College towns in Raleigh-Durham area among most affordable in nation – Triangle Business Journal

College is expensive. Tuition, books, meal plans, credit card expenses, the costs add up.

And don’t forget about living expenses. Although it has become increasingly expensive over the past few decades, Triangle students can have peace of mind knowing their rent is among the cheapest in the nation.

Raleigh and Durham both made Apartment Guide’s list of the 25 Most Affordable College Towns for Renters.

Raleigh has the 22nd most affordable one-bedroom apartments among college towns, the average one-bedroom monthly rent is $1,125. NC State University students also have the 21st most affordable two-bedroom apartments, with the average rent at $1,364 per month.

Durham also made the list, having the 23rd and 24th most affordable one- and two-bedroom apartments in the nation. Duke University’s surrounding one-bedroom apartments have a monthly rent of $1,151, and two-bedroom apartments cost an average $1,420 per month.

Fayetteville, Arkansas, is the most affordable college town in the nation for one- and two-bedroom rentals. The average one-bedroom rent for University of Arkansas students is $662 per month and a two-bedroom apartment cost $725 per month.

Notably absent was Chapel Hill and the University of North Carolina. On Apartment Guide’s website, one-bedroom apartments in Chapel Hill range from $545 per month to $1,700 and two-bedroom apartments can cost between $625 to $1,600. Rent Café, a nationwide internet listing service, found the average rent for a one-bedroom apartment in Chapel Hill to be $1,041 per month, with two-bedroom units costing an average of $1,211 per month, which, by those figures, would put the Carolina blue college town among the top 20 most affordable in the nation.

Apartment Guide used internal RentPath data to find average one- and two-bedroom rent in cities with sufficient active multifamily listings and included areas with universities in the Power 5 conferences.

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