3.1% in 2024, compared to North Carolina at 3.6% and the national rate of 4.0%.
